MoonLake Immunotherapeutics (NASDAQ:MLTX) Price Target Cut to $73.00 by Analysts at The Goldman Sachs Group

MoonLake Immunotherapeutics (NASDAQ:MLTX) had its price objective reduced by The Goldman Sachs Group from $82.00 to $73.00 in a report released on Thursday,Benzinga reports. They currently have a buy rating on the stock.

Several other research analysts have also weighed in on MLTX. Wedbush reiterated an “outperform” rating and set a $73.00 target price (down from $92.00) on shares of MoonLake Immunotherapeutics in a report on Tuesday, November 5th. Needham & Company LLC boosted their price target on MoonLake Immunotherapeutics from $62.00 to $66.00 and gave the company a “buy” rating in a report on Thursday. Finally, HC Wainwright restated a “buy” rating and issued a $100.00 price target on shares of MoonLake Immunotherapeutics in a report on Thursday. One investment analyst has rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $83.20.

MoonLake Immunotherapeutics Trading Down 0.0 %

MLTX stock opened at $41.76 on Thursday. The business’s 50-day moving average price is $46.49 and its two-hundred day moving average price is $48.91. The firm has a market cap of $2.67 billion, a PE ratio of -32.37 and a beta of 1.28. MoonLake Immunotherapeutics has a 1-year low of $37.55 and a 1-year high of $58.26.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last posted its earnings results on Wednesday, February 26th. The company reported ($0.72) earnings per share for the quarter, missing the consensus estimate of ($0.63) by ($0.09). On average, analysts forecast that MoonLake Immunotherapeutics will post -1.79 earnings per share for the current year.

Institutional Trading of MoonLake Immunotherapeutics

Several institutional investors and hedge funds have recently bought and sold shares of MLTX. Congress Asset Management Co. bought a new stake in MoonLake Immunotherapeutics during the third quarter worth about $3,360,000. US Bancorp DE bought a new stake in MoonLake Immunotherapeutics during the third quarter worth about $44,000. Rice Hall James & Associates LLC bought a new stake in MoonLake Immunotherapeutics during the third quarter worth about $3,805,000. Harbor Capital Advisors Inc. raised its holdings in MoonLake Immunotherapeutics by 100.2% during the third quarter. Harbor Capital Advisors Inc. now owns 77,468 shares of the company’s stock worth $3,906,000 after acquiring an additional 38,779 shares in the last quarter. Finally, AlphaCentric Advisors LLC bought a new stake in MoonLake Immunotherapeutics during the third quarter worth about $706,000. Institutional investors own 93.85% of the company’s stock.

About MoonLake Immunotherapeutics

MoonLake Immunotherapeutics, a clinical-stage biopharmaceutical company, engages in developing therapies. It develops Sonelokimab, a novel investigational Nanobody for the treatment of inflammation diseases; and hidradenitis suppurativa, psoriatic arthritis, axial spondyloarthritis, and psoriasis. MoonLake Immunotherapeutics was incorporated in 2020 and is headquartered in Zug, Switzerland.