MoonLake Immunotherapeutics (NASDAQ:MLTX) Now Covered by Royal Bank of Canada

Analysts at Royal Bank of Canada initiated coverage on shares of MoonLake Immunotherapeutics (NASDAQ:MLTX) in a research note issued on Tuesday, Marketbeat reports. The firm set an “outperform” rating and a $67.00 price target on the stock. Royal Bank of Canada’s price target would suggest a potential upside of 67.84% from the stock’s previous close.

MLTX has been the subject of several other reports. HC Wainwright reissued a “buy” rating and issued a $100.00 price objective on shares of MoonLake Immunotherapeutics in a research note on Thursday, February 27th. Needham & Company LLC increased their price target on MoonLake Immunotherapeutics from $62.00 to $66.00 and gave the company a “buy” rating in a research report on Thursday, February 27th. Finally, The Goldman Sachs Group decreased their price target on MoonLake Immunotherapeutics from $82.00 to $73.00 and set a “buy” rating for the company in a research report on Thursday, February 27th. One equities research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $80.50.

MoonLake Immunotherapeutics Price Performance

Shares of MoonLake Immunotherapeutics stock opened at $39.92 on Tuesday. The stock’s 50-day moving average is $42.90 and its 200 day moving average is $48.10. The firm has a market cap of $2.56 billion, a price-to-earnings ratio of -30.95 and a beta of 1.31. MoonLake Immunotherapeutics has a one year low of $36.52 and a one year high of $58.26.

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

Hedge Funds Weigh In On MoonLake Immunotherapeutics

Large investors have recently made changes to their positions in the stock. Deutsche Bank AG boosted its holdings in shares of MoonLake Immunotherapeutics by 59.8% in the fourth quarter. Deutsche Bank AG now owns 903 shares of the company’s stock worth $49,000 after acquiring an additional 338 shares during the period. Birchview Capital LP bought a new position in shares of MoonLake Immunotherapeutics in the fourth quarter worth $217,000. KLP Kapitalforvaltning AS bought a new position in shares of MoonLake Immunotherapeutics in the fourth quarter worth $244,000. PEAK6 LLC bought a new position in shares of MoonLake Immunotherapeutics in the fourth quarter worth $271,000. Finally, Mariner LLC bought a new position in shares of MoonLake Immunotherapeutics in the fourth quarter worth $272,000. 93.85% of the stock is owned by institutional investors.

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.