MoonLake Immunotherapeutics (NASDAQ:MLTX) Receives $80.50 Consensus Target Price from Brokerages

Shares of MoonLake Immunotherapeutics (NASDAQ:MLTX) have received a consensus rating of “Buy” from the eight brokerages that are presently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a hold recommendation, six have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among brokers that have covered the stock in the last year is $80.50.

Several research firms recently weighed in on MLTX. HC Wainwright restated a “buy” rating and set a $100.00 price target on shares of MoonLake Immunotherapeutics in a research report on Thursday, February 27th. Needham & Company LLC upped their price objective on shares of MoonLake Immunotherapeutics from $62.00 to $66.00 and gave the company a “buy” rating in a report on Thursday, February 27th. Royal Bank of Canada initiated coverage on shares of MoonLake Immunotherapeutics in a report on Tuesday, March 18th. They issued an “outperform” rating and a $67.00 price objective for the company. Finally, The Goldman Sachs Group reduced 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.

MoonLake Immunotherapeutics Price Performance

MLTX opened at $39.86 on Friday. The firm has a market capitalization of $2.55 billion, a P/E ratio of -30.90 and a beta of 1.31. MoonLake Immunotherapeutics has a fifty-two week low of $36.52 and a fifty-two week high of $58.26. The company’s 50-day moving average is $42.17 and its 200 day moving average is $47.79.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last issued its quarterly earnings results on Wednesday, February 26th. The company reported ($0.72) EPS for the quarter, missing analysts’ consensus estimates of ($0.63) by ($0.09). On average, equities research analysts expect 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 modified their holdings of the business. Deutsche Bank AG raised its stake in MoonLake Immunotherapeutics by 59.8% in the fourth quarter. Deutsche Bank AG now owns 903 shares of the company’s stock valued at $49,000 after purchasing an additional 338 shares in the last quarter. Birchview Capital LP purchased a new position in shares of MoonLake Immunotherapeutics during the fourth quarter worth approximately $217,000. KLP Kapitalforvaltning AS purchased a new stake in shares of MoonLake Immunotherapeutics in the 4th quarter valued at $244,000. PEAK6 LLC bought a new stake in MoonLake Immunotherapeutics in the fourth quarter worth $271,000. Finally, Mariner LLC purchased a new position in shares of MoonLake Immunotherapeutics in the fourth quarter worth about $272,000. Hedge funds and other institutional investors own 93.85% of the company’s stock.

MoonLake Immunotherapeutics Company Profile

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.