MoonLake Immunotherapeutics (NASDAQ:MLTX) Upgraded to “Outperform” at Wolfe Research

MoonLake Immunotherapeutics (NASDAQ:MLTX) was upgraded by Wolfe Research from an “underperform” rating to an “outperform” rating in a report released on Monday, Marketbeat.com reports. The firm presently has a $24.00 price objective on the stock. Wolfe Research’s price objective suggests a potential upside of 47.51% from the stock’s current price.

Other analysts also recently issued reports about the company. BTIG Research raised their target price on MoonLake Immunotherapeutics from $24.00 to $30.00 and gave the company a “buy” rating in a research note on Monday, February 23rd. UBS Group set a $24.00 price target on MoonLake Immunotherapeutics in a research note on Friday, January 9th. Rothschild & Co Redburn upgraded MoonLake Immunotherapeutics from a “neutral” rating to a “buy” rating and increased their price target for the stock from $12.00 to $40.00 in a report on Thursday. Royal Bank Of Canada raised their price objective on MoonLake Immunotherapeutics from $12.00 to $13.00 and gave the company a “sector perform” rating in a research note on Monday, March 2nd. Finally, Oppenheimer boosted their price objective on MoonLake Immunotherapeutics from $30.00 to $35.00 and gave the company an “outperform” rating in a report on Tuesday, February 24th. Nine investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $23.08.

MoonLake Immunotherapeutics Stock Performance

Shares of MLTX stock opened at $16.27 on Monday. The firm has a 50 day moving average of $16.84 and a 200-day moving average of $18.83. The company has a market cap of $1.17 billion, a price-to-earnings ratio of -4.62 and a beta of 1.20. The company has a quick ratio of 9.27, a current ratio of 9.27 and a debt-to-equity ratio of 0.24. MoonLake Immunotherapeutics has a 52 week low of $5.95 and a 52 week high of $62.75.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last posted its quarterly earnings results on Wednesday, February 25th. The company reported ($0.92) EPS for the quarter, hitting analysts’ consensus estimates of ($0.92). During the same quarter last year, the firm earned ($0.72) earnings per share. On average, equities analysts forecast that MoonLake Immunotherapeutics will post -1.79 earnings per share for the current year.

Hedge Funds Weigh In On MoonLake Immunotherapeutics

Several large investors have recently added to or reduced their stakes in the business. Geode Capital Management LLC increased its holdings in MoonLake Immunotherapeutics by 0.9% during the 2nd quarter. Geode Capital Management LLC now owns 59,553 shares of the company’s stock worth $2,809,000 after purchasing an additional 559 shares in the last quarter. Squarepoint Ops LLC lifted its holdings in shares of MoonLake Immunotherapeutics by 3.7% in the second quarter. Squarepoint Ops LLC now owns 17,571 shares of the company’s stock valued at $829,000 after purchasing an additional 629 shares in the last quarter. Axiom Investors LLC DE boosted its position in shares of MoonLake Immunotherapeutics by 3.2% during the fourth quarter. Axiom Investors LLC DE now owns 25,998 shares of the company’s stock valued at $343,000 after buying an additional 818 shares during the last quarter. Russell Investments Group Ltd. grew its holdings in MoonLake Immunotherapeutics by 45.4% during the fourth quarter. Russell Investments Group Ltd. now owns 3,426 shares of the company’s stock worth $45,000 after buying an additional 1,069 shares in the last quarter. Finally, BNP Paribas Financial Markets grew its holdings in MoonLake Immunotherapeutics by 18.9% during the third quarter. BNP Paribas Financial Markets now owns 7,296 shares of the company’s stock worth $52,000 after buying an additional 1,158 shares in the last quarter. 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.