MoonLake Immunotherapeutics (NASDAQ:MLTX) Given Consensus Recommendation of “Buy” by Brokerages

Shares of MoonLake Immunotherapeutics (NASDAQ:MLTX) have earned a consensus rating of “Buy” from the eight analysts that are currently covering the firm, Marketbeat.com reports. One investment 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. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $80.50.

Several analysts recently issued reports on MLTX shares. Royal Bank of Canada started coverage on shares of MoonLake Immunotherapeutics in a research report on Tuesday, March 18th. They set an “outperform” rating and a $67.00 price target on the stock. Needham & Company LLC increased their price target on shares of MoonLake Immunotherapeutics from $62.00 to $66.00 and gave the stock a “buy” rating in a research report on Thursday, February 27th. The Goldman Sachs Group dropped their price objective on shares of MoonLake Immunotherapeutics from $82.00 to $73.00 and set a “buy” rating for the company in a research note on Thursday, February 27th. Finally, HC Wainwright reiterated a “buy” rating and set a $100.00 price target on shares of MoonLake Immunotherapeutics in a report on Thursday, February 27th.

MoonLake Immunotherapeutics Trading Down 0.7 %

NASDAQ MLTX opened at $39.15 on Tuesday. The firm has a market capitalization of $2.51 billion, a price-to-earnings ratio of -30.35 and a beta of 1.32. The firm’s 50 day simple moving average is $38.67 and its 200 day simple moving average is $45.58. MoonLake Immunotherapeutics has a 1 year low of $31.42 and a 1 year high of $58.26.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last posted 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, equities research analysts forecast that MoonLake Immunotherapeutics will post -1.79 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Harbor Capital Advisors Inc. raised its holdings in MoonLake Immunotherapeutics by 28.1% in the 1st quarter. Harbor Capital Advisors Inc. now owns 102,020 shares of the company’s stock valued at $3,986,000 after buying an additional 22,372 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in MoonLake Immunotherapeutics in the 4th quarter valued at approximately $1,091,000. Jefferies Financial Group Inc. bought a new position in MoonLake Immunotherapeutics in the 4th quarter valued at approximately $338,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in MoonLake Immunotherapeutics by 17.9% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 42,236 shares of the company’s stock valued at $2,287,000 after buying an additional 6,422 shares during the last quarter. Finally, Woodline Partners LP raised its holdings in MoonLake Immunotherapeutics by 26.3% in the 4th quarter. Woodline Partners LP now owns 293,535 shares of the company’s stock valued at $15,895,000 after buying an additional 61,105 shares during 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.