MoonLake Immunotherapeutics (NASDAQ:MLTX) Receives Buy Rating from Needham & Company LLC

MoonLake Immunotherapeutics (NASDAQ:MLTX)‘s stock had its “buy” rating restated by equities researchers at Needham & Company LLC in a report released on Tuesday,Benzinga reports. They currently have a $66.00 target price on the stock. Needham & Company LLC’s target price indicates a potential upside of 64.26% from the company’s previous close.

Several other analysts have also recently issued reports on the stock. Royal Bank of Canada initiated coverage on shares of MoonLake Immunotherapeutics in a research note on Tuesday, March 18th. They set an “outperform” rating and a $67.00 price objective for the company. HC Wainwright reiterated a “buy” rating and set a $100.00 price objective on shares of MoonLake Immunotherapeutics in a research report on Thursday, February 27th. Finally, The Goldman Sachs Group lowered their price objective on MoonLake Immunotherapeutics from $82.00 to $73.00 and set a “buy” rating on the stock in a research note on Thursday, February 27th. One research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $80.50.

MoonLake Immunotherapeutics Stock Up 4.4%

MLTX opened at $40.18 on Tuesday. MoonLake Immunotherapeutics has a twelve month low of $31.42 and a twelve month high of $58.26. The company has a 50-day moving average price of $38.43 and a 200 day moving average price of $45.02. The company has a market cap of $2.57 billion, a PE ratio of -31.15 and a beta of 1.31.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last issued its quarterly earnings results on Monday, May 12th. The company reported ($0.63) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.76) by $0.13. During the same period last year, the business earned ($0.22) earnings per share. As a group, sell-side analysts expect that MoonLake Immunotherapeutics will post -1.79 earnings per share for the current year.

Hedge Funds Weigh In On MoonLake Immunotherapeutics

Hedge funds have recently modified their holdings of the business. FMR LLC boosted its position in shares of MoonLake Immunotherapeutics by 28.1% during the 4th quarter. FMR LLC now owns 6,341,391 shares of the company’s stock worth $343,386,000 after purchasing an additional 1,391,167 shares during the period. Paradigm Biocapital Advisors LP boosted its position in shares of MoonLake Immunotherapeutics by 90.3% during the fourth quarter. Paradigm Biocapital Advisors LP now owns 1,772,211 shares of the company’s stock worth $95,965,000 after buying an additional 840,731 shares during the period. Nuveen LLC acquired a new stake in shares of MoonLake Immunotherapeutics in the first quarter valued at $26,308,000. Polar Capital Holdings Plc grew its position in MoonLake Immunotherapeutics by 120.0% in the 4th quarter. Polar Capital Holdings Plc now owns 1,100,000 shares of the company’s stock valued at $59,565,000 after acquiring an additional 600,000 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD increased its stake in MoonLake Immunotherapeutics by 12.2% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,343,643 shares of the company’s stock worth $181,059,000 after buying an additional 363,394 shares during the period. 93.85% of the stock is currently owned by hedge funds and other institutional investors.

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.