MoonLake Immunotherapeutics (NASDAQ:MLTX) Receives $78.67 Consensus Target Price from Brokerages

MoonLake Immunotherapeutics (NASDAQ:MLTX) has received an average recommendation of “Moderate Buy” from the eleven analysts that are presently covering the company, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold recommendation and nine have assigned a buy recommendation to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $80.45.

MLTX has been the subject of a number of recent analyst reports. Wolfe Research lowered shares of MoonLake Immunotherapeutics from an “outperform” rating to a “peer perform” rating in a report on Monday, August 26th. Cantor Fitzgerald restated an “overweight” rating on shares of MoonLake Immunotherapeutics in a research note on Monday, September 9th. HC Wainwright reiterated a “buy” rating and issued a $100.00 price target on shares of MoonLake Immunotherapeutics in a research note on Thursday. Needham & Company LLC reissued a “buy” rating and issued a $62.00 price target on shares of MoonLake Immunotherapeutics in a report on Thursday. Finally, Oppenheimer assumed coverage on MoonLake Immunotherapeutics in a report on Tuesday, June 25th. They set an “outperform” rating and a $104.00 price objective on the stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. California State Teachers Retirement System grew its position in shares of MoonLake Immunotherapeutics by 2.7% during the 1st quarter. California State Teachers Retirement System now owns 16,366 shares of the company’s stock valued at $822,000 after buying an additional 429 shares during the last quarter. Quarry LP acquired a new stake in shares of MoonLake Immunotherapeutics during the 4th quarter worth approximately $51,000. DNB Asset Management AS lifted its holdings in shares of MoonLake Immunotherapeutics by 29.8% in the 2nd quarter. DNB Asset Management AS now owns 7,372 shares of the company’s stock worth $324,000 after purchasing an additional 1,694 shares during the last quarter. PNC Financial Services Group Inc. boosted its position in MoonLake Immunotherapeutics by 50.7% during the 4th quarter. PNC Financial Services Group Inc. now owns 6,147 shares of the company’s stock valued at $371,000 after purchasing an additional 2,067 shares during the period. Finally, Affinity Asset Advisors LLC grew its stake in MoonLake Immunotherapeutics by 5.7% during the 1st quarter. Affinity Asset Advisors LLC now owns 75,000 shares of the company’s stock worth $3,767,000 after buying an additional 4,012 shares during the last quarter. 93.85% of the stock is currently owned by institutional investors.

MoonLake Immunotherapeutics Price Performance

Shares of MLTX opened at $51.14 on Monday. MoonLake Immunotherapeutics has a 12 month low of $35.11 and a 12 month high of $64.98. The stock has a market cap of $3.27 billion, a PE ratio of -68.19 and a beta of 1.26. The stock’s 50-day moving average is $45.94 and its two-hundred day moving average is $44.74.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last released its quarterly earnings results on Wednesday, August 7th. The company reported ($0.39) EPS for the quarter, missing the consensus estimate of ($0.28) by ($0.11). During the same period in the previous year, the business earned ($0.23) earnings per share. On average, research analysts anticipate that MoonLake Immunotherapeutics will post -1.45 earnings per share for the current year.

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.