MoonLake Immunotherapeutics (NASDAQ:MLTX) Given “Outperform” Rating at Wedbush

MoonLake Immunotherapeutics (NASDAQ:MLTX)‘s stock had its “outperform” rating reaffirmed by Wedbush in a note issued to investors on Tuesday,RTT News reports. They presently have a $80.00 price target on the stock, up from their previous price target of $78.00. Wedbush’s price objective indicates a potential upside of 116.27% from the stock’s current price.

Several other equities analysts have also recently weighed in on MLTX. Royal Bank of Canada assumed coverage on MoonLake Immunotherapeutics in a report on Tuesday, March 18th. They set an “outperform” rating and a $67.00 price target for the company. Needham & Company LLC reiterated a “buy” rating and issued a $66.00 target price on shares of MoonLake Immunotherapeutics in a report on Tuesday. HC Wainwright reiterated a “buy” rating and issued a $100.00 target price on shares of MoonLake Immunotherapeutics in a report on Thursday, February 27th. Finally, The Goldman Sachs Group dropped their target price on MoonLake Immunotherapeutics from $82.00 to $73.00 and set a “buy” rating for the company in a report on Thursday, February 27th. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $81.67.

MoonLake Immunotherapeutics Price Performance

NASDAQ MLTX opened at $36.99 on Tuesday. The stock has a market capitalization of $2.37 billion, a PE ratio of -28.67 and a beta of 1.31. The business has a 50 day simple moving average of $38.39 and a two-hundred day simple moving average of $44.87. MoonLake Immunotherapeutics has a 1-year low of $31.42 and a 1-year high of $58.26.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last released its quarterly earnings results on Monday, May 12th. The company reported ($0.63) earnings per share for the quarter, beating the consensus estimate of ($0.76) by $0.13. During the same period in the previous year, the firm posted ($0.22) EPS. On average, analysts anticipate that MoonLake Immunotherapeutics will post -1.79 EPS for the current fiscal year.

Hedge Funds Weigh In On MoonLake Immunotherapeutics

A number of institutional investors and hedge funds have recently modified their holdings of the stock. FMR LLC lifted its stake 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 acquiring an additional 1,391,167 shares during the last quarter. Paradigm Biocapital Advisors LP lifted its stake in shares of MoonLake Immunotherapeutics by 90.3% during the 4th quarter. Paradigm Biocapital Advisors LP now owns 1,772,211 shares of the company’s stock worth $95,965,000 after acquiring an additional 840,731 shares during the last quarter. Nuveen LLC bought a new stake in shares of MoonLake Immunotherapeutics during the 1st quarter worth approximately $26,308,000. Polar Capital Holdings Plc lifted its stake in shares of MoonLake Immunotherapeutics by 120.0% during the 4th quarter. Polar Capital Holdings Plc now owns 1,100,000 shares of the company’s stock worth $59,565,000 after acquiring an additional 600,000 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its stake in shares of 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 acquiring an additional 363,394 shares during the last quarter. 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.