MoonLake Immunotherapeutics’ (MLTX) “Buy” Rating Reiterated at HC Wainwright

MoonLake Immunotherapeutics (NASDAQ:MLTX)‘s stock had its “buy” rating reissued by investment analysts at HC Wainwright in a note issued to investors on Thursday,Benzinga reports. They presently have a $100.00 target price on the stock. HC Wainwright’s target price would suggest a potential upside of 136.02% from the company’s previous close.

Several other equities analysts also recently issued reports on MLTX. The Goldman Sachs Group upgraded shares of MoonLake Immunotherapeutics from a “neutral” rating to a “buy” rating and upped their price objective for the company from $62.00 to $82.00 in a research note on Friday, January 17th. Wedbush restated an “outperform” rating and issued a $73.00 price objective (down previously from $92.00) on shares of MoonLake Immunotherapeutics in a research note on Tuesday, November 5th. One research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $85.00.

MoonLake Immunotherapeutics Price Performance

NASDAQ:MLTX opened at $42.37 on Thursday. The firm has a market capitalization of $2.71 billion, a PE ratio of -32.84 and a beta of 1.28. The business’s fifty day moving average price is $46.90 and its 200 day moving average price is $48.99. MoonLake Immunotherapeutics has a 12 month low of $37.55 and a 12 month high of $58.26.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last posted its earnings results on Wednesday, February 26th. The company reported ($0.72) EPS for the quarter, missing the consensus estimate of ($0.63) by ($0.09). As a group, equities analysts anticipate that MoonLake Immunotherapeutics will post -1.79 EPS for the current year.

Institutional Investors Weigh In On MoonLake Immunotherapeutics

Several hedge funds have recently made changes to their positions in the business. PNC Financial Services Group Inc. boosted its stake in shares of MoonLake Immunotherapeutics by 3.9% during the fourth quarter. PNC Financial Services Group Inc. now owns 8,500 shares of the company’s stock worth $460,000 after buying an additional 320 shares during the period. Deutsche Bank AG boosted its stake in shares of MoonLake Immunotherapeutics by 59.8% during the fourth quarter. Deutsche Bank AG now owns 903 shares of the company’s stock worth $49,000 after buying an additional 338 shares during the period. GSA Capital Partners LLP boosted its stake in shares of MoonLake Immunotherapeutics by 1.9% during the third quarter. GSA Capital Partners LLP now owns 22,127 shares of the company’s stock worth $1,116,000 after buying an additional 403 shares during the period. Geode Capital Management LLC boosted its stake in shares of MoonLake Immunotherapeutics by 0.9% during the fourth quarter. Geode Capital Management LLC now owns 58,950 shares of the company’s stock worth $3,192,000 after buying an additional 540 shares during the period. Finally, DnB Asset Management AS boosted its stake in shares of MoonLake Immunotherapeutics by 11.3% during the fourth quarter. DnB Asset Management AS now owns 8,356 shares of the company’s stock worth $452,000 after buying an additional 847 shares during the period. Institutional investors and hedge funds 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.