MoonLake Immunotherapeutics (NASDAQ:MLTX) Stock Rating Upgraded by The Goldman Sachs Group

The Goldman Sachs Group upgraded shares of MoonLake Immunotherapeutics (NASDAQ:MLTX) from a neutral rating to a buy rating in a research note issued to investors on Friday morning, MarketBeat Ratings reports. They currently have $82.00 target price on the stock, up from their prior target price of $62.00.

Several other research firms have also recently commented on MLTX. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of MoonLake Immunotherapeutics in a research report on Monday, September 23rd. HC Wainwright restated a “buy” rating and issued a $100.00 price target on shares of MoonLake Immunotherapeutics in a report on Friday, January 10th. Finally, Wedbush reiterated an “outperform” rating and set a $73.00 price objective (down from $92.00) on shares of MoonLake Immunotherapeutics in a report on Tuesday, November 5th. One equities research analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, MoonLake Immunotherapeutics has a consensus rating of “Buy” and an average price target of $84.29.

MoonLake Immunotherapeutics Price Performance

NASDAQ MLTX opened at $43.81 on Friday. MoonLake Immunotherapeutics has a one year low of $37.55 and a one year high of $64.98. The firm has a market cap of $2.80 billion, a P/E ratio of -33.96 and a beta of 1.31. The stock’s 50-day moving average is $51.63 and its 200-day moving average is $49.05.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last announced its earnings results on Thursday, November 7th. The company reported ($0.56) EPS for the quarter, missing the consensus estimate of ($0.44) by ($0.12). During the same period in the previous year, the business posted ($0.18) EPS. Equities analysts anticipate that MoonLake Immunotherapeutics will post -1.75 EPS for the current year.

Hedge Funds Weigh In On MoonLake Immunotherapeutics

A number of institutional investors have recently added to or reduced their stakes in the company. US Bancorp DE bought a new stake in MoonLake Immunotherapeutics in the third quarter valued at approximately $44,000. Quarry LP lifted its stake in shares of MoonLake Immunotherapeutics by 172.7% during the 2nd quarter. Quarry LP now owns 3,000 shares of the company’s stock worth $132,000 after buying an additional 1,900 shares during the last quarter. Barclays PLC boosted its holdings in shares of MoonLake Immunotherapeutics by 1,269.2% during the 3rd quarter. Barclays PLC now owns 5,641 shares of the company’s stock worth $283,000 after buying an additional 5,229 shares during the period. Handelsbanken Fonder AB lifted its position in MoonLake Immunotherapeutics by 26.2% during the third quarter. Handelsbanken Fonder AB now owns 13,000 shares of the company’s stock worth $655,000 after acquiring an additional 2,700 shares during the last quarter. Finally, AlphaCentric Advisors LLC bought a new stake in shares of MoonLake Immunotherapeutics during the third quarter worth approximately $706,000. 93.85% of the stock is currently owned by institutional investors and hedge funds.

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.