MoonLake Immunotherapeutics (NASDAQ:MLTX) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of MoonLake Immunotherapeutics (NASDAQ:MLTX) have been assigned an average rating of “Moderate Buy” from the thirteen research firms that are currently covering the stock, Marketbeat.com reports. Three investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The average 12 month target price among brokers that have covered the stock in the last year is $78.67.

MLTX has been the topic of several research analyst reports. Needham & Company LLC cut their price objective on MoonLake Immunotherapeutics from $66.00 to $62.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. HC Wainwright restated a “buy” rating and set a $100.00 price target on shares of MoonLake Immunotherapeutics in a research report on Monday, July 1st. Finally, Oppenheimer initiated coverage on shares of MoonLake Immunotherapeutics in a report on Tuesday, June 25th. They set an “outperform” rating and a $104.00 price objective for the company.

Institutional Investors Weigh In On MoonLake Immunotherapeutics

Several institutional investors have recently made changes to their positions in MLTX. Quarry LP bought a new stake in shares of MoonLake Immunotherapeutics during the 4th quarter valued at $51,000. Stratos Wealth Partners LTD. purchased a new stake in shares of MoonLake Immunotherapeutics in the fourth quarter worth about $202,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in shares of MoonLake Immunotherapeutics in the fourth quarter valued at approximately $217,000. Bellevue Group AG purchased a new position in MoonLake Immunotherapeutics during the first quarter valued at approximately $221,000. Finally, DNB Asset Management AS increased its holdings in MoonLake Immunotherapeutics by 29.8% during the 2nd quarter. DNB Asset Management AS now owns 7,372 shares of the company’s stock worth $324,000 after acquiring an additional 1,694 shares during the period. Hedge funds and other institutional investors own 93.85% of the company’s stock.

MoonLake Immunotherapeutics Stock Up 1.8 %

Shares of NASDAQ:MLTX opened at $49.04 on Thursday. The business’s 50 day moving average is $43.59 and its 200 day moving average is $45.96. 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 $3.13 billion, a price-to-earnings ratio of -65.39 and a beta of 1.25.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last released its quarterly earnings results on Wednesday, August 7th. The company reported ($0.39) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.11). During the same quarter in the prior year, the company earned ($0.23) EPS. As a group, equities research analysts expect that MoonLake Immunotherapeutics will post -1.21 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.