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

MoonLake Immunotherapeutics (NASDAQ:MLTX) has earned an average rating of “Buy” from the eight ratings firms that are presently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold recommendation, six have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among brokerages that have covered the stock in the last year is $84.29.

MLTX has been the topic of a number of research reports. Cantor Fitzgerald reissued an “overweight” rating on shares of MoonLake Immunotherapeutics in a report on Monday, September 23rd. The Goldman Sachs Group upgraded shares of MoonLake Immunotherapeutics from a “neutral” rating to a “buy” rating and increased their price target for the company from $62.00 to $82.00 in a research report on Friday. Wedbush restated an “outperform” rating and issued a $73.00 price objective (down from $92.00) on shares of MoonLake Immunotherapeutics in a report on Tuesday, November 5th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $100.00 target price on shares of MoonLake Immunotherapeutics in a report on Friday, January 10th.

MoonLake Immunotherapeutics Price Performance

Shares of NASDAQ:MLTX opened at $43.81 on Friday. The company’s fifty day moving average price is $51.63 and its 200-day moving average price is $49.01. MoonLake Immunotherapeutics has a one year low of $37.55 and a one year high of $64.98.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last released its earnings results on Thursday, November 7th. The company reported ($0.56) EPS for the quarter, missing analysts’ consensus estimates of ($0.44) by ($0.12). During the same quarter last year, the company earned ($0.18) earnings per share. Equities research analysts predict that MoonLake Immunotherapeutics will post -1.75 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. US Bancorp DE purchased a new stake in MoonLake Immunotherapeutics during the 3rd quarter valued at $44,000. Quarry LP boosted its holdings in shares of MoonLake Immunotherapeutics by 172.7% during the second quarter. Quarry LP now owns 3,000 shares of the company’s stock worth $132,000 after purchasing an additional 1,900 shares during the period. Barclays PLC grew its stake in shares of MoonLake Immunotherapeutics by 1,269.2% in the third quarter. Barclays PLC now owns 5,641 shares of the company’s stock worth $283,000 after purchasing an additional 5,229 shares during the last quarter. Handelsbanken Fonder AB increased its holdings in MoonLake Immunotherapeutics by 26.2% during the 3rd quarter. Handelsbanken Fonder AB now owns 13,000 shares of the company’s stock valued at $655,000 after purchasing an additional 2,700 shares during the period. Finally, AlphaCentric Advisors LLC bought a new position in MoonLake Immunotherapeutics during the 3rd quarter valued at approximately $706,000. 93.85% of the stock is owned by hedge funds and other institutional investors.

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.