Needham & Company LLC Increases MoonLake Immunotherapeutics (NASDAQ:MLTX) Price Target to $66.00

MoonLake Immunotherapeutics (NASDAQ:MLTX) had its price target boosted by investment analysts at Needham & Company LLC from $62.00 to $66.00 in a research note issued to investors on Thursday,Benzinga reports. The firm presently has a “buy” rating on the stock. Needham & Company LLC’s price target would suggest a potential upside of 55.77% from the stock’s current price.

MLTX has been the topic of several other reports. Wedbush reissued an “outperform” rating and issued a $73.00 target price (down from $92.00) on shares of MoonLake Immunotherapeutics in a report on Tuesday, November 5th. HC Wainwright reaffirmed a “buy” rating and issued a $100.00 target price on shares of MoonLake Immunotherapeutics in a research report on Thursday. Finally, The Goldman Sachs Group raised shares of MoonLake Immunotherapeutics from a “neutral” rating to a “buy” rating and upped their price target for the company from $62.00 to $82.00 in a research report on Friday, January 17th. 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 a consensus price target of $85.00.

MoonLake Immunotherapeutics Stock Performance

Shares of MLTX stock opened at $42.37 on Thursday. MoonLake Immunotherapeutics has a fifty-two week low of $37.55 and a fifty-two week high of $58.26. The firm has a market cap of $2.71 billion, a P/E ratio of -32.84 and a beta of 1.28. The business’s 50 day moving average price is $46.90 and its 200-day moving average price is $48.99.

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

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of MoonLake Immunotherapeutics by 96.4% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 35,814 shares of the company’s stock worth $1,806,000 after purchasing an additional 17,580 shares in the last quarter. Erste Asset Management GmbH bought a new position in MoonLake Immunotherapeutics in the 3rd quarter worth approximately $741,000. Barclays PLC grew its holdings in MoonLake Immunotherapeutics by 1,269.2% during the 3rd quarter. Barclays PLC now owns 5,641 shares of the company’s stock valued at $283,000 after buying an additional 5,229 shares in the last quarter. State Street Corp lifted its holdings in shares of MoonLake Immunotherapeutics by 96.2% in the third quarter. State Street Corp now owns 87,637 shares of the company’s stock worth $4,419,000 after buying an additional 42,980 shares in the last quarter. Finally, Congress Asset Management Co. boosted its position in shares of MoonLake Immunotherapeutics by 9.5% during the fourth quarter. Congress Asset Management Co. now owns 72,993 shares of the company’s stock worth $3,953,000 after acquiring an additional 6,352 shares during the last quarter. 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.