MoonLake Immunotherapeutics (NASDAQ:MLTX) Earns Outperform Rating from Analysts at Royal Bank of Canada

Royal Bank of Canada assumed coverage on shares of MoonLake Immunotherapeutics (NASDAQ:MLTX) in a research note issued to investors on Tuesday, Marketbeat reports. The brokerage issued an outperform rating and a $67.00 target price on the stock.

Several other equities research analysts have also recently commented on the company. The Goldman Sachs Group dropped their target price on MoonLake Immunotherapeutics from $82.00 to $73.00 and set a “buy” rating on the stock in a report on Thursday, February 27th. HC Wainwright reaffirmed a “buy” rating and issued a $100.00 price target on shares of MoonLake Immunotherapeutics in a report on Thursday, February 27th. Finally, Needham & Company LLC upped their price target on MoonLake Immunotherapeutics from $62.00 to $66.00 and gave the company a “buy” rating in a report on Thursday, February 27th. One analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $80.50.

MoonLake Immunotherapeutics Price Performance

Shares of NASDAQ:MLTX opened at $40.69 on Tuesday. MoonLake Immunotherapeutics has a 12 month low of $36.52 and a 12 month high of $58.26. The stock has a market cap of $2.60 billion, a price-to-earnings ratio of -31.54 and a beta of 1.31. The stock’s 50 day moving average price is $42.75 and its 200 day moving average price is $48.05.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last announced 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). On average, sell-side analysts expect that MoonLake Immunotherapeutics will post -1.79 EPS for the current year.

Hedge Funds Weigh In On MoonLake Immunotherapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Deutsche Bank AG grew its position in MoonLake Immunotherapeutics by 59.8% during the 4th quarter. Deutsche Bank AG now owns 903 shares of the company’s stock worth $49,000 after purchasing an additional 338 shares in the last quarter. Birchview Capital LP purchased a new position in MoonLake Immunotherapeutics during the 4th quarter worth approximately $217,000. KLP Kapitalforvaltning AS purchased a new position in MoonLake Immunotherapeutics during the 4th quarter worth approximately $244,000. PEAK6 LLC purchased a new position in MoonLake Immunotherapeutics during the 4th quarter worth approximately $271,000. Finally, Mariner LLC purchased a new position in MoonLake Immunotherapeutics during the 4th quarter worth approximately $272,000. 93.85% of the stock is currently 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.