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

Shares of MoonLake Immunotherapeutics (NASDAQ:MLTX) have been given an average recommendation of “Moderate Buy” by the thirteen research firms that are covering the firm, MarketBeat.com reports. Three research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The average 1-year price target among brokers that have covered the stock in the last year is $79.00.

MLTX has been the topic of a number of analyst reports. Needham & Company LLC reiterated a “buy” rating and set a $66.00 price objective on shares of MoonLake Immunotherapeutics in a research report on Monday, June 10th. Wedbush reissued an “outperform” rating and set a $92.00 price target on shares of MoonLake Immunotherapeutics in a research report on Wednesday, March 13th. Oppenheimer began coverage on shares of MoonLake Immunotherapeutics in a research report on Tuesday, June 25th. They set an “outperform” rating and a $104.00 price objective for the company. HC Wainwright reiterated a “buy” rating and issued a $100.00 target price on shares of MoonLake Immunotherapeutics in a report on Tuesday, June 11th. Finally, The Goldman Sachs Group started coverage on shares of MoonLake Immunotherapeutics in a report on Tuesday, April 2nd. They set a “neutral” rating and a $62.00 price target for the company.

Institutional Investors Weigh In On MoonLake Immunotherapeutics

Large investors have recently added to or reduced their stakes in the business. California State Teachers Retirement System grew its stake in shares of MoonLake Immunotherapeutics by 2.7% in the first quarter. California State Teachers Retirement System now owns 16,366 shares of the company’s stock worth $822,000 after acquiring an additional 429 shares in the last quarter. Bellevue Group AG purchased a new stake in MoonLake Immunotherapeutics during the 1st quarter worth about $221,000. Affinity Asset Advisors LLC raised its position in MoonLake Immunotherapeutics by 5.7% in the 1st quarter. Affinity Asset Advisors LLC now owns 75,000 shares of the company’s stock valued at $3,767,000 after purchasing an additional 4,012 shares in the last quarter. Decheng Capital LLC purchased a new position in shares of MoonLake Immunotherapeutics in the 1st quarter valued at about $8,368,000. Finally, Clearbridge Investments LLC acquired a new position in shares of MoonLake Immunotherapeutics during the first quarter worth about $1,434,000. 93.85% of the stock is owned by hedge funds and other institutional investors.

MoonLake Immunotherapeutics Stock Up 5.5 %

Shares of MLTX opened at $43.97 on Wednesday. The firm’s fifty day moving average is $41.40 and its two-hundred day moving average is $49.35. The stock has a market cap of $2.81 billion, a PE ratio of -58.63 and a beta of 1.25. MoonLake Immunotherapeutics has a 52-week low of $35.11 and a 52-week high of $64.98.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last announced its quarterly earnings data on Sunday, May 12th. The company reported ($0.22) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($0.03). As a group, research analysts anticipate 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.