MoonLake Immunotherapeutics’ (MLTX) “Buy” Rating Reiterated at HC Wainwright

MoonLake Immunotherapeutics (NASDAQ:MLTX)‘s stock had its “buy” rating reaffirmed by investment analysts at HC Wainwright in a report issued on Thursday,Benzinga reports. They currently have a $100.00 price target on the stock. HC Wainwright’s target price would suggest a potential upside of 136.02% from the stock’s previous close.

A number of other research firms have also recently commented on MLTX. The Goldman Sachs Group upgraded MoonLake Immunotherapeutics from a “neutral” rating to a “buy” rating and upped their price objective for the company from $62.00 to $82.00 in a report on Friday, January 17th. Wedbush reiterated 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. One analyst has rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $85.00.

MoonLake Immunotherapeutics Price Performance

Shares of MoonLake Immunotherapeutics stock opened at $42.37 on Thursday. The stock has a market cap of $2.71 billion, a P/E ratio of -32.84 and a beta of 1.28. The stock’s 50 day simple moving average is $46.90 and its 200-day simple moving average is $48.99. MoonLake Immunotherapeutics has a 1-year low of $37.55 and a 1-year high of $58.26.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last released its quarterly earnings data on Wednesday, February 26th. The company reported ($0.72) EPS for the quarter, missing analysts’ consensus estimates of ($0.63) by ($0.09). As a group, research analysts expect that MoonLake Immunotherapeutics will post -1.79 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in 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 acquired a new position in MoonLake Immunotherapeutics during the third quarter worth $741,000. Barclays PLC lifted its stake in MoonLake Immunotherapeutics by 1,269.2% during 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 in the last quarter. State Street Corp lifted its stake in MoonLake Immunotherapeutics by 96.2% during the third quarter. State Street Corp now owns 87,637 shares of the company’s stock worth $4,419,000 after purchasing an additional 42,980 shares in the last quarter. Finally, Congress Asset Management Co. lifted its stake in 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 purchasing an additional 6,352 shares in the last quarter. 93.85% of the stock is currently owned by institutional investors and hedge funds.

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.