MoonLake Immunotherapeutics (NASDAQ:MLTX) Receives $83.20 Consensus Price Target from Analysts

MoonLake Immunotherapeutics (NASDAQ:MLTX) has received an average recommendation of “Buy” from the seven research firms that are currently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation, five have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $83.20.

A number of analysts have weighed in on the stock. Needham & Company LLC increased their target price on shares of MoonLake Immunotherapeutics from $62.00 to $66.00 and gave the stock a “buy” rating in a report on Thursday, February 27th. The Goldman Sachs Group dropped their price objective on shares of MoonLake Immunotherapeutics from $82.00 to $73.00 and set a “buy” rating on the stock in a report on Thursday, February 27th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $100.00 price objective on shares of MoonLake Immunotherapeutics in a report on Thursday, February 27th.

MoonLake Immunotherapeutics Stock Performance

Shares of NASDAQ:MLTX opened at $38.03 on Monday. The stock has a market capitalization of $2.43 billion, a price-to-earnings ratio of -29.48 and a beta of 1.31. MoonLake Immunotherapeutics has a 1-year low of $37.55 and a 1-year high of $58.26. The company’s fifty day moving average is $45.10 and its two-hundred day moving average is $48.64.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last issued its earnings results on Wednesday, February 26th. The company reported ($0.72) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.63) by ($0.09). Sell-side analysts expect that MoonLake Immunotherapeutics will post -1.79 EPS for the current fiscal year.

Institutional Trading of MoonLake Immunotherapeutics

Large investors have recently modified their holdings of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in MoonLake Immunotherapeutics by 96.4% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 35,814 shares of the company’s stock valued at $1,806,000 after buying an additional 17,580 shares in the last quarter. Erste Asset Management GmbH bought a new position in MoonLake Immunotherapeutics in the 3rd quarter valued at about $741,000. Barclays PLC grew its position in MoonLake Immunotherapeutics by 1,269.2% in 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 grew its position in MoonLake Immunotherapeutics by 96.2% in the 3rd quarter. State Street Corp now owns 87,637 shares of the company’s stock valued at $4,419,000 after buying an additional 42,980 shares in the last quarter. Finally, Congress Asset Management Co. grew its position in MoonLake Immunotherapeutics by 9.5% in the 4th quarter. Congress Asset Management Co. now owns 72,993 shares of the company’s stock valued at $3,953,000 after buying an additional 6,352 shares in the last quarter. Institutional investors and hedge funds own 93.85% of the company’s stock.

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.