Royal Bank of Canada Initiates Coverage on MoonLake Immunotherapeutics (NASDAQ:MLTX)

Equities researchers at Royal Bank of Canada began coverage on shares of MoonLake Immunotherapeutics (NASDAQ:MLTXGet Free Report) in a report issued on Tuesday,Briefing.com Automated Import reports. The brokerage set an “outperform” rating and a $67.00 price target on the stock. Royal Bank of Canada’s price objective would indicate a potential upside of 73.26% from the stock’s current price.

Several other research analysts also recently weighed in on MLTX. Needham & Company LLC increased their price target on shares of MoonLake Immunotherapeutics from $62.00 to $66.00 and gave the stock a “buy” rating in a research report on Thursday, February 27th. HC Wainwright reaffirmed a “buy” rating and issued a $100.00 target price on shares of MoonLake Immunotherapeutics in a report on Thursday, February 27th. Finally, The Goldman Sachs Group cut their price target on MoonLake Immunotherapeutics from $82.00 to $73.00 and set a “buy” rating for the company 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 given a strong buy rating to the company’s stock. According to MarketBeat.com, MoonLake Immunotherapeutics presently has an average rating of “Buy” and a consensus price target of $80.50.

Get Our Latest Stock Analysis on MoonLake Immunotherapeutics

MoonLake Immunotherapeutics Stock Performance

MLTX stock opened at $38.67 on Tuesday. The company has a market cap of $2.48 billion, a price-to-earnings ratio of -29.98 and a beta of 1.31. The business’s 50-day moving average is $43.28 and its two-hundred day moving average is $48.21. MoonLake Immunotherapeutics has a fifty-two week low of $36.52 and a fifty-two week high of $58.26.

MoonLake Immunotherapeutics (NASDAQ:MLTXGet Free Report) last released its quarterly 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). Equities analysts predict that MoonLake Immunotherapeutics will post -1.79 earnings per share for the current year.

Institutional Investors Weigh In On MoonLake Immunotherapeutics

Institutional investors and hedge funds have recently bought and sold shares of the business. Deutsche Bank AG grew its position in shares of MoonLake Immunotherapeutics by 59.8% during the fourth 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 bought a new position in MoonLake Immunotherapeutics in the 4th quarter worth approximately $217,000. KLP Kapitalforvaltning AS purchased a new stake in MoonLake Immunotherapeutics during the 4th quarter valued at approximately $244,000. PEAK6 LLC bought a new stake in shares of MoonLake Immunotherapeutics during the fourth quarter valued at approximately $271,000. Finally, Mariner LLC purchased a new position in shares of MoonLake Immunotherapeutics in the fourth quarter worth $272,000. 93.85% of the stock is owned by institutional investors.

About MoonLake Immunotherapeutics

(Get Free Report)

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.

Further Reading

Analyst Recommendations for MoonLake Immunotherapeutics (NASDAQ:MLTX)

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