MoonLake Immunotherapeutics (NASDAQ:MLTX) Upgraded by Wolfe Research to Outperform Rating

MoonLake Immunotherapeutics (NASDAQ:MLTX) was upgraded by investment analysts at Wolfe Research from a “peer perform” rating to an “outperform” rating in a report issued on Monday,Benzinga reports. The firm currently has a $61.00 price target on the stock. Wolfe Research’s price objective indicates a potential upside of 62.15% from the stock’s previous close.

A number of other research firms have also weighed in on MLTX. Wedbush restated an “outperform” rating and set a $80.00 price target (up from $78.00) on shares of MoonLake Immunotherapeutics in a research report on Tuesday, May 13th. HC Wainwright reiterated a “buy” rating and issued a $100.00 target price on shares of MoonLake Immunotherapeutics in a report on Thursday, February 27th. Royal Bank of Canada started coverage on shares of MoonLake Immunotherapeutics in a report on Tuesday, March 18th. They issued an “outperform” rating and a $67.00 target price on the stock. The Goldman Sachs Group decreased their target price 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, Needham & Company LLC reiterated a “buy” rating and issued a $66.00 target price on shares of MoonLake Immunotherapeutics in a report on Tuesday, May 13th. Eight investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, MoonLake Immunotherapeutics has an average rating of “Buy” and an average price target of $78.71.

MoonLake Immunotherapeutics Stock Down 0.1%

MLTX stock opened at $37.62 on Monday. The stock has a market capitalization of $2.41 billion, a P/E ratio of -29.16 and a beta of 1.31. MoonLake Immunotherapeutics has a 52 week low of $31.42 and a 52 week high of $58.26. The firm has a 50-day simple moving average of $38.40 and a 200-day simple moving average of $44.70.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last posted its quarterly earnings results on Monday, May 12th. The company reported ($0.63) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.76) by $0.13. During the same quarter last year, the business earned ($0.22) EPS. On average, analysts expect that MoonLake Immunotherapeutics will post -1.79 earnings per share for the current year.

Institutional Investors Weigh In On MoonLake Immunotherapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in MLTX. FMR LLC raised its stake in shares of MoonLake Immunotherapeutics by 28.1% in the 4th quarter. FMR LLC now owns 6,341,391 shares of the company’s stock valued at $343,386,000 after acquiring an additional 1,391,167 shares during the period. Paradigm Biocapital Advisors LP increased its stake in MoonLake Immunotherapeutics by 90.3% during the 4th quarter. Paradigm Biocapital Advisors LP now owns 1,772,211 shares of the company’s stock worth $95,965,000 after buying an additional 840,731 shares during the period. Nuveen LLC purchased a new stake in MoonLake Immunotherapeutics during the 1st quarter worth approximately $26,308,000. Polar Capital Holdings Plc increased its stake in MoonLake Immunotherapeutics by 120.0% during the 4th quarter. Polar Capital Holdings Plc now owns 1,100,000 shares of the company’s stock worth $59,565,000 after buying an additional 600,000 shares during the period. Finally, Price T Rowe Associates Inc. MD increased its stake in MoonLake Immunotherapeutics by 12.2% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,343,643 shares of the company’s stock worth $181,059,000 after buying an additional 363,394 shares during the period. 93.85% of the stock is owned by hedge funds and other institutional investors.

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.