MoonLake Immunotherapeutics’ (MLTX) Buy Rating Reiterated at Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of MoonLake Immunotherapeutics (NASDAQ:MLTX) in a research report released on Tuesday,Benzinga reports. Needham & Company LLC currently has a $66.00 price target on the stock.

Several other research firms also recently weighed in on MLTX. HC Wainwright reaffirmed a “buy” rating and issued a $100.00 price objective on shares of MoonLake Immunotherapeutics in a research note on Thursday, February 27th. Royal Bank of Canada assumed coverage on MoonLake Immunotherapeutics in a research note on Tuesday, March 18th. They issued an “outperform” rating and a $67.00 price objective for the company. Finally, The Goldman Sachs Group dropped their price objective on MoonLake Immunotherapeutics from $82.00 to $73.00 and set a “buy” rating for the company in a research note on Thursday, February 27th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $81.67.

MoonLake Immunotherapeutics Trading Up 1.8%

MoonLake Immunotherapeutics stock opened at $37.66 on Tuesday. MoonLake Immunotherapeutics has a twelve month low of $31.42 and a twelve month high of $58.26. The stock has a 50 day moving average of $38.41 and a two-hundred day moving average of $44.80. The stock has a market capitalization of $2.41 billion, a price-to-earnings ratio of -29.19 and a beta of 1.31.

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

Hedge Funds Weigh In On MoonLake Immunotherapeutics

Several hedge funds have recently bought and sold shares of MLTX. Barclays PLC increased its position 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 buying an additional 5,229 shares in the last quarter. Congress Asset Management Co. increased its position 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 buying an additional 6,352 shares in the last quarter. Rice Hall James & Associates LLC increased its position in MoonLake Immunotherapeutics by 47.3% during the fourth quarter. Rice Hall James & Associates LLC now owns 111,133 shares of the company’s stock worth $6,018,000 after buying an additional 35,664 shares in the last quarter. PNC Financial Services Group Inc. increased its position in MoonLake Immunotherapeutics by 3.9% during the fourth quarter. PNC Financial Services Group Inc. now owns 8,500 shares of the company’s stock worth $460,000 after buying an additional 320 shares in the last quarter. Finally, Teacher Retirement System of Texas increased its position in MoonLake Immunotherapeutics by 18.4% during the fourth quarter. Teacher Retirement System of Texas now owns 6,532 shares of the company’s stock worth $354,000 after buying an additional 1,013 shares in the last quarter. Hedge funds and other institutional investors 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.