Brokerages Set MoonLake Immunotherapeutics (NASDAQ:MLTX) PT at $80.50

Shares of MoonLake Immunotherapeutics (NASDAQ:MLTX) have been assigned an average recommendation of “Buy” from the eight analysts that are covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $80.50.

A number of research firms have issued reports on MLTX. Needham & Company LLC increased their target price on MoonLake Immunotherapeutics from $62.00 to $66.00 and gave the stock a “buy” rating in a report on Thursday, February 27th. Royal Bank of Canada initiated coverage on MoonLake Immunotherapeutics in a report on Tuesday, March 18th. They set an “outperform” rating and a $67.00 price objective for the company. HC Wainwright restated a “buy” rating and issued a $100.00 target price on shares of MoonLake Immunotherapeutics in a research note on Thursday, February 27th. Finally, The Goldman Sachs Group decreased their price target on shares of MoonLake Immunotherapeutics from $82.00 to $73.00 and set a “buy” rating for the company in a research note on Thursday, February 27th.

Institutional Investors Weigh In On MoonLake Immunotherapeutics

Large investors have recently made changes to their positions in the stock. The Manufacturers Life Insurance Company increased its holdings in MoonLake Immunotherapeutics by 3.4% during the third quarter. The Manufacturers Life Insurance Company now owns 118,126 shares of the company’s stock worth $5,956,000 after buying an additional 3,892 shares during the last quarter. FMR LLC grew its position in shares of MoonLake Immunotherapeutics by 35.8% in the 3rd quarter. FMR LLC now owns 4,950,224 shares of the company’s stock valued at $249,590,000 after acquiring an additional 1,306,215 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of MoonLake Immunotherapeutics by 96.4% during 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 worth $1,806,000 after purchasing an additional 17,580 shares during the last quarter. Fred Alger Management LLC raised its holdings in shares of MoonLake Immunotherapeutics by 1.1% in the 3rd quarter. Fred Alger Management LLC now owns 666,574 shares of the company’s stock valued at $33,609,000 after purchasing an additional 7,545 shares during the period. Finally, Erste Asset Management GmbH acquired a new stake in MoonLake Immunotherapeutics in the 3rd quarter valued at about $741,000. Institutional investors and hedge funds own 93.85% of the company’s stock.

MoonLake Immunotherapeutics Price Performance

NASDAQ:MLTX opened at $36.35 on Friday. The business’s 50-day simple moving average is $41.89 and its 200-day simple moving average is $47.60. MoonLake Immunotherapeutics has a fifty-two week low of $36.34 and a fifty-two week high of $58.26. The stock has a market capitalization of $2.33 billion, a PE ratio of -28.18 and a beta of 1.31.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last announced its 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). On average, research analysts expect that MoonLake Immunotherapeutics will post -1.79 earnings per share for the current year.

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.