Rothschild & Co Redburn Upgrades MoonLake Immunotherapeutics (NASDAQ:MLTX) to Buy

MoonLake Immunotherapeutics (NASDAQ:MLTX) was upgraded by analysts at Rothschild & Co Redburn from a “neutral” rating to a “buy” rating in a research note issued on Thursday, MarketBeat Ratings reports. The brokerage currently has a $40.00 price target on the stock, up from their previous price target of $12.00. Rothschild & Co Redburn’s price target points to a potential upside of 145.85% from the company’s previous close.

MLTX has been the topic of a number of other reports. Oppenheimer upped their target price on shares of MoonLake Immunotherapeutics from $30.00 to $35.00 and gave the company an “outperform” rating in a report on Tuesday, February 24th. HC Wainwright lifted their price target on shares of MoonLake Immunotherapeutics from $32.00 to $40.00 and gave the stock a “buy” rating in a report on Monday, March 2nd. BTIG Research boosted their price objective on shares of MoonLake Immunotherapeutics from $24.00 to $30.00 and gave the company a “buy” rating in a research report on Monday, February 23rd. Royal Bank Of Canada upped their price objective on shares of MoonLake Immunotherapeutics from $12.00 to $13.00 and gave the company a “sector perform” rating in a research note on Monday, March 2nd. Finally, Needham & Company LLC lifted their target price on shares of MoonLake Immunotherapeutics from $20.00 to $25.00 and gave the stock a “buy” rating in a research note on Monday, February 23rd. Eight investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and four have issued a Sell rating to the company’s stock. According to data from MarketBeat, MoonLake Immunotherapeutics currently has a consensus rating of “Hold” and a consensus target price of $25.92.

MoonLake Immunotherapeutics Stock Performance

MoonLake Immunotherapeutics stock opened at $16.27 on Thursday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 9.27 and a current ratio of 9.27. The stock has a fifty day moving average of $16.84 and a two-hundred day moving average of $19.39. The company has a market capitalization of $1.17 billion, a price-to-earnings ratio of -4.62 and a beta of 1.20. MoonLake Immunotherapeutics has a fifty-two week low of $5.95 and a fifty-two week high of $62.75.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last issued its quarterly earnings data on Wednesday, February 25th. The company reported ($0.92) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.92). During the same period in the previous year, the company earned ($0.72) earnings per share. On average, analysts anticipate that MoonLake Immunotherapeutics will post -1.79 EPS for the current fiscal year.

Institutional Trading of MoonLake Immunotherapeutics

Several institutional investors have recently added to or reduced their stakes in MLTX. Elevation Point Wealth Partners LLC bought a new position in shares of MoonLake Immunotherapeutics in the 2nd quarter worth about $74,000. Kestra Advisory Services LLC acquired a new position in shares of MoonLake Immunotherapeutics in the 4th quarter valued at about $26,000. Russell Investments Group Ltd. grew its position in shares of MoonLake Immunotherapeutics by 45.4% during the 4th quarter. Russell Investments Group Ltd. now owns 3,426 shares of the company’s stock valued at $45,000 after buying an additional 1,069 shares during the last quarter. T. Rowe Price Investment Management Inc. acquired a new stake in MoonLake Immunotherapeutics during the fourth quarter worth about $47,000. Finally, FNY Investment Advisers LLC acquired a new stake in MoonLake Immunotherapeutics during the third quarter worth about $28,000. 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.