MoonLake Immunotherapeutics (NASDAQ:MLTX) Raised to Outperform at Wolfe Research

MoonLake Immunotherapeutics (NASDAQ:MLTX) was upgraded by Wolfe Research from an “underperform” rating to an “outperform” rating in a research report issued to clients and investors on Monday, Marketbeat reports. The firm currently has a $24.00 price objective on the stock, up from their prior price objective of $12.00. Wolfe Research’s price objective indicates a potential upside of 43.63% from the stock’s current price.

Several other brokerages have also recently commented on MLTX. Needham & Company LLC boosted their price target on MoonLake Immunotherapeutics from $20.00 to $25.00 and gave the company a “buy” rating in a research note on Monday, February 23rd. UBS Group set a $24.00 target price on shares of MoonLake Immunotherapeutics in a research note on Friday, January 9th. Rothschild & Co Redburn raised shares of MoonLake Immunotherapeutics from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $12.00 to $40.00 in a research report on Thursday, March 19th. Oppenheimer increased their price target on shares of MoonLake Immunotherapeutics from $30.00 to $35.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 24th. Finally, The Goldman Sachs Group downgraded shares of MoonLake Immunotherapeutics from a “neutral” rating to a “sell” rating and raised their price target for the company from $8.00 to $10.00 in a report on Wednesday, January 14th. Nine investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $23.08.

MoonLake Immunotherapeutics Price Performance

Shares of MLTX opened at $16.71 on Monday. The business’s 50-day moving average is $16.81 and its 200-day moving average is $18.23. The company has a debt-to-equity ratio of 0.24, a current ratio of 9.27 and a quick ratio of 9.27. The company has a market capitalization of $1.20 billion, a price-to-earnings ratio of -4.75 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 posted its quarterly earnings results on Wednesday, February 25th. The company reported ($0.92) EPS for the quarter, hitting the consensus estimate of ($0.92). During the same quarter last year, the firm earned ($0.72) EPS. Equities research analysts expect that MoonLake Immunotherapeutics will post -1.79 EPS for the current fiscal year.

Institutional Investors Weigh In On MoonLake Immunotherapeutics

A number of large investors have recently added to or reduced their stakes in MLTX. Millennium Management LLC raised its position in shares of MoonLake Immunotherapeutics by 3,343.2% in the first quarter. Millennium Management LLC now owns 344,320 shares of the company’s stock valued at $13,453,000 after purchasing an additional 334,320 shares during the period. Geode Capital Management LLC lifted its stake in shares of MoonLake Immunotherapeutics by 0.9% in the second quarter. Geode Capital Management LLC now owns 59,553 shares of the company’s stock worth $2,809,000 after buying an additional 559 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of MoonLake Immunotherapeutics by 4,584.5% during the 2nd quarter. JPMorgan Chase & Co. now owns 39,397 shares of the company’s stock worth $1,860,000 after buying an additional 38,556 shares during the period. Legal & General Group Plc boosted its holdings in shares of MoonLake Immunotherapeutics by 7.3% during the 2nd quarter. Legal & General Group Plc now owns 20,905 shares of the company’s stock worth $987,000 after buying an additional 1,425 shares during the period. Finally, Elevation Point Wealth Partners LLC acquired a new position in MoonLake Immunotherapeutics in the 2nd quarter valued at $74,000. Institutional investors own 93.85% of the company’s stock.

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.