MoonLake Immunotherapeutics (NASDAQ:MLTX) Receives “Buy” Rating from Needham & Company LLC

Needham & Company LLC reiterated their buy rating on shares of MoonLake Immunotherapeutics (NASDAQ:MLTXFree Report) in a research note published on Monday morning, Benzinga reports. The brokerage currently has a $66.00 price objective on the stock.

A number of other equities research analysts have also recently commented on MLTX. William Blair reaffirmed an outperform rating and set a $92.00 price objective on shares of MoonLake Immunotherapeutics in a research note on Monday, February 26th. Wolfe Research started coverage on shares of MoonLake Immunotherapeutics in a report on Thursday, February 15th. They issued an outperform rating and a $77.00 price objective for the company. Wedbush reissued an outperform rating and set a $92.00 target price on shares of MoonLake Immunotherapeutics in a research note on Wednesday, March 13th. The Goldman Sachs Group assumed coverage on MoonLake Immunotherapeutics in a research note on Tuesday, April 2nd. They issued a neutral rating and a $62.00 price target for the company. Finally, HC Wainwright reiterated a buy rating and set a $100.00 price target on shares of MoonLake Immunotherapeutics in a research report on Friday, May 17th. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, MoonLake Immunotherapeutics has a consensus rating of Moderate Buy and a consensus price target of $74.46.

Get Our Latest Stock Analysis on MoonLake Immunotherapeutics

MoonLake Immunotherapeutics Price Performance

NASDAQ MLTX opened at $42.71 on Monday. MoonLake Immunotherapeutics has a 1 year low of $25.13 and a 1 year high of $64.98. The company has a market capitalization of $2.73 billion, a PE ratio of -56.95 and a beta of 1.25. The company has a fifty day moving average of $42.36 and a 200 day moving average of $50.08.

MoonLake Immunotherapeutics (NASDAQ:MLTXGet Free Report) last issued its quarterly earnings data on Sunday, May 12th. The company reported ($0.22) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($0.03). Research analysts expect that MoonLake Immunotherapeutics will post -1.16 earnings per share for the current year.

Institutional Investors Weigh In On MoonLake Immunotherapeutics

A number of hedge funds have recently modified their holdings of the business. Adage Capital Partners GP L.L.C. increased its holdings in shares of MoonLake Immunotherapeutics by 42.3% in the third quarter. Adage Capital Partners GP L.L.C. now owns 1,952,703 shares of the company’s stock valued at $111,304,000 after purchasing an additional 580,375 shares during the last quarter. Avoro Capital Advisors LLC raised its holdings in shares of MoonLake Immunotherapeutics by 29.0% during the 4th quarter. Avoro Capital Advisors LLC now owns 2,580,000 shares of the company’s stock worth $155,806,000 after acquiring an additional 580,001 shares during the period. Finepoint Capital LP boosted its position in shares of MoonLake Immunotherapeutics by 170.1% during the 4th quarter. Finepoint Capital LP now owns 895,000 shares of the company’s stock valued at $54,049,000 after acquiring an additional 563,584 shares during the last quarter. TimesSquare Capital Management LLC grew its holdings in shares of MoonLake Immunotherapeutics by 1,270.7% in the third quarter. TimesSquare Capital Management LLC now owns 411,215 shares of the company’s stock valued at $23,439,000 after purchasing an additional 381,215 shares during the period. Finally, Avidity Partners Management LP increased its position in MoonLake Immunotherapeutics by 94.3% during the third quarter. Avidity Partners Management LP now owns 777,172 shares of the company’s stock worth $44,299,000 after purchasing an additional 377,172 shares during the last quarter. 93.85% of the stock is currently owned by institutional investors and hedge funds.

About MoonLake Immunotherapeutics

(Get Free Report)

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.

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