MoonLake Immunotherapeutics’ (MLTX) “Buy” Rating Reaffirmed at Needham & Company LLC

Needham & Company LLC reiterated their buy rating on shares of MoonLake Immunotherapeutics (NASDAQ:MLTX) in a research report sent to investors on Thursday, Benzinga reports. Needham & Company LLC currently has a $62.00 price target on the stock.

Several other brokerages have also commented on MLTX. Wolfe Research lowered shares of MoonLake Immunotherapeutics from an outperform rating to a peer perform rating in a research report on Monday, August 26th. Oppenheimer assumed coverage on shares of MoonLake Immunotherapeutics in a report on Tuesday, June 25th. They issued an outperform rating and a $104.00 price target for the company. Cantor Fitzgerald reiterated an overweight rating on shares of MoonLake Immunotherapeutics in a research note on Monday. Finally, HC Wainwright reissued a buy rating and issued a $100.00 target price on shares of MoonLake Immunotherapeutics in a research report on Thursday. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, MoonLake Immunotherapeutics currently has a consensus rating of Moderate Buy and a consensus target price of $80.45.

MoonLake Immunotherapeutics Trading Up 10.0 %

Shares of MLTX stock opened at $51.04 on Thursday. The company has a market cap of $3.26 billion, a PE ratio of -68.05 and a beta of 1.26. MoonLake Immunotherapeutics has a 12-month low of $35.11 and a 12-month high of $64.98. The business’s fifty day simple moving average is $45.76 and its 200-day simple moving average is $44.70.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last announced its earnings results on Wednesday, August 7th. The company reported ($0.39) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.28) by ($0.11). During the same quarter in the prior year, the business earned ($0.23) earnings per share. On average, equities analysts forecast that MoonLake Immunotherapeutics will post -1.45 earnings per share for the current year.

Hedge Funds Weigh In On MoonLake Immunotherapeutics

A number of institutional investors have recently modified their holdings of the stock. Quarry LP grew its holdings in MoonLake Immunotherapeutics by 172.7% during the second quarter. Quarry LP now owns 3,000 shares of the company’s stock worth $132,000 after acquiring an additional 1,900 shares during the period. The Manufacturers Life Insurance Company boosted its position in MoonLake Immunotherapeutics by 37.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 114,234 shares of the company’s stock worth $5,023,000 after purchasing an additional 31,401 shares in the last quarter. Millennium Management LLC boosted its position in MoonLake Immunotherapeutics by 596.0% in the 2nd quarter. Millennium Management LLC now owns 216,964 shares of the company’s stock worth $9,540,000 after purchasing an additional 185,789 shares in the last quarter. Marshall Wace LLP lifted its stake in shares of MoonLake Immunotherapeutics by 115.0% in the 2nd quarter. Marshall Wace LLP now owns 1,098,630 shares of the company’s stock valued at $48,307,000 after purchasing an additional 587,684 shares during the period. Finally, Logos Global Management LP acquired a new stake in MoonLake Immunotherapeutics during the second quarter valued at $32,978,000. Hedge funds and other 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.