MoonLake Immunotherapeutics (NASDAQ:MLTX) Rating Increased to Buy at The Goldman Sachs Group

The Goldman Sachs Group upgraded shares of MoonLake Immunotherapeutics (NASDAQ:MLTX) from a neutral rating to a buy rating in a research report report published on Friday, Marketbeat.com reports. They currently have $82.00 target price on the stock, up from their prior target price of $62.00.

MLTX has been the subject of a number of other research reports. HC Wainwright reiterated a “buy” rating and issued a $100.00 target price on shares of MoonLake Immunotherapeutics in a research report on Friday, January 10th. Cantor Fitzgerald reiterated an “overweight” rating on shares of MoonLake Immunotherapeutics in a report on Monday, September 23rd. Finally, Wedbush reissued an “outperform” rating and set a $73.00 target price (down previously from $92.00) on shares of MoonLake Immunotherapeutics in a report on Tuesday, November 5th. One analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $84.29.

MoonLake Immunotherapeutics Trading Up 5.6 %

MLTX opened at $43.81 on Friday. The business’s 50 day moving average is $51.63 and its 200-day moving average is $48.94. The stock has a market cap of $2.80 billion, a PE ratio of -33.96 and a beta of 1.31. MoonLake Immunotherapeutics has a twelve month low of $37.55 and a twelve month high of $64.98.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last announced its quarterly earnings results on Thursday, November 7th. The company reported ($0.56) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.44) by ($0.12). During the same period in the prior year, the business posted ($0.18) earnings per share. As a group, analysts forecast that MoonLake Immunotherapeutics will post -1.75 EPS for the current year.

Institutional Trading of MoonLake Immunotherapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in MLTX. US Bancorp DE bought a new stake in MoonLake Immunotherapeutics during the third quarter worth approximately $44,000. Quarry LP lifted its position in shares of MoonLake Immunotherapeutics by 172.7% during the 2nd quarter. Quarry LP now owns 3,000 shares of the company’s stock valued at $132,000 after acquiring an additional 1,900 shares during the last quarter. Barclays PLC boosted its stake in shares of MoonLake Immunotherapeutics by 1,269.2% during the 3rd quarter. Barclays PLC now owns 5,641 shares of the company’s stock worth $283,000 after acquiring an additional 5,229 shares in the last quarter. Handelsbanken Fonder AB grew its holdings in shares of MoonLake Immunotherapeutics by 26.2% in the 3rd quarter. Handelsbanken Fonder AB now owns 13,000 shares of the company’s stock worth $655,000 after acquiring an additional 2,700 shares during the last quarter. Finally, AlphaCentric Advisors LLC acquired a new stake in shares of MoonLake Immunotherapeutics during the third quarter worth $706,000. 93.85% of the stock is currently owned by institutional investors.

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.