MoonLake Immunotherapeutics (NASDAQ:MLTX) Earns “Buy” Rating from HC Wainwright

MoonLake Immunotherapeutics (NASDAQ:MLTX)‘s stock had its “buy” rating reissued by equities research analysts at HC Wainwright in a research note issued to investors on Friday,Benzinga reports. They currently have a $100.00 target price on the stock. HC Wainwright’s price objective indicates a potential upside of 107.60% from the company’s current price.

Several other research analysts have also recently issued reports on the stock. 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. Cantor Fitzgerald reiterated an “overweight” rating on shares of MoonLake Immunotherapeutics in a research note on Monday, September 23rd. Finally, Needham & Company LLC restated a “buy” rating and issued a $62.00 target price on shares of MoonLake Immunotherapeutics in a research note on Thursday, September 12th. Two equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $81.43.

MoonLake Immunotherapeutics Stock Performance

Shares of MLTX opened at $48.17 on Friday. The stock has a 50-day moving average of $52.18 and a two-hundred day moving average of $48.80. The stock has a market cap of $3.08 billion, a P/E ratio of -37.34 and a beta of 1.31. MoonLake Immunotherapeutics has a one year low of $37.55 and a one year high of $64.98.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last released its earnings results on Thursday, November 7th. The company reported ($0.56) EPS for the quarter, missing analysts’ consensus estimates of ($0.44) by ($0.12). During the same period in the previous year, the business earned ($0.18) earnings per share. Analysts predict that MoonLake Immunotherapeutics will post -1.75 EPS for the current fiscal year.

Institutional Investors Weigh In On MoonLake Immunotherapeutics

A number of hedge funds have recently modified their holdings of the company. US Bancorp DE acquired a new position in MoonLake Immunotherapeutics in the 3rd quarter valued at about $44,000. Quarry LP lifted its holdings in MoonLake Immunotherapeutics by 172.7% in the second 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 grew its position in MoonLake Immunotherapeutics by 1,269.2% in the third quarter. Barclays PLC now owns 5,641 shares of the company’s stock worth $283,000 after acquiring an additional 5,229 shares during the period. Handelsbanken Fonder AB grew its position in MoonLake Immunotherapeutics by 26.2% in the third 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 period. Finally, AlphaCentric Advisors LLC acquired a new stake in MoonLake Immunotherapeutics during the third quarter worth $706,000. Hedge funds and other 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.