Rothschild & Co Redburn Upgrades MoonLake Immunotherapeutics (NASDAQ:MLTX) to Buy

MoonLake Immunotherapeutics (NASDAQ:MLTX) was upgraded by Rothschild & Co Redburn from a “neutral” rating to a “buy” rating in a research note issued on Thursday,Finviz reports. The brokerage presently has a $40.00 target price on the stock. Rothschild & Co Redburn’s price objective would suggest a potential upside of 146.46% from the company’s previous close.

Other equities research analysts have also recently issued research reports about the stock. BTIG Research lifted their price target on shares of MoonLake Immunotherapeutics from $24.00 to $30.00 and gave the stock a “buy” rating in a report on Monday, February 23rd. Oppenheimer increased their price objective on MoonLake Immunotherapeutics from $30.00 to $35.00 and gave the company an “outperform” rating in a report on Tuesday, February 24th. Royal Bank Of Canada raised their target price on MoonLake Immunotherapeutics from $12.00 to $13.00 and gave the stock a “sector perform” rating in a research report on Monday, March 2nd. HC Wainwright boosted their target price on MoonLake Immunotherapeutics from $32.00 to $40.00 and gave the company a “buy” rating in a research note on Monday, March 2nd. Finally, The Goldman Sachs Group cut MoonLake Immunotherapeutics from a “neutral” rating to a “sell” rating and upped their price target for the company from $8.00 to $10.00 in a research report on Wednesday, January 14th. Eight investment analysts have rated the stock with a Buy rating, four have given a Hold rating and four have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $25.92.

MoonLake Immunotherapeutics Stock Performance

NASDAQ MLTX opened at $16.23 on Thursday. The company has a market capitalization of $1.16 billion, a PE ratio of -4.61 and a beta of 1.20. The company has a debt-to-equity ratio of 0.24, a quick ratio of 9.27 and a current ratio of 9.27. MoonLake Immunotherapeutics has a 52-week low of $5.95 and a 52-week high of $62.75. The company has a 50-day simple moving average of $16.84 and a 200 day simple moving average of $19.68.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last released its earnings results on Wednesday, February 25th. The company reported ($0.92) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.92). During the same quarter in the previous year, the firm earned ($0.72) earnings per share. On average, research analysts predict that MoonLake Immunotherapeutics will post -1.79 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Virtu Financial LLC purchased a new stake in shares of MoonLake Immunotherapeutics during the fourth quarter worth $166,000. T. Rowe Price Investment Management Inc. purchased a new position in shares of MoonLake Immunotherapeutics in the fourth quarter valued at $47,000. Vident Advisory LLC bought a new stake in shares of MoonLake Immunotherapeutics during the 4th quarter valued at $204,000. Virtus Investment Advisers LLC raised its stake in shares of MoonLake Immunotherapeutics by 595.8% during the 4th quarter. Virtus Investment Advisers LLC now owns 17,987 shares of the company’s stock valued at $237,000 after purchasing an additional 15,402 shares during the period. Finally, Susquehanna Portfolio Strategies LLC purchased a new stake in MoonLake Immunotherapeutics during the 4th quarter worth about $3,347,000. 93.85% of the stock is currently owned by hedge funds and other 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.