MoonLake Immunotherapeutics (NASDAQ:MLTX) Given Consensus Recommendation of “Buy” by Analysts

MoonLake Immunotherapeutics (NASDAQ:MLTX) has been assigned a consensus rating of “Buy” from the eight ratings firms that are currently covering the stock, Marketbeat reports. One research analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $84.29.

Several research analysts have weighed in on the company. The Goldman Sachs Group upgraded MoonLake Immunotherapeutics from a “neutral” rating to a “buy” rating and upped their price target for the stock from $62.00 to $82.00 in a research note on Friday, January 17th. Wedbush restated an “outperform” rating and issued a $73.00 price target (down from $92.00) on shares of MoonLake Immunotherapeutics in a research note on Tuesday, November 5th. Finally, HC Wainwright restated a “buy” rating and issued a $100.00 price target on shares of MoonLake Immunotherapeutics in a research note on Friday, January 10th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of MLTX. US Bancorp DE purchased a new stake in MoonLake Immunotherapeutics during the 3rd quarter valued at $44,000. Barclays PLC raised its holdings in MoonLake Immunotherapeutics by 1,269.2% during the 3rd quarter. Barclays PLC now owns 5,641 shares of the company’s stock valued at $283,000 after buying an additional 5,229 shares during the period. PNC Financial Services Group Inc. raised its holdings in MoonLake Immunotherapeutics by 3.9% during the 4th quarter. PNC Financial Services Group Inc. now owns 8,500 shares of the company’s stock valued at $460,000 after buying an additional 320 shares during the period. Handelsbanken Fonder AB raised its holdings in MoonLake Immunotherapeutics by 26.2% during the 3rd quarter. Handelsbanken Fonder AB now owns 13,000 shares of the company’s stock valued at $655,000 after buying an additional 2,700 shares during the period. Finally, AlphaCentric Advisors LLC purchased a new stake in MoonLake Immunotherapeutics during the 3rd quarter valued at $706,000. 93.85% of the stock is currently owned by institutional investors.

MoonLake Immunotherapeutics Price Performance

MLTX stock opened at $44.07 on Thursday. MoonLake Immunotherapeutics has a 1-year low of $37.55 and a 1-year high of $64.98. The company has a market capitalization of $2.82 billion, a price-to-earnings ratio of -34.16 and a beta of 1.28. The business has a 50 day simple moving average of $49.69 and a two-hundred day simple moving average of $49.07.

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.