MoonLake Immunotherapeutics (NASDAQ:MLTX) Stock Price Expected to Rise, Needham & Company LLC Analyst Says

MoonLake Immunotherapeutics (NASDAQ:MLTX) had its target price boosted by investment analysts at Needham & Company LLC from $62.00 to $66.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has a “buy” rating on the stock. Needham & Company LLC’s target price would indicate a potential upside of 55.77% from the stock’s current price.

A number of other research analysts also recently commented on MLTX. HC Wainwright reaffirmed a “buy” rating and issued a $100.00 price target on shares of MoonLake Immunotherapeutics in a report on Thursday. The Goldman Sachs Group raised MoonLake Immunotherapeutics from a “neutral” rating to a “buy” rating and raised their price objective for the company from $62.00 to $82.00 in a research note on Friday, January 17th. 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 research report on Tuesday, November 5th. One equities research analyst has rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $85.00.

MoonLake Immunotherapeutics Price Performance

Shares of MLTX opened at $42.37 on Thursday. The stock has a market capitalization of $2.71 billion, a price-to-earnings ratio of -32.84 and a beta of 1.28. MoonLake Immunotherapeutics has a 1 year low of $37.55 and a 1 year high of $58.26. The business’s 50 day simple moving average is $46.90 and its 200-day simple moving average is $48.99.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last released its quarterly earnings results on Wednesday, February 26th. The company reported ($0.72) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.63) by ($0.09). On average, sell-side analysts expect that MoonLake Immunotherapeutics will post -1.79 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. FMR LLC grew its stake in MoonLake Immunotherapeutics by 28.1% in the 4th quarter. FMR LLC now owns 6,341,391 shares of the company’s stock worth $343,386,000 after acquiring an additional 1,391,167 shares in the last quarter. Paradigm Biocapital Advisors LP lifted its position in MoonLake Immunotherapeutics by 90.3% during the fourth quarter. Paradigm Biocapital Advisors LP now owns 1,772,211 shares of the company’s stock valued at $95,965,000 after acquiring an additional 840,731 shares during the last quarter. Polar Capital Holdings Plc boosted its position in shares of MoonLake Immunotherapeutics by 120.0% in the 4th quarter. Polar Capital Holdings Plc now owns 1,100,000 shares of the company’s stock worth $59,565,000 after purchasing an additional 600,000 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in MoonLake Immunotherapeutics by 12.2% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,343,643 shares of the company’s stock worth $181,059,000 after acquiring an additional 363,394 shares in the last quarter. Finally, Federated Hermes Inc. lifted its stake in shares of MoonLake Immunotherapeutics by 13.2% during the fourth quarter. Federated Hermes Inc. now owns 1,280,052 shares of the company’s stock worth $69,315,000 after buying an additional 149,724 shares during the period. 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.