MoonLake Immunotherapeutics’ (MLTX) Buy Rating Reiterated at BTIG Research
by Kim Johansen · The Markets DailyMoonLake Immunotherapeutics (NASDAQ:MLTX – Get Free Report)‘s stock had its “buy” rating reissued by equities researchers at BTIG Research in a research report issued on Monday,Benzinga reports. They currently have a $30.00 target price on the stock. BTIG Research’s price target points to a potential upside of 73.21% from the company’s current price.
Several other analysts also recently commented on the stock. The Goldman Sachs Group downgraded shares of MoonLake Immunotherapeutics from a “neutral” rating to a “sell” rating and increased their target price for the company from $8.00 to $10.00 in a report on Wednesday, January 14th. UBS Group set a $24.00 price target on shares of MoonLake Immunotherapeutics in a report on Friday, January 9th. Rothschild & Co Redburn raised shares of MoonLake Immunotherapeutics from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $12.00 to $40.00 in a research report on Thursday, March 19th. HC Wainwright increased their price objective on shares of MoonLake Immunotherapeutics from $32.00 to $40.00 and gave the company a “buy” rating in a research note on Monday, March 2nd. Finally, Needham & Company LLC lifted their target price on shares of MoonLake Immunotherapeutics from $20.00 to $25.00 and gave the stock a “buy” rating in a research report on Monday, February 23rd. Nine research analysts have rated the stock with a Buy rating, four have given a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $23.08.
Get Our Latest Stock Report on MoonLake Immunotherapeutics
MoonLake Immunotherapeutics Stock Performance
Shares of MoonLake Immunotherapeutics stock opened at $17.32 on Monday. The stock has a fifty day simple moving average of $16.86 and a 200 day simple moving average of $17.39. MoonLake Immunotherapeutics has a 12-month low of $5.95 and a 12-month high of $62.75. The company has a market capitalization of $1.24 billion, a P/E ratio of -4.92 and a beta of 1.20. The company has a current ratio of 9.27, a quick ratio of 9.27 and a debt-to-equity ratio of 0.24.
MoonLake Immunotherapeutics (NASDAQ:MLTX – Get Free Report) last released its quarterly earnings results on Wednesday, February 25th. The company reported ($0.92) EPS for the quarter, meeting analysts’ consensus estimates of ($0.92). During the same period in the previous year, the business earned ($0.72) earnings per share. On average, sell-side analysts anticipate that MoonLake Immunotherapeutics will post -1.79 earnings per share for the current fiscal year.
Hedge Funds Weigh In On MoonLake Immunotherapeutics
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Millennium Management LLC grew its position in MoonLake Immunotherapeutics by 3,343.2% during the first quarter. Millennium Management LLC now owns 344,320 shares of the company’s stock valued at $13,453,000 after buying an additional 334,320 shares during the period. Geode Capital Management LLC raised its position in MoonLake Immunotherapeutics by 0.9% in the second quarter. Geode Capital Management LLC now owns 59,553 shares of the company’s stock worth $2,809,000 after acquiring an additional 559 shares during the period. JPMorgan Chase & Co. boosted its stake in MoonLake Immunotherapeutics by 4,584.5% in the second quarter. JPMorgan Chase & Co. now owns 39,397 shares of the company’s stock valued at $1,860,000 after acquiring an additional 38,556 shares during the last quarter. Legal & General Group Plc boosted its stake in MoonLake Immunotherapeutics by 7.3% in the second quarter. Legal & General Group Plc now owns 20,905 shares of the company’s stock valued at $987,000 after acquiring an additional 1,425 shares during the last quarter. Finally, Elevation Point Wealth Partners LLC bought a new position in shares of MoonLake Immunotherapeutics during the 2nd quarter valued at approximately $74,000. 93.85% of the stock is owned by hedge funds and other institutional investors.
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.