Oppenheimer Begins Coverage on MoonLake Immunotherapeutics (NASDAQ:MLTX)

Oppenheimer began coverage on shares of MoonLake Immunotherapeutics (NASDAQ:MLTX) in a research report sent to investors on Tuesday morning, MarketBeat Ratings reports. The firm issued an outperform rating and a $104.00 target price on the stock.

Other analysts also recently issued research reports about the company. William Blair restated an outperform rating and issued a $92.00 price target on shares of MoonLake Immunotherapeutics in a research note on Monday, February 26th. HC Wainwright reaffirmed a buy rating and issued a $100.00 price objective on shares of MoonLake Immunotherapeutics in a research report on Tuesday, June 11th. The Goldman Sachs Group started coverage on MoonLake Immunotherapeutics in a research report on Tuesday, April 2nd. They issued a neutral rating and a $62.00 price objective on the stock. Wedbush reaffirmed an outperform rating and issued a $92.00 price objective on shares of MoonLake Immunotherapeutics in a research report on Wednesday, March 13th. Finally, Needham & Company LLC reaffirmed a buy rating and issued a $66.00 price objective on shares of MoonLake Immunotherapeutics in a research report on Monday, June 10th. Three analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of Moderate Buy and a consensus price target of $79.00.

MoonLake Immunotherapeutics Stock Up 3.7 %

MoonLake Immunotherapeutics stock opened at $41.69 on Tuesday. The company has a market capitalization of $2.66 billion, a P/E ratio of -55.59 and a beta of 1.25. The stock’s 50 day moving average is $41.36 and its 200 day moving average is $49.51. MoonLake Immunotherapeutics has a twelve month low of $35.11 and a twelve month high of $64.98.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last posted its quarterly earnings results on Sunday, May 12th. The company reported ($0.22) earnings per share for the quarter, missing the consensus estimate of ($0.19) by ($0.03). As a group, equities analysts expect that MoonLake Immunotherapeutics will post -1.23 EPS for the current year.

Hedge Funds Weigh In On MoonLake Immunotherapeutics

A number of institutional investors have recently bought and sold shares of MLTX. Adage Capital Partners GP L.L.C. raised its holdings in MoonLake Immunotherapeutics by 42.3% in the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 1,952,703 shares of the company’s stock worth $111,304,000 after purchasing an additional 580,375 shares during the period. Avoro Capital Advisors LLC raised its holdings in MoonLake Immunotherapeutics by 29.0% in the 4th quarter. Avoro Capital Advisors LLC now owns 2,580,000 shares of the company’s stock worth $155,806,000 after purchasing an additional 580,001 shares during the period. Finepoint Capital LP raised its holdings in MoonLake Immunotherapeutics by 170.1% in the 4th quarter. Finepoint Capital LP now owns 895,000 shares of the company’s stock worth $54,049,000 after purchasing an additional 563,584 shares during the period. TimesSquare Capital Management LLC raised its holdings in MoonLake Immunotherapeutics by 1,270.7% in the 3rd quarter. TimesSquare Capital Management LLC now owns 411,215 shares of the company’s stock worth $23,439,000 after purchasing an additional 381,215 shares during the period. Finally, Avidity Partners Management LP raised its holdings in MoonLake Immunotherapeutics by 94.3% in the 3rd quarter. Avidity Partners Management LP now owns 777,172 shares of the company’s stock worth $44,299,000 after purchasing an additional 377,172 shares during the period. 93.85% of the stock is owned by 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.