Analysts Set MoonLake Immunotherapeutics (NASDAQ:MLTX) Target Price at $76.57

MoonLake Immunotherapeutics (NASDAQ:MLTX) has earned a consensus rating of “Moderate Buy” from the thirteen brokerages that are currently covering the firm, Marketbeat reports. Three research analysts have rated the stock with a hold rating and ten have issued a buy rating on the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $79.00.

Several analysts recently commented on the stock. HC Wainwright restated a “buy” rating and set a $100.00 price target on shares of MoonLake Immunotherapeutics in a report on Monday. Wedbush reaffirmed an “outperform” rating and issued a $92.00 price target on shares of MoonLake Immunotherapeutics in a research note on Wednesday, March 13th. The Goldman Sachs Group began coverage on MoonLake Immunotherapeutics in a research report on Tuesday, April 2nd. They set a “neutral” rating and a $62.00 price objective for the company. Needham & Company LLC reaffirmed a “buy” rating and issued a $66.00 target price on shares of MoonLake Immunotherapeutics in a research report on Monday, June 10th. Finally, Oppenheimer initiated coverage on shares of MoonLake Immunotherapeutics in a research note on Tuesday, June 25th. They issued an “outperform” rating and a $104.00 target price for the company.

MoonLake Immunotherapeutics Price Performance

Shares of NASDAQ:MLTX opened at $40.15 on Wednesday. The company’s fifty day moving average is $41.35 and its two-hundred day moving average is $49.09. MoonLake Immunotherapeutics has a 12-month low of $35.11 and a 12-month high of $64.98.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last announced its quarterly earnings data on Sunday, May 12th. The company reported ($0.22) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($0.03). On average, equities research analysts forecast that MoonLake Immunotherapeutics will post -1.21 EPS 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 business. Quarry LP bought a new position in MoonLake Immunotherapeutics during the fourth quarter worth about $51,000. Barclays PLC acquired a new stake in MoonLake Immunotherapeutics in the 3rd quarter valued at $189,000. Stratos Wealth Partners LTD. acquired a new position in MoonLake Immunotherapeutics during the fourth quarter worth $202,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in MoonLake Immunotherapeutics during the fourth quarter worth $217,000. Finally, Bellevue Group AG bought a new position in shares of MoonLake Immunotherapeutics during the first quarter valued at $221,000. 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.