MoonLake Immunotherapeutics (NASDAQ:MLTX) Stock Rating Reaffirmed by Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of MoonLake Immunotherapeutics (NASDAQ:MLTX) in a research note published on Thursday, Benzinga reports. Needham & Company LLC currently has a $62.00 price target on the stock.

MLTX has been the subject of several other reports. HC Wainwright reiterated a buy rating and set a $100.00 target price on shares of MoonLake Immunotherapeutics in a research note on Thursday. Cantor Fitzgerald reiterated an overweight rating on shares of MoonLake Immunotherapeutics in a research note on Monday, September 9th. Oppenheimer started coverage on MoonLake Immunotherapeutics in a research note on Tuesday, June 25th. They set an outperform rating and a $104.00 target price for the company. Finally, Wolfe Research cut MoonLake Immunotherapeutics from an outperform rating to a peer perform rating in a research note on Monday, August 26th. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, MoonLake Immunotherapeutics presently has an average rating of Moderate Buy and an average target price of $80.45.

MoonLake Immunotherapeutics Stock Up 0.2 %

Shares of NASDAQ:MLTX opened at $51.14 on Thursday. MoonLake Immunotherapeutics has a 52-week low of $35.11 and a 52-week high of $64.98. The company has a 50 day moving average of $46.12 and a two-hundred day moving average of $44.67. The company has a market capitalization of $3.27 billion, a price-to-earnings ratio of -68.19 and a beta of 1.26.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last issued its quarterly earnings data on Wednesday, August 7th. The company reported ($0.39) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.28) by ($0.11). During the same quarter in the prior year, the business earned ($0.23) EPS. On average, equities analysts anticipate that MoonLake Immunotherapeutics will post -1.45 earnings per share for the current year.

Hedge Funds Weigh In On MoonLake Immunotherapeutics

Several large investors have recently added to or reduced their stakes in the company. Quarry LP acquired a new stake in MoonLake Immunotherapeutics in the fourth quarter worth $51,000. Bellevue Group AG acquired a new stake in MoonLake Immunotherapeutics in the first quarter worth $221,000. DNB Asset Management AS increased its position in MoonLake Immunotherapeutics by 29.8% in the second quarter. DNB Asset Management AS now owns 7,372 shares of the company’s stock worth $324,000 after buying an additional 1,694 shares during the period. PNC Financial Services Group Inc. increased its position in MoonLake Immunotherapeutics by 50.7% in the fourth quarter. PNC Financial Services Group Inc. now owns 6,147 shares of the company’s stock worth $371,000 after buying an additional 2,067 shares during the period. Finally, SG Americas Securities LLC acquired a new stake in MoonLake Immunotherapeutics in the first quarter worth $726,000. 93.85% of the stock is currently 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.