MoonLake Immunotherapeutics (NASDAQ:MLTX) Price Target Raised to $66.00 at Needham & Company LLC

MoonLake Immunotherapeutics (NASDAQ:MLTX) had its price target upped by Needham & Company LLC from $62.00 to $66.00 in a research report report published on Thursday,Benzinga reports. Needham & Company LLC currently has a buy rating on the stock.

A number of other research analysts have also recently issued reports 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. Wedbush restated an “outperform” rating and set a $73.00 target price (down previously from $92.00) on shares of MoonLake Immunotherapeutics in a report on Tuesday, November 5th. Finally, The Goldman Sachs Group upgraded shares of MoonLake Immunotherapeutics from a “neutral” rating to a “buy” rating and raised their target price for the company from $62.00 to $82.00 in a research note on Friday, January 17th. One equities research analyst has rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, MoonLake Immunotherapeutics has an average rating of “Buy” and a consensus price target of $83.20.

MoonLake Immunotherapeutics Stock Performance

NASDAQ:MLTX opened at $41.77 on Thursday. The stock has a market cap of $2.67 billion, a price-to-earnings ratio of -32.38 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 has a fifty day moving average of $46.90 and a 200-day moving average of $48.99.

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

Institutional Investors Weigh In On MoonLake Immunotherapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the stock. PNC Financial Services Group Inc. boosted its holdings in MoonLake Immunotherapeutics by 3.9% during the fourth quarter. PNC Financial Services Group Inc. now owns 8,500 shares of the company’s stock worth $460,000 after purchasing an additional 320 shares during the last quarter. Deutsche Bank AG lifted its position in MoonLake Immunotherapeutics by 59.8% during the fourth quarter. Deutsche Bank AG now owns 903 shares of the company’s stock valued at $49,000 after purchasing an additional 338 shares during the last quarter. GSA Capital Partners LLP boosted its holdings in shares of MoonLake Immunotherapeutics by 1.9% in the 3rd quarter. GSA Capital Partners LLP now owns 22,127 shares of the company’s stock worth $1,116,000 after purchasing an additional 403 shares in the last quarter. Geode Capital Management LLC raised its position in MoonLake Immunotherapeutics by 0.9% in the 4th quarter. Geode Capital Management LLC now owns 58,950 shares of the company’s stock worth $3,192,000 after purchasing an additional 540 shares during the period. Finally, DnB Asset Management AS lifted its position in MoonLake Immunotherapeutics by 11.3% in the fourth quarter. DnB Asset Management AS now owns 8,356 shares of the company’s stock valued at $452,000 after purchasing an additional 847 shares during the last quarter. 93.85% of the stock is owned by institutional investors.

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.