MoonLake Immunotherapeutics (NASDAQ:MLTX) Receives Buy Rating from HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of MoonLake Immunotherapeutics (NASDAQ:MLTX) in a research report released on Friday morning,Benzinga reports. HC Wainwright currently has a $100.00 target price on the stock.

Several other equities analysts have also weighed in on MLTX. Cantor Fitzgerald reiterated an “overweight” rating on shares of MoonLake Immunotherapeutics in a report on Monday, September 23rd. Wedbush reaffirmed an “outperform” rating and set a $73.00 price target (down from $92.00) on shares of MoonLake Immunotherapeutics in a research note on Tuesday, November 5th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $62.00 price objective on shares of MoonLake Immunotherapeutics in a research note on Thursday, September 12th. Two equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, MoonLake Immunotherapeutics currently has an average rating of “Moderate Buy” and an average target price of $81.43.

MoonLake Immunotherapeutics Price Performance

NASDAQ MLTX opened at $46.31 on Friday. The stock has a market capitalization of $2.96 billion, a P/E ratio of -35.90 and a beta of 1.31. The business has a 50 day simple moving average of $52.18 and a 200 day simple moving average of $48.80. MoonLake Immunotherapeutics has a one year low of $37.55 and a one year high of $64.98.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last announced its quarterly earnings data on Thursday, November 7th. The company reported ($0.56) EPS for the quarter, missing the consensus estimate of ($0.44) by ($0.12). During the same period in the prior year, the business earned ($0.18) EPS. Equities analysts expect that MoonLake Immunotherapeutics will post -1.75 earnings per share for the current year.

Institutional Investors Weigh In On MoonLake Immunotherapeutics

Institutional investors have recently bought and sold shares of the stock. Harbor Capital Advisors Inc. grew its stake in shares of MoonLake Immunotherapeutics by 2.8% in the 4th quarter. Harbor Capital Advisors Inc. now owns 79,648 shares of the company’s stock worth $4,313,000 after acquiring an additional 2,180 shares in the last quarter. Barclays PLC grew its position in MoonLake Immunotherapeutics by 1,269.2% in the 3rd quarter. Barclays PLC now owns 5,641 shares of the company’s stock worth $283,000 after purchasing an additional 5,229 shares in the last quarter. Y Intercept Hong Kong Ltd increased its stake in MoonLake Immunotherapeutics by 55.4% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 20,325 shares of the company’s stock valued at $1,025,000 after buying an additional 7,247 shares during the last quarter. State Street Corp boosted its stake in shares of MoonLake Immunotherapeutics by 96.2% in the 3rd quarter. State Street Corp now owns 87,637 shares of the company’s stock worth $4,419,000 after buying an additional 42,980 shares during the last quarter. Finally, Parkman Healthcare Partners LLC grew its holdings in shares of MoonLake Immunotherapeutics by 1.6% in the third quarter. Parkman Healthcare Partners LLC now owns 102,813 shares of the company’s stock valued at $5,184,000 after acquiring an additional 1,589 shares in the last quarter. Institutional investors own 93.85% of the company’s stock.

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.