MoonLake Immunotherapeutics (NASDAQ:MLTX) Upgraded to Buy at The Goldman Sachs Group

MoonLake Immunotherapeutics (NASDAQ:MLTX) was upgraded by equities researchers at The Goldman Sachs Group from a “neutral” rating to a “buy” rating in a research note issued to investors on Friday,Benzinga reports. The firm presently has a $82.00 target price on the stock, up from their prior target price of $62.00. The Goldman Sachs Group’s price objective suggests a potential upside of 97.73% from the company’s previous close.

MLTX has been the topic of several other research reports. HC Wainwright reiterated a “buy” rating and issued a $100.00 price target on shares of MoonLake Immunotherapeutics in a report on Friday, January 10th. Cantor Fitzgerald reissued an “overweight” rating on shares of MoonLake Immunotherapeutics in a report on Monday, September 23rd. Finally, Wedbush restated an “outperform” rating and set a $73.00 target price (down from $92.00) on shares of MoonLake Immunotherapeutics in a research report on Tuesday, November 5th. One research analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, MoonLake Immunotherapeutics has a consensus rating of “Buy” and a consensus price target of $84.29.

MoonLake Immunotherapeutics Trading Down 5.7 %

NASDAQ:MLTX opened at $41.47 on Friday. MoonLake Immunotherapeutics has a twelve month low of $37.55 and a twelve month high of $64.98. The company has a market cap of $2.65 billion, a PE ratio of -32.15 and a beta of 1.31. The company’s 50 day moving average is $51.79 and its two-hundred day moving average is $48.93.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last issued its earnings results on Thursday, November 7th. The company reported ($0.56) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.44) by ($0.12). During the same period in the prior year, the firm posted ($0.18) earnings per share. As a group, analysts expect that MoonLake Immunotherapeutics will post -1.75 EPS for the current fiscal year.

Hedge Funds Weigh In On MoonLake Immunotherapeutics

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

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.