MoonLake Immunotherapeutics (NASDAQ:MLTX) Upgraded at Wolfe Research

Wolfe Research upgraded shares of MoonLake Immunotherapeutics (NASDAQ:MLTX) from an underperform rating to an outperform rating in a report released on Monday, MarketBeat.com reports. They currently have $24.00 price target on the stock, up from their prior price target of $12.00.

Several other equities analysts have also recently issued reports on the company. BTIG Research boosted their target price on MoonLake Immunotherapeutics from $24.00 to $30.00 and gave the stock a “buy” rating in a research report on Monday, February 23rd. Royal Bank Of Canada raised their price target on MoonLake Immunotherapeutics from $12.00 to $13.00 and gave the company a “sector perform” rating in a report on Monday, March 2nd. Rothschild & Co Redburn upgraded MoonLake Immunotherapeutics from a “neutral” rating to a “buy” rating and lifted their price target for the company from $12.00 to $40.00 in a research note on Thursday, March 19th. Needham & Company LLC lifted their price target on MoonLake Immunotherapeutics from $20.00 to $25.00 and gave the company a “buy” rating in a research note on Monday, February 23rd. Finally, The Goldman Sachs Group lowered MoonLake Immunotherapeutics from a “neutral” rating to a “sell” rating and upped their price objective for the stock from $8.00 to $10.00 in a report on Wednesday, January 14th. Nine research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $23.08.

MoonLake Immunotherapeutics Stock Up 7.8%

Shares of MoonLake Immunotherapeutics stock opened at $18.02 on Monday. MoonLake Immunotherapeutics has a one year low of $5.95 and a one year high of $62.75. The company has a market cap of $1.29 billion, a P/E ratio of -5.12 and a beta of 1.20. The company has a debt-to-equity ratio of 0.24, a quick ratio of 9.27 and a current ratio of 9.27. The firm has a fifty day moving average of $16.82 and a two-hundred day moving average of $18.23.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last issued its earnings results on Wednesday, February 25th. The company reported ($0.92) earnings per share for the quarter, meeting the consensus estimate of ($0.92). During the same quarter in the previous year, the company posted ($0.72) earnings per share. On average, analysts forecast that MoonLake Immunotherapeutics will post -1.79 earnings per share for the current year.

Institutional Investors Weigh In On MoonLake Immunotherapeutics

Institutional investors have recently modified their holdings of the company. Cormorant Asset Management LP grew its holdings in shares of MoonLake Immunotherapeutics by 118.4% in the 4th quarter. Cormorant Asset Management LP now owns 4,355,433 shares of the company’s stock worth $57,405,000 after acquiring an additional 2,361,260 shares during the period. Janus Henderson Group PLC raised its holdings in MoonLake Immunotherapeutics by 18,782.8% during the fourth quarter. Janus Henderson Group PLC now owns 2,095,988 shares of the company’s stock worth $27,657,000 after purchasing an additional 2,084,888 shares during the last quarter. Logos Global Management LP purchased a new stake in MoonLake Immunotherapeutics during the fourth quarter worth $23,065,000. Alliancebernstein L.P. boosted its position in MoonLake Immunotherapeutics by 17.8% during the second quarter. Alliancebernstein L.P. now owns 1,138,022 shares of the company’s stock worth $53,715,000 after purchasing an additional 171,932 shares in the last quarter. Finally, Vivo Capital LLC acquired a new stake in MoonLake Immunotherapeutics in the fourth quarter valued at $13,180,000. Hedge funds and other 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.