MoonLake Immunotherapeutics (NASDAQ:MLTX) Stock Has Average Target Price of $28.50

MoonLake Immunotherapeutics (NASDAQ:MLTX) has earned a consensus rating of “Hold” from the fourteen analysts that are presently covering the company, MarketBeat.com reports. Three equities research analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation and nine have issued a buy recommendation on the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $28.50.

A number of research firms recently issued reports on MLTX. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of MoonLake Immunotherapeutics in a report on Wednesday, September 16th. Leerink Partners raised their target price on MoonLake Immunotherapeutics from $24.00 to $29.00 and gave the company an “outperform” rating in a report on Wednesday, July 1st. HC Wainwright restated a “buy” rating and set a $50.00 target price on shares of MoonLake Immunotherapeutics in a research note on Monday, October 5th. Weiss Ratings raised MoonLake Immunotherapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, August 21st. Finally, Wall Street Zen cut MoonLake Immunotherapeutics from a “sell” rating to a “strong sell” rating in a research report on Sunday, September 27th.

MoonLake Immunotherapeutics Stock Performance

Shares of NASDAQ MLTX opened at $11.81 on Friday. The company has a debt-to-equity ratio of 0.23, a current ratio of 12.56 and a quick ratio of 12.56. The stock’s 50 day simple moving average is $12.86 and its 200 day simple moving average is $16.53. MoonLake Immunotherapeutics has a 12-month low of $9.37 and a 12-month high of $23.29.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last posted its earnings results on Monday, August 10th. The company reported ($0.84) EPS for the quarter, topping the consensus estimate of ($0.91) by $0.07. Research analysts expect that MoonLake Immunotherapeutics will post -3.34 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Allworth Financial LP grew its holdings in MoonLake Immunotherapeutics by 156.2% during the second quarter. Allworth Financial LP now owns 1,714 shares of the company’s stock valued at $33,000 after purchasing an additional 1,045 shares during the period. Integrated Wealth Concepts LLC bought a new stake in MoonLake Immunotherapeutics during the second quarter worth about $39,000. EverSource Wealth Advisors LLC grew its stake in shares of MoonLake Immunotherapeutics by 221.1% in the first quarter. EverSource Wealth Advisors LLC now owns 2,867 shares of the company’s stock valued at $53,000 after buying an additional 1,974 shares in the last quarter. FNY Investment Advisers LLC bought a new position in shares of MoonLake Immunotherapeutics in the 2nd quarter valued at about $58,000. Finally, Arizona State Retirement System bought a new stake in MoonLake Immunotherapeutics in the second quarter valued at approximately $233,000. 93.85% of the stock is currently owned by institutional investors.

MoonLake Immunotherapeutics Company Profile

MoonLake Immunotherapeutics is a clinical-stage biopharmaceutical company focused on developing therapies for inflammatory and immunological diseases. The company is advancing medicines designed to address conditions in which the immune system contributes to chronic inflammation and tissue damage.

Its lead product candidate is sonelokimab, an investigational Nanobody-based therapy designed to selectively inhibit interleukin-17A and interleukin-17F, two cytokines involved in inflammatory disease.