MoonLake Immunotherapeutics (NASDAQ:MLTX - Get Free Report) was upgraded by equities research analysts at The Goldman Sachs Group from a "neutral" rating to a "buy" rating in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has a $82.00 price objective on the stock, up from their prior price objective of $62.00. The Goldman Sachs Group's target price points to a potential upside of 97.73% from the stock's previous close.
Several other research analysts also recently commented on MLTX. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of MoonLake Immunotherapeutics in a research note on Monday, September 23rd. Wedbush reaffirmed an "outperform" rating and set a $73.00 price target (down previously from $92.00) on shares of MoonLake Immunotherapeutics in a research note on Tuesday, November 5th. Finally, 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. One analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, MoonLake Immunotherapeutics currently has an average rating of "Buy" and an average price target of $84.29.
Read Our Latest Stock Analysis on MoonLake Immunotherapeutics
Shares of NASDAQ MLTX opened at $41.47 on Friday. MoonLake Immunotherapeutics has a 1 year low of $37.55 and a 1 year high of $64.98. The firm has a 50-day simple moving average of $51.79 and a two-hundred day simple moving average of $48.93. The company has a market cap of $2.65 billion, a P/E ratio of -32.15 and a beta of 1.31.
MoonLake Immunotherapeutics (NASDAQ:MLTX - Get Free Report) last issued its quarterly 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 previous year, the company earned ($0.18) earnings per share. As a group, equities research analysts expect that MoonLake Immunotherapeutics will post -1.75 EPS for the current year.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. US Bancorp DE purchased a new position in MoonLake Immunotherapeutics in the third quarter valued at about $44,000. Quarry LP grew its position in shares of MoonLake Immunotherapeutics by 172.7% in the 2nd quarter. Quarry LP now owns 3,000 shares of the company's stock worth $132,000 after buying an additional 1,900 shares during the last quarter. Barclays PLC grew its position in shares of 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 buying an additional 5,229 shares during the last quarter. Handelsbanken Fonder AB raised its stake in shares of MoonLake Immunotherapeutics by 26.2% during the 3rd quarter. Handelsbanken Fonder AB now owns 13,000 shares of the company's stock worth $655,000 after acquiring an additional 2,700 shares in the last quarter. Finally, AlphaCentric Advisors LLC purchased a new stake in MoonLake Immunotherapeutics during the third quarter valued at approximately $706,000. 93.85% of the stock is currently owned by hedge funds and other institutional investors.
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.
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