Wolfe Research Upgrades MoonLake Immunotherapeutics (NASDAQ:MLTX) to “Outperform”

MoonLake Immunotherapeutics (NASDAQ:MLTX) was upgraded by Wolfe Research from an “underperform” rating to an “outperform” rating in a research note issued on Monday, MarketBeat reports. The firm presently has a $24.00 target price on the stock. Wolfe Research’s target price points to a potential upside of 47.51% from the stock’s current price.

MLTX has been the topic of a number of other reports. HC Wainwright boosted their target price on shares of MoonLake Immunotherapeutics from $32.00 to $40.00 and gave the stock a “buy” rating in a report on Monday, March 2nd. The Goldman Sachs Group lowered shares of MoonLake Immunotherapeutics from a “neutral” rating to a “sell” rating and lifted their price target for the stock from $8.00 to $10.00 in a report on Wednesday, January 14th. Royal Bank Of Canada boosted their price objective on shares of MoonLake Immunotherapeutics from $12.00 to $13.00 and gave the stock a “sector perform” rating in a research note on Monday, March 2nd. UBS Group set a $24.00 price objective on MoonLake Immunotherapeutics in a report on Friday, January 9th. Finally, Oppenheimer raised their target price on MoonLake Immunotherapeutics from $30.00 to $35.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 24th. Nine equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $23.08.

MoonLake Immunotherapeutics Price Performance

Shares of MLTX opened at $16.27 on Monday. The company has a quick ratio of 9.27, a current ratio of 9.27 and a debt-to-equity ratio of 0.24. The stock has a market cap of $1.17 billion, a PE ratio of -4.62 and a beta of 1.20. MoonLake Immunotherapeutics has a 12-month low of $5.95 and a 12-month high of $62.75. The business has a 50-day simple moving average of $16.84 and a two-hundred day simple moving average of $18.83.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last released its quarterly earnings results on Wednesday, February 25th. The company reported ($0.92) earnings per share for the quarter, hitting the consensus estimate of ($0.92). During the same period in the prior year, the firm earned ($0.72) EPS. Analysts anticipate that MoonLake Immunotherapeutics will post -1.79 earnings per share for the current fiscal year.

Institutional Investors Weigh In On MoonLake Immunotherapeutics

Large investors have recently modified their holdings of the company. Millennium Management LLC lifted its holdings in MoonLake Immunotherapeutics by 3,343.2% in the first quarter. Millennium Management LLC now owns 344,320 shares of the company’s stock valued at $13,453,000 after buying an additional 334,320 shares during the period. Geode Capital Management LLC grew its holdings in MoonLake Immunotherapeutics by 0.9% during the 2nd quarter. Geode Capital Management LLC now owns 59,553 shares of the company’s stock worth $2,809,000 after acquiring an additional 559 shares during the period. JPMorgan Chase & Co. raised its position in shares of MoonLake Immunotherapeutics by 4,584.5% in the 2nd quarter. JPMorgan Chase & Co. now owns 39,397 shares of the company’s stock worth $1,860,000 after acquiring an additional 38,556 shares in the last quarter. Legal & General Group Plc raised its position in shares of MoonLake Immunotherapeutics by 7.3% in the 2nd quarter. Legal & General Group Plc now owns 20,905 shares of the company’s stock worth $987,000 after acquiring an additional 1,425 shares in the last quarter. Finally, Elevation Point Wealth Partners LLC acquired a new position in shares of MoonLake Immunotherapeutics in the 2nd quarter valued at about $74,000. 93.85% of the stock is currently owned by institutional investors and hedge funds.

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.