MoonLake Immunotherapeutics (NASDAQ:MLTX) Upgraded by Rothschild & Co Redburn to Buy Rating

MoonLake Immunotherapeutics (NASDAQ:MLTX) was upgraded by equities researchers at Rothschild & Co Redburn from a “neutral” rating to a “buy” rating in a research report issued on Thursday,Finviz reports. The firm currently has a $40.00 price target on the stock. Rothschild & Co Redburn’s price target indicates a potential upside of 146.46% from the company’s previous close.

Several other equities research analysts also recently commented on MLTX. Oppenheimer boosted their target price on shares of MoonLake Immunotherapeutics from $30.00 to $35.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 24th. BTIG Research raised their price target on shares of MoonLake Immunotherapeutics from $24.00 to $30.00 and gave the company a “buy” rating in a research report on Monday, February 23rd. HC Wainwright lifted their price target on MoonLake Immunotherapeutics from $32.00 to $40.00 and gave the company a “buy” rating in a research note on Monday, March 2nd. Needham & Company LLC boosted their price objective on MoonLake Immunotherapeutics from $20.00 to $25.00 and gave the stock a “buy” rating in a report on Monday, February 23rd. Finally, Royal Bank Of Canada raised their target price on MoonLake Immunotherapeutics from $12.00 to $13.00 and gave the company a “sector perform” rating in a report on Monday, March 2nd. Eight analysts have rated the stock with a Buy rating, four have issued a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $25.92.

MoonLake Immunotherapeutics Price Performance

Shares of MLTX opened at $16.23 on Thursday. MoonLake Immunotherapeutics has a 12-month low of $5.95 and a 12-month high of $62.75. The business’s fifty day moving average is $16.84 and its 200 day moving average is $19.68. 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 $1.16 billion, a P/E ratio of -4.61 and a beta of 1.20.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last announced its quarterly earnings results on Wednesday, February 25th. The company reported ($0.92) EPS for the quarter, meeting analysts’ consensus estimates of ($0.92). During the same quarter in the prior year, the business posted ($0.72) EPS. Sell-side analysts anticipate that MoonLake Immunotherapeutics will post -1.79 earnings per share for the current fiscal year.

Institutional Investors Weigh In On MoonLake Immunotherapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in MLTX. Kestra Advisory Services LLC bought a new position in shares of MoonLake Immunotherapeutics during the 4th quarter worth approximately $26,000. FNY Investment Advisers LLC purchased a new stake in shares of MoonLake Immunotherapeutics during the third quarter valued at approximately $28,000. Bank of America Corp DE increased its position in shares of MoonLake Immunotherapeutics by 64.7% during the third quarter. Bank of America Corp DE now owns 4,532 shares of the company’s stock valued at $32,000 after acquiring an additional 1,781 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in MoonLake Immunotherapeutics by 115.0% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,919 shares of the company’s stock worth $42,000 after acquiring an additional 3,166 shares during the period. Finally, Russell Investments Group Ltd. lifted its holdings in MoonLake Immunotherapeutics by 45.4% during the fourth quarter. Russell Investments Group Ltd. now owns 3,426 shares of the company’s stock worth $45,000 after acquiring an additional 1,069 shares during the period. 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.