MoonLake Immunotherapeutics (NASDAQ:MLTX) Upgraded to Buy at The Goldman Sachs Group

MoonLake Immunotherapeutics (NASDAQ:MLTX) was upgraded by equities researchers at The Goldman Sachs Group from a “neutral” rating to a “buy” rating in a report released on Friday, MarketBeat.com reports. The brokerage presently has a $82.00 target price on the stock, up from their previous target price of $62.00. The Goldman Sachs Group’s price target would indicate a potential upside of 87.17% from the company’s current price.

Several other equities analysts also recently issued reports on the stock. HC Wainwright reissued a “buy” rating and set a $100.00 price target on shares of MoonLake Immunotherapeutics in a report on Friday, January 10th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of MoonLake Immunotherapeutics in a report on Monday, September 23rd. Finally, Wedbush reissued an “outperform” rating and issued a $73.00 price objective (down from $92.00) on shares of MoonLake Immunotherapeutics in a report on Tuesday, November 5th. One equities research 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 company. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $84.29.

MoonLake Immunotherapeutics Stock Performance

MoonLake Immunotherapeutics stock opened at $43.81 on Friday. MoonLake Immunotherapeutics has a 1 year low of $37.55 and a 1 year high of $64.98. The firm’s 50-day moving average is $51.63 and its 200-day moving average is $49.01. The company has a market cap of $2.80 billion, a P/E ratio of -33.96 and a beta of 1.31.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last issued its earnings results on Thursday, November 7th. The company reported ($0.56) EPS for the quarter, missing analysts’ consensus estimates of ($0.44) by ($0.12). During the same quarter in the prior year, the business posted ($0.18) earnings per share. As a group, sell-side analysts predict that MoonLake Immunotherapeutics will post -1.75 earnings per share for the current year.

Institutional Trading of MoonLake Immunotherapeutics

Institutional investors have recently modified their holdings of the company. US Bancorp DE bought a new stake in MoonLake Immunotherapeutics in the third quarter worth about $44,000. Quarry LP grew its stake 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 purchasing an additional 1,900 shares during the last quarter. Barclays PLC lifted its stake in MoonLake Immunotherapeutics by 1,269.2% during the third quarter. Barclays PLC now owns 5,641 shares of the company’s stock valued at $283,000 after purchasing an additional 5,229 shares during the last quarter. Handelsbanken Fonder AB boosted its holdings in MoonLake Immunotherapeutics by 26.2% during the third quarter. Handelsbanken Fonder AB now owns 13,000 shares of the company’s stock worth $655,000 after buying an additional 2,700 shares in the last quarter. Finally, AlphaCentric Advisors LLC acquired a new position in MoonLake Immunotherapeutics in the third quarter worth approximately $706,000. Institutional investors and hedge funds 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.