MoonLake Immunotherapeutics (NASDAQ:MLTX) Given New $66.00 Price Target at Needham & Company LLC

MoonLake Immunotherapeutics (NASDAQ:MLTX) had its price target hoisted by Needham & Company LLC from $62.00 to $66.00 in a research note published on Thursday,Benzinga reports. Needham & Company LLC currently has a buy rating on the stock.

A number of other brokerages have also issued reports on MLTX. HC Wainwright reissued a “buy” rating and set a $100.00 price target on shares of MoonLake Immunotherapeutics in a research note on Thursday. Wedbush reissued an “outperform” rating and issued a $73.00 price objective (down previously from $92.00) on shares of MoonLake Immunotherapeutics in a research report on Tuesday, November 5th. Finally, The Goldman Sachs Group raised MoonLake Immunotherapeutics from a “neutral” rating to a “buy” rating and upped their target price for the company from $62.00 to $82.00 in a research report on Friday, January 17th. One investment analyst has rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $83.20.

MoonLake Immunotherapeutics Trading Down 1.4 %

MLTX opened at $41.77 on Thursday. MoonLake Immunotherapeutics has a 1-year low of $37.55 and a 1-year high of $58.26. The firm’s 50 day simple moving average is $46.90 and its two-hundred day simple moving average is $48.99. The company has a market capitalization of $2.67 billion, a PE ratio of -32.38 and a beta of 1.28.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last posted its quarterly earnings results on Wednesday, February 26th. The company reported ($0.72) earnings per share for the quarter, missing the consensus estimate of ($0.63) by ($0.09). Equities analysts forecast that MoonLake Immunotherapeutics will post -1.79 earnings per share for the current fiscal year.

Hedge Funds Weigh In On MoonLake Immunotherapeutics

A number of large investors have recently modified their holdings of MLTX. Congress Asset Management Co. acquired a new stake in shares of MoonLake Immunotherapeutics during the 3rd quarter worth about $3,360,000. US Bancorp DE bought a new position in MoonLake Immunotherapeutics during the 3rd quarter worth approximately $44,000. Rice Hall James & Associates LLC acquired a new stake in MoonLake Immunotherapeutics during the third quarter worth about $3,805,000. Harbor Capital Advisors Inc. boosted its holdings in shares of MoonLake Immunotherapeutics by 100.2% during the third quarter. Harbor Capital Advisors Inc. now owns 77,468 shares of the company’s stock valued at $3,906,000 after acquiring an additional 38,779 shares during the period. Finally, AlphaCentric Advisors LLC acquired a new stake in MoonLake Immunotherapeutics in the 3rd quarter valued at approximately $706,000. 93.85% of the stock is owned by hedge funds and other institutional investors.

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.