Wedbush Reiterates Outperform Rating for MoonLake Immunotherapeutics (NASDAQ:MLTX)

Wedbush reaffirmed their outperform rating on shares of MoonLake Immunotherapeutics (NASDAQ:MLTX) in a report released on Tuesday morning, MarketBeat.com reports. Wedbush currently has a $73.00 target price on the stock, down from their previous target price of $92.00. Wedbush also issued estimates for MoonLake Immunotherapeutics’ Q3 2024 earnings at ($0.35) EPS, Q4 2024 earnings at ($0.38) EPS, FY2024 earnings at ($1.33) EPS, Q1 2025 earnings at ($0.42) EPS, Q2 2025 earnings at ($0.46) EPS, Q3 2025 earnings at ($0.48) EPS, Q4 2025 earnings at ($0.50) EPS, FY2025 earnings at ($1.86) EPS, FY2026 earnings at ($1.82) EPS, FY2027 earnings at ($1.59) EPS and FY2028 earnings at $0.38 EPS.

A number of other research analysts have also recently commented on the company. Needham & Company LLC reissued a “buy” rating and issued a $62.00 price target on shares of MoonLake Immunotherapeutics in a report on Thursday, September 12th. HC Wainwright reaffirmed a “buy” rating and set a $100.00 target price on shares of MoonLake Immunotherapeutics in a research note on Tuesday, October 15th. Cantor Fitzgerald restated an “overweight” rating on shares of MoonLake Immunotherapeutics in a research report on Monday, September 23rd. Finally, Wolfe Research cut MoonLake Immunotherapeutics from an “outperform” rating to a “peer perform” rating in a report on Monday, August 26th. Two equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $78.80.

MoonLake Immunotherapeutics Trading Up 2.2 %

MLTX opened at $51.78 on Tuesday. The company has a 50 day simple moving average of $49.35 and a two-hundred day simple moving average of $45.40. MoonLake Immunotherapeutics has a 1-year low of $35.53 and a 1-year high of $64.98.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last issued its earnings results on Thursday, November 7th. The company reported ($0.56) earnings per share for the quarter, missing the consensus estimate of ($0.44) by ($0.12). During the same period in the prior year, the company earned ($0.18) EPS. On average, equities research analysts expect that MoonLake Immunotherapeutics will post -1.52 EPS for the current year.

Insider Activity at MoonLake Immunotherapeutics

In other MoonLake Immunotherapeutics news, Director Simon Sturge sold 171,000 shares of the business’s stock in a transaction that occurred on Friday, October 4th. The stock was sold at an average price of $53.72, for a total transaction of $9,186,120.00. Following the completion of the transaction, the director now owns 171,980 shares in the company, valued at $9,238,765.60. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 12.02% of the stock is currently owned by insiders.

Institutional Trading of MoonLake Immunotherapeutics

Several institutional investors and hedge funds have recently modified their holdings of the stock. US Bancorp DE purchased a new position in MoonLake Immunotherapeutics during the 3rd quarter valued at about $44,000. Quarry LP lifted its stake in shares of MoonLake Immunotherapeutics by 172.7% during the second 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 period. Bellevue Group AG acquired a new position in shares of MoonLake Immunotherapeutics in the first quarter valued at about $221,000. DNB Asset Management AS raised its position in MoonLake Immunotherapeutics by 29.8% during the 2nd quarter. DNB Asset Management AS now owns 7,372 shares of the company’s stock worth $324,000 after buying an additional 1,694 shares during the last quarter. Finally, Handelsbanken Fonder AB lifted its position in MoonLake Immunotherapeutics by 26.2% during the third quarter. Handelsbanken Fonder AB now owns 13,000 shares of the company’s stock valued at $655,000 after purchasing an additional 2,700 shares during the period. 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.