MoonLake Immunotherapeutics (NASDAQ:MLTX) Now Covered by Oppenheimer

Oppenheimer initiated coverage on shares of MoonLake Immunotherapeutics (NASDAQ:MLTX) in a research report released on Tuesday morning, MarketBeat.com reports. The firm issued an outperform rating and a $104.00 target price on the stock.

Other research analysts also recently issued reports about the stock. The Goldman Sachs Group assumed coverage on shares of MoonLake Immunotherapeutics in a research report on Tuesday, April 2nd. They issued a neutral rating and a $62.00 target price on the stock. William Blair reissued an outperform rating and set a $92.00 price objective on shares of MoonLake Immunotherapeutics in a research report on Monday, February 26th. Wedbush reaffirmed an outperform rating and issued a $92.00 target price on shares of MoonLake Immunotherapeutics in a report on Wednesday, March 13th. Needham & Company LLC reiterated a buy rating and issued a $66.00 price objective on shares of MoonLake Immunotherapeutics in a research note on Monday, June 10th. Finally, HC Wainwright reiterated a buy rating and issued a $100.00 price objective on shares of MoonLake Immunotherapeutics in a research note on Tuesday, June 11th. Three investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of Moderate Buy and an average target price of $79.00.

MoonLake Immunotherapeutics Stock Up 3.7 %

MoonLake Immunotherapeutics stock opened at $41.69 on Tuesday. The firm has a market cap of $2.66 billion, a PE ratio of -55.59 and a beta of 1.25. MoonLake Immunotherapeutics has a 52-week low of $35.11 and a 52-week high of $64.98. The company’s 50 day moving average is $41.36 and its two-hundred day moving average is $49.51.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last announced its quarterly earnings data on Sunday, May 12th. The company reported ($0.22) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.03). On average, equities research analysts anticipate that MoonLake Immunotherapeutics will post -1.23 earnings per share for the current fiscal year.

Institutional Investors Weigh In On MoonLake Immunotherapeutics

Hedge funds and other institutional investors have recently modified their holdings of the company. Quarry LP purchased a new stake in shares of MoonLake Immunotherapeutics during the fourth quarter worth about $51,000. Barclays PLC purchased a new stake in MoonLake Immunotherapeutics in the third quarter valued at approximately $189,000. Stratos Wealth Partners LTD. purchased a new stake in MoonLake Immunotherapeutics in the fourth quarter valued at approximately $202,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in MoonLake Immunotherapeutics in the fourth quarter valued at approximately $217,000. Finally, Bellevue Group AG purchased a new stake in MoonLake Immunotherapeutics in the first quarter valued at approximately $221,000. 93.85% of the stock is currently owned by hedge funds and other institutional investors.

MoonLake Immunotherapeutics Company Profile

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.