MoonLake Immunotherapeutics

NasdaqCM:MLTX Stock Report

Market Cap: US$455.3m

MoonLake Immunotherapeutics Valuation

Is MLTX undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

2/6

Valuation Score 2/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Book vs Peers

  • Price-To-Book vs Industry

  • Price-To-Book vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of MLTX when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: Insufficient data to calculate MLTX's fair value for valuation analysis.

Significantly Below Fair Value: Insufficient data to calculate MLTX's fair value for valuation analysis.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for MLTX?

Key metric: As MLTX is unprofitable and pre-revenue we use its Price-To-Book Ratio for relative valuation analysis.

The above table shows the Price to Book ratio for MLTX. This is calculated by dividing MLTX's market cap by their current book value.
What is MLTX's PB Ratio?
PB Ratio1.3x
BookUS$353.73m
Market CapUS$455.31m

Price to Book Ratio vs Peers

How does MLTX's PB Ratio compare to its peers?

The above table shows the PB ratio for MLTX vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PBEstimated GrowthMarket Cap
Peer Average7.7x
KYMR Kymera Therapeutics
4x-10.30%US$4.0b
AKRO Akero Therapeutics
3.6x16.39%US$3.8b
ADMA ADMA Biologics
9x23.25%US$3.5b
SRRK Scholar Rock Holding
14.3x43.03%US$3.6b
MLTX MoonLake Immunotherapeutics
1.3x28.34%US$455.3m

Price-To-Book vs Peers: MLTX is good value based on its Price-To-Book Ratio (1.3x) compared to the peer average (7.7x).

Price to Book Ratio vs Industry

How does MLTX's PB Ratio compare vs other companies in the US Biotechs Industry?

57 CompaniesPrice / BookEstimated GrowthMarket Cap
NKTX Nkarta
0.4x1.69%US$147.02m
ZNTL Zentalis Pharmaceuticals
0.4x13.87%US$108.92m
MGX Metagenomi
0.5x-16.66%US$88.95m
XBIT XBiotech
0.5xn/aUS$81.10m
MLTX 1.3xIndustry Avg. 2.4xNo. of Companies81PB0246810+
57 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Book vs Industry: MLTX is good value based on its Price-To-Book Ratio (1.3x) compared to the US Biotechs industry average (2.4x).

Price to Book Ratio vs Fair Ratio

What is MLTX's PB Ratio compared to its Fair PB Ratio? This is the expected PB Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

MLTX PB Ratio vs Fair Ratio.
Fair Ratio
Current PB Ratio1.3x
Fair PB Ration/a

Price-To-Book vs Fair Ratio: Insufficient data to calculate MLTX's Price-To-Book Fair Ratio for valuation analysis.

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst MLTX forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentUS$7.06
US$34.00
+381.59%
103.66%US$104.00US$2.00n/a14
Sep ’26US$55.75
US$77.86
+39.65%
15.10%US$104.00US$64.00n/a14
Aug ’26US$52.92
US$77.36
+46.18%
15.06%US$104.00US$65.00n/a14
Jul ’26US$46.61
US$78.31
+68.01%
14.76%US$104.00US$65.00n/a13
Jun ’26US$39.01
US$78.31
+100.74%
14.76%US$104.00US$65.00n/a13
May ’26US$41.44
US$78.08
+88.41%
14.83%US$104.00US$65.00n/a13
Apr ’26US$36.35
US$77.77
+113.95%
14.71%US$104.00US$65.00n/a13
Mar ’26US$41.76
US$78.67
+88.38%
14.57%US$104.00US$65.00n/a12
Feb ’26US$45.99
US$78.00
+69.60%
15.66%US$104.00US$62.00n/a12
Jan ’26US$54.15
US$73.92
+36.52%
18.31%US$104.00US$55.00n/a13
Dec ’25US$54.43
US$73.92
+35.81%
18.31%US$104.00US$55.00n/a13
Nov ’25US$46.76
US$75.38
+61.22%
19.05%US$104.00US$55.00n/a13
Oct ’25US$51.72
US$74.00
+43.08%
19.04%US$104.00US$55.00US$7.0612
Sep ’25US$46.79
US$74.00
+58.15%
19.04%US$104.00US$55.00US$55.7512
Aug ’25US$42.05
US$74.23
+76.53%
17.93%US$104.00US$55.00US$52.9213
Jul ’25US$41.80
US$75.50
+80.62%
18.03%US$104.00US$55.00US$46.6114
Jun ’25US$40.66
US$73.31
+80.29%
15.69%US$100.00US$55.00US$39.0113
May ’25US$42.84
US$73.38
+71.30%
15.61%US$100.00US$55.00US$41.4413
Apr ’25US$48.60
US$74.33
+52.95%
15.36%US$100.00US$55.00US$36.3512
Mar ’25US$50.92
US$72.58
+42.54%
11.76%US$92.00US$55.00US$41.7612
Feb ’25US$57.02
US$69.00
+21.01%
17.54%US$92.00US$40.00US$45.9912
Jan ’25US$60.39
US$69.00
+14.26%
17.54%US$92.00US$40.00US$54.1512
Dec ’24US$46.10
US$69.50
+50.76%
17.75%US$92.00US$40.00US$54.4312
Nov ’24US$48.56
US$73.00
+50.33%
9.89%US$86.00US$59.00US$46.7612
Oct ’24US$57.00
US$70.45
+23.60%
10.40%US$86.00US$59.00US$51.7211
US$34
Fair Value
79.2% undervalued intrinsic discount
14
Number of Analysts

Analyst Forecast: Target price is more than 20% higher than the current share price, but analysts are not within a statistically confident range of agreement.

Discover undervalued companies

7D

1Y

7D

1Y

7D

1Y

Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2025/10/01 12:45
End of Day Share Price 2025/10/01 00:00
Earnings2025/06/30
Annual Earnings2024/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

MoonLake Immunotherapeutics is covered by 19 analysts. 15 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Julian HarrisonBTIG
Prakhar AgrawalCantor Fitzgerald & Co.
Samantha Lynn SemenkowCitigroup Inc