MoonLake Immunotherapeutics (NASDAQ:MLTX) Posts Quarterly Earnings Results

MoonLake Immunotherapeutics (NASDAQ:MLTX) issued its earnings results on Wednesday. The company reported ($0.72) EPS for the quarter, missing the consensus estimate of ($0.63) by ($0.09), Zacks reports.

MoonLake Immunotherapeutics Stock Performance

MLTX stock traded down $0.39 during midday trading on Thursday, reaching $41.98. 35,883 shares of the company traded hands, compared to its average volume of 428,190. The firm has a market capitalization of $2.68 billion, a price-to-earnings ratio of -32.72 and a beta of 1.28. MoonLake Immunotherapeutics has a 52-week low of $37.55 and a 52-week high of $58.26. The business has a 50 day moving average of $46.90 and a 200-day moving average of $48.99.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. HC Wainwright reissued a “buy” rating and issued a $100.00 price target on shares of MoonLake Immunotherapeutics in a report on Thursday. Needham & Company LLC lifted their target price on shares of MoonLake Immunotherapeutics from $62.00 to $66.00 and gave the company a “buy” rating in a report on Thursday. The Goldman Sachs Group upgraded shares of MoonLake Immunotherapeutics from a “neutral” rating to a “buy” rating and increased their price target for the company from $62.00 to $82.00 in a report on Friday, January 17th. Finally, Wedbush restated an “outperform” rating and set a $73.00 target price (down previously from $92.00) on shares of MoonLake Immunotherapeutics in a research note on Tuesday, November 5th. One equities research analyst has rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $85.00.

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.