MoonLake Immunotherapeutics (NASDAQ:MLTX) Releases Earnings Results, Misses Expectations By $0.09 EPS

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

MoonLake Immunotherapeutics Stock Performance

Shares of MLTX stock traded up $1.45 during mid-day trading on Wednesday, hitting $42.18. The company’s stock had a trading volume of 375,650 shares, compared to its average volume of 433,010. The company has a market cap of $2.70 billion, a PE ratio of -32.67 and a beta of 1.28. The company’s fifty day simple moving average is $47.10 and its 200-day simple moving average is $49.03. MoonLake Immunotherapeutics has a 52 week low of $37.55 and a 52 week high of $58.26.

Analysts Set New Price Targets

MLTX has been the topic of a number of research analyst reports. Wedbush reaffirmed an “outperform” rating and issued a $73.00 target price (down previously from $92.00) on shares of MoonLake Immunotherapeutics in a report on Tuesday, November 5th. The Goldman Sachs Group upgraded MoonLake Immunotherapeutics from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $62.00 to $82.00 in a research note on Friday, January 17th. Finally, HC Wainwright reissued a “buy” rating and set a $100.00 target price on shares of MoonLake Immunotherapeutics in a report on Friday, January 10th. One investment analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $85.50.

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.