MoonLake Immunotherapeutics (NASDAQ:MLTX) Issues Quarterly Earnings Results, Misses Estimates By $0.09 EPS

MoonLake Immunotherapeutics (NASDAQ:MLTX) posted its quarterly earnings data on Wednesday. The company reported ($0.72) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.63) by ($0.09), Zacks reports.

MoonLake Immunotherapeutics Trading Down 0.9 %

Shares of MoonLake Immunotherapeutics stock traded down $0.39 during trading on Thursday, hitting $41.98. 35,883 shares of the stock traded hands, compared to its average volume of 428,190. MoonLake Immunotherapeutics has a 52-week low of $37.55 and a 52-week high of $58.26. The stock’s fifty day simple moving average is $46.90 and its 200 day simple moving average is $48.99. The firm has a market cap of $2.68 billion, a P/E ratio of -32.72 and a beta of 1.28.

Analyst Upgrades and Downgrades

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

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.