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

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

MoonLake Immunotherapeutics Stock Performance

Shares of NASDAQ MLTX traded down $0.53 during trading on Friday, reaching $41.24. The company had a trading volume of 100,643 shares, compared to its average volume of 434,449. The stock has a market cap of $2.64 billion, a PE ratio of -31.90 and a beta of 1.28. The business’s 50 day moving average price is $46.70 and its 200-day moving average price is $48.94. MoonLake Immunotherapeutics has a 52 week low of $37.55 and a 52 week high of $58.26.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on MLTX. Needham & Company LLC boosted their price target on MoonLake Immunotherapeutics from $62.00 to $66.00 and gave the company a “buy” rating in a research note on Thursday. The Goldman Sachs Group reduced their target price on shares of MoonLake Immunotherapeutics from $82.00 to $73.00 and set a “buy” rating for the company in a research note on Thursday. Wedbush restated an “outperform” rating and set a $73.00 price target (down previously from $92.00) on shares of MoonLake Immunotherapeutics in a research note on Tuesday, November 5th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $100.00 price objective on shares of MoonLake Immunotherapeutics in a research note on Thursday. One analyst has rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, MoonLake Immunotherapeutics currently has a consensus rating of “Buy” and a consensus target price of $83.20.

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.