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

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

MoonLake Immunotherapeutics Price Performance

Shares of MLTX stock traded up $1.45 during trading hours on Wednesday, hitting $42.18. The stock had a trading volume of 375,650 shares, compared to its average volume of 433,010. The stock has a market capitalization of $2.70 billion, a price-to-earnings ratio of -32.67 and a beta of 1.28. MoonLake Immunotherapeutics has a one year low of $37.55 and a one year high of $58.26. The stock’s 50-day moving average price is $47.10 and its two-hundred day moving average price is $49.03.

Wall Street Analysts Forecast Growth

Several research firms recently commented on MLTX. Wedbush reissued an “outperform” rating and set a $73.00 price objective (down previously from $92.00) on shares of MoonLake Immunotherapeutics in a research note on Tuesday, November 5th. The Goldman Sachs Group upgraded MoonLake Immunotherapeutics from a “neutral” rating to a “buy” rating and raised their price target for the company from $62.00 to $82.00 in a report on Friday, January 17th. Finally, HC Wainwright reiterated a “buy” rating and issued a $100.00 price target on shares of MoonLake Immunotherapeutics in a research note on Friday, January 10th. One analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, MoonLake Immunotherapeutics currently has an average rating of “Buy” and an average target price of $85.50.

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.