Wedbush Has Positive Outlook of MLTX FY2029 Earnings

MoonLake Immunotherapeutics (NASDAQ:MLTX) – Wedbush upped their FY2029 earnings per share (EPS) estimates for shares of MoonLake Immunotherapeutics in a report issued on Tuesday, May 13th. Wedbush analyst Y. Zhong now forecasts that the company will post earnings of $4.18 per share for the year, up from their prior estimate of $3.85. Wedbush currently has a “Outperform” rating and a $80.00 price objective on the stock. The consensus estimate for MoonLake Immunotherapeutics’ current full-year earnings is ($1.79) per share.

A number of other brokerages also recently issued reports on MLTX. Royal Bank of Canada assumed coverage on MoonLake Immunotherapeutics in a research note on Tuesday, March 18th. They issued an “outperform” rating and a $67.00 price objective on the stock. The Goldman Sachs Group dropped their price objective on MoonLake Immunotherapeutics from $82.00 to $73.00 and set a “buy” rating on the stock in a research note on Thursday, February 27th. HC Wainwright reissued a “buy” rating and issued a $100.00 price objective on shares of MoonLake Immunotherapeutics in a research note on Thursday, February 27th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $66.00 price objective on shares of MoonLake Immunotherapeutics in a research note on Tuesday. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $81.67.

MoonLake Immunotherapeutics Price Performance

Shares of NASDAQ:MLTX opened at $37.66 on Thursday. The company has a market capitalization of $2.41 billion, a price-to-earnings ratio of -29.19 and a beta of 1.31. The business’s 50-day moving average is $38.41 and its 200-day moving average is $44.80. MoonLake Immunotherapeutics has a 1 year low of $31.42 and a 1 year high of $58.26.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last announced its quarterly earnings data on Monday, May 12th. The company reported ($0.63) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.76) by $0.13. During the same period last year, the company earned ($0.22) earnings per share.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Barclays PLC raised its stake in MoonLake Immunotherapeutics by 1,269.2% during the 3rd quarter. Barclays PLC now owns 5,641 shares of the company’s stock worth $283,000 after buying an additional 5,229 shares during the period. Congress Asset Management Co. raised its stake in MoonLake Immunotherapeutics by 9.5% during the 4th quarter. Congress Asset Management Co. now owns 72,993 shares of the company’s stock worth $3,953,000 after buying an additional 6,352 shares during the period. KLP Kapitalforvaltning AS acquired a new position in MoonLake Immunotherapeutics during the 4th quarter worth approximately $244,000. Rice Hall James & Associates LLC raised its stake in MoonLake Immunotherapeutics by 47.3% during the 4th quarter. Rice Hall James & Associates LLC now owns 111,133 shares of the company’s stock worth $6,018,000 after buying an additional 35,664 shares during the period. Finally, Teacher Retirement System of Texas raised its stake in MoonLake Immunotherapeutics by 18.4% during the 4th quarter. Teacher Retirement System of Texas now owns 6,532 shares of the company’s stock worth $354,000 after buying an additional 1,013 shares during the period. 93.85% of the stock is owned by institutional investors and hedge funds.

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.