MoonLake Immunotherapeutics (NASDAQ:MLTX) Announces Quarterly Earnings Results

MoonLake Immunotherapeutics (NASDAQ:MLTX) released its quarterly earnings data on Wednesday. The company reported ($0.93) earnings per share for the quarter, missing the consensus estimate of ($0.83) by ($0.10), FiscalAI reports.

MoonLake Immunotherapeutics Stock Up 6.2%

NASDAQ:MLTX traded up $0.67 during trading hours on Friday, reaching $11.47. The company’s stock had a trading volume of 665,980 shares, compared to its average volume of 1,531,162. MoonLake Immunotherapeutics has a one year low of $9.46 and a one year high of $23.29. The business’s 50-day moving average is $12.19 and its 200-day moving average is $16.35. The company has a debt-to-equity ratio of 0.23, a current ratio of 12.56 and a quick ratio of 12.56. The company has a market cap of $976.18 million, a price-to-earnings ratio of -3.11 and a beta of 1.14.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on MLTX. Cantor Fitzgerald reissued an “overweight” rating on shares of MoonLake Immunotherapeutics in a research report on Wednesday, September 16th. HC Wainwright reaffirmed a “buy” rating and issued a $50.00 target price on shares of MoonLake Immunotherapeutics in a research report on Monday, October 5th. Wall Street Zen lowered MoonLake Immunotherapeutics from a “sell” rating to a “strong sell” rating in a research report on Sunday, September 27th. Chardan Capital began coverage on MoonLake Immunotherapeutics in a research note on Friday. They set a “buy” rating and a $57.00 price target for the company. Finally, Weiss Ratings upgraded MoonLake Immunotherapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, August 21st. Ten equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $31.09.

About MoonLake Immunotherapeutics

MoonLake Immunotherapeutics is a clinical-stage biopharmaceutical company focused on developing therapies for inflammatory and immunological diseases. The company is advancing medicines designed to address conditions in which the immune system contributes to chronic inflammation and tissue damage.

Its lead product candidate is sonelokimab, an investigational Nanobody-based therapy designed to selectively inhibit interleukin-17A and interleukin-17F, two cytokines involved in inflammatory disease.