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

MoonLake Immunotherapeutics (NASDAQ:MLTX) posted its earnings results 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 Price Performance

MLTX stock traded up $1.05 during mid-day trading on Wednesday, reaching $41.78. 362,353 shares of the company traded hands, compared to its average volume of 432,611. MoonLake Immunotherapeutics has a 52-week low of $37.55 and a 52-week high of $58.26. The company has a market capitalization of $2.67 billion, a P/E ratio of -32.48 and a beta of 1.28. The company has a fifty day moving average price of $47.10 and a 200-day moving average price of $49.03.

Analyst Ratings Changes

A number of brokerages have weighed in on MLTX. HC Wainwright reissued a “buy” rating and set a $100.00 price target on shares of MoonLake Immunotherapeutics in a research report on Friday, January 10th. Wedbush restated an “outperform” rating and issued a $73.00 price target (down previously from $92.00) on shares of MoonLake Immunotherapeutics in a research note on Tuesday, November 5th. Finally, The Goldman Sachs Group upgraded MoonLake Immunotherapeutics from a “neutral” rating to a “buy” rating and boosted their price target for the company from $62.00 to $82.00 in a research note on Friday, January 17th. One analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock 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.