MoonLake Immunotherapeutics (NASDAQ:MLTX) Announces Quarterly Earnings Results

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

MoonLake Immunotherapeutics Stock Down 1.3 %

Shares of MoonLake Immunotherapeutics stock traded down $0.53 during trading on Friday, hitting $41.24. The stock had a trading volume of 100,643 shares, compared to its average volume of 434,449. The company has a market capitalization of $2.64 billion, a PE ratio of -31.90 and a beta of 1.28. MoonLake Immunotherapeutics has a 1 year low of $37.55 and a 1 year high of $58.26. The stock has a 50 day simple moving average of $46.70 and a 200 day simple moving average of $48.94.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Needham & Company LLC lifted their price objective on shares of MoonLake Immunotherapeutics from $62.00 to $66.00 and gave the stock a “buy” rating in a report on Thursday. Wedbush reissued an “outperform” rating and set a $73.00 price target (down from $92.00) on shares of MoonLake Immunotherapeutics in a report on Tuesday, November 5th. The Goldman Sachs Group cut their price objective on MoonLake Immunotherapeutics from $82.00 to $73.00 and set a “buy” rating for the company in a report on Thursday. 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 research analyst has rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target 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.