MoonLake Immunotherapeutics (NASDAQ:MLTX) Posts Earnings Results, Misses Estimates By $0.11 EPS

MoonLake Immunotherapeutics (NASDAQ:MLTX) announced its quarterly earnings results on Wednesday. The company reported ($0.39) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.11), Briefing.com reports. During the same quarter last year, the firm posted ($0.23) EPS.

MoonLake Immunotherapeutics Price Performance

MLTX stock traded down $1.80 on Friday, hitting $44.25. 308,310 shares of the company were exchanged, compared to its average volume of 408,914. The stock has a market capitalization of $2.83 billion, a price-to-earnings ratio of -59.00 and a beta of 1.25. MoonLake Immunotherapeutics has a twelve month low of $35.11 and a twelve month high of $64.98. The business’s fifty day moving average is $42.96 and its two-hundred day moving average is $46.51.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Needham & Company LLC reduced their price target on shares of MoonLake Immunotherapeutics from $66.00 to $62.00 and set a “buy” rating for the company in a research report on Thursday. HC Wainwright reiterated a “buy” rating and set a $100.00 target price on shares of MoonLake Immunotherapeutics in a research report on Monday, July 1st. Finally, Oppenheimer initiated coverage on shares of MoonLake Immunotherapeutics in a research note on Tuesday, June 25th. They set an “outperform” rating and a $104.00 price objective for the company. Three investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, MoonLake Immunotherapeutics has an average rating of “Moderate Buy” and an average target price of $78.67.

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.