MoonLake Immunotherapeutics (NASDAQ:MLTX) Releases Earnings Results, Beats Expectations By $0.13 EPS

MoonLake Immunotherapeutics (NASDAQ:MLTX - Get Free Report) released its quarterly earnings data on Monday. The company reported ($0.63) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.76) by $0.13, Zacks reports.

MoonLake Immunotherapeutics Stock Up 4.4%

Shares of NASDAQ MLTX traded up $1.71 during trading hours on Monday, hitting $40.18. The company had a trading volume of 345,524 shares, compared to its average volume of 355,501. The firm's 50 day moving average is $38.43 and its 200-day moving average is $45.02. MoonLake Immunotherapeutics has a 1-year low of $31.42 and a 1-year high of $58.26. The stock has a market capitalization of $2.57 billion, a P/E ratio of -31.15 and a beta of 1.31.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. 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. Needham & Company LLC reissued a "buy" rating and issued a $66.00 price objective on shares of MoonLake Immunotherapeutics in a research note on Wednesday, April 30th. 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, The Goldman Sachs Group reduced 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. One research 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 company. Based on data from MarketBeat.com, MoonLake Immunotherapeutics currently has a consensus rating of "Buy" and an average price target of $80.50.

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.

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