Analysts Issue Forecasts for MoonLake Immunotherapeutics’ Q3 2024 Earnings (NASDAQ:MLTX)

MoonLake Immunotherapeutics (NASDAQ:MLTX) – Investment analysts at Leerink Partnrs dropped their Q3 2024 earnings per share estimates for MoonLake Immunotherapeutics in a research report issued to clients and investors on Wednesday, August 7th. Leerink Partnrs analyst T. Smith now forecasts that the company will earn ($0.39) per share for the quarter, down from their prior forecast of ($0.26). The consensus estimate for MoonLake Immunotherapeutics’ current full-year earnings is ($1.21) per share. Leerink Partnrs also issued estimates for MoonLake Immunotherapeutics’ Q4 2024 earnings at ($0.42) EPS, FY2024 earnings at ($1.41) EPS, FY2025 earnings at ($2.36) EPS, FY2026 earnings at ($3.49) EPS, FY2027 earnings at ($4.83) EPS and FY2028 earnings at $1.23 EPS.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last released its quarterly earnings results on Wednesday, August 7th. The company reported ($0.39) earnings per share for the quarter, missing the consensus estimate of ($0.28) by ($0.11). During the same quarter in the prior year, the firm posted ($0.23) earnings per share.

A number of other research firms have also recently commented on MLTX. HC Wainwright reaffirmed a “buy” rating and set a $100.00 price target on shares of MoonLake Immunotherapeutics in a research note on Monday, July 1st. Oppenheimer initiated coverage on MoonLake Immunotherapeutics in a research note on Tuesday, June 25th. They set an “outperform” rating and a $104.00 target price on the stock. Finally, Needham & Company LLC dropped their price objective on MoonLake Immunotherapeutics from $66.00 to $62.00 and set a “buy” rating for the company in a report on Thursday, August 8th. Three investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $78.67.

MoonLake Immunotherapeutics Stock Up 0.0 %

MLTX stock opened at $45.32 on Monday. MoonLake Immunotherapeutics has a twelve month low of $35.11 and a twelve month high of $64.98. The stock has a market capitalization of $2.90 billion, a price-to-earnings ratio of -60.43 and a beta of 1.25. The firm’s fifty day simple moving average is $43.03 and its two-hundred day simple moving average is $46.29.

Institutional Investors Weigh In On MoonLake Immunotherapeutics

Several hedge funds have recently made changes to their positions in the company. Avoro Capital Advisors LLC lifted its stake in MoonLake Immunotherapeutics by 29.0% in the fourth quarter. Avoro Capital Advisors LLC now owns 2,580,000 shares of the company’s stock worth $155,806,000 after acquiring an additional 580,001 shares during the period. Price T Rowe Associates Inc. MD lifted its position in shares of MoonLake Immunotherapeutics by 9.3% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,314,012 shares of the company’s stock worth $139,744,000 after purchasing an additional 196,144 shares during the period. Federated Hermes Inc. boosted its stake in shares of MoonLake Immunotherapeutics by 2.6% during the second quarter. Federated Hermes Inc. now owns 1,128,428 shares of the company’s stock valued at $49,617,000 after purchasing an additional 28,672 shares in the last quarter. Westfield Capital Management Co. LP increased its holdings in MoonLake Immunotherapeutics by 48.8% during the first quarter. Westfield Capital Management Co. LP now owns 910,873 shares of the company’s stock valued at $45,753,000 after buying an additional 298,823 shares during the period. Finally, Finepoint Capital LP raised its stake in MoonLake Immunotherapeutics by 170.1% in the fourth quarter. Finepoint Capital LP now owns 895,000 shares of the company’s stock worth $54,049,000 after buying an additional 563,584 shares in the last quarter. 93.85% of the stock is currently owned by hedge funds and other institutional investors.

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.