MoonLake Immunotherapeutics (NASDAQ:MLTX) to Post Q2 2024 Earnings of ($0.23) Per Share, Leerink Partnrs Forecasts

MoonLake Immunotherapeutics (NASDAQ:MLTX) – Equities researchers at Leerink Partnrs cut their Q2 2024 earnings per share estimates for MoonLake Immunotherapeutics in a report issued on Tuesday, May 7th. Leerink Partnrs analyst T. Smith now anticipates that the company will post earnings of ($0.23) per share for the quarter, down from their prior estimate of ($0.16). The consensus estimate for MoonLake Immunotherapeutics’ current full-year earnings is ($1.11) per share. Leerink Partnrs also issued estimates for MoonLake Immunotherapeutics’ Q3 2024 earnings at ($0.26) EPS, Q4 2024 earnings at ($0.27) EPS, FY2024 earnings at ($0.82) EPS, FY2025 earnings at ($1.39) EPS, FY2026 earnings at ($2.26) EPS, FY2027 earnings at ($3.09) EPS and FY2028 earnings at $2.01 EPS.

Other research analysts have also issued research reports about the company. Needham & Company LLC reissued a “buy” rating and issued a $66.00 target price on shares of MoonLake Immunotherapeutics in a report on Wednesday. The Goldman Sachs Group began coverage on MoonLake Immunotherapeutics in a report on Tuesday, April 2nd. They set a “neutral” rating and a $62.00 price objective on the stock. HC Wainwright reaffirmed a “buy” rating and set a $100.00 price objective on shares of MoonLake Immunotherapeutics in a report on Wednesday. William Blair reaffirmed an “outperform” rating and set a $92.00 price objective on shares of MoonLake Immunotherapeutics in a report on Monday, February 26th. Finally, Wolfe Research began coverage on MoonLake Immunotherapeutics in a report on Thursday, February 15th. They set an “outperform” rating and a $77.00 price objective on the stock. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $74.46.

MoonLake Immunotherapeutics Price Performance

NASDAQ:MLTX opened at $40.92 on Friday. The stock’s 50 day simple moving average is $45.70 and its 200-day simple moving average is $50.63. MoonLake Immunotherapeutics has a 12-month low of $24.31 and a 12-month high of $64.98.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last released its earnings results on Tuesday, May 7th. The company reported ($0.22) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.03).

Insider Activity

In other news, CEO Da Silva Jorge Santos sold 4,740 shares of the company’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $55.89, for a total value of $264,918.60. Following the sale, the chief executive officer now directly owns 2,982,814 shares in the company, valued at $166,709,474.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Da Silva Jorge Santos sold 4,740 shares of the company’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $55.89, for a total value of $264,918.60. Following the sale, the chief executive officer now directly owns 2,982,814 shares in the company, valued at $166,709,474.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Kristian Reich sold 10,000 shares of the stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $60.15, for a total value of $601,500.00. Following the transaction, the insider now owns 110,071 shares in the company, valued at $6,620,770.65. The disclosure for this sale can be found here. Insiders have sold 166,981 shares of company stock worth $9,490,674 over the last three months. 12.02% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On MoonLake Immunotherapeutics

Large investors have recently added to or reduced their stakes in the business. Quarry LP purchased a new position in MoonLake Immunotherapeutics during the fourth quarter worth about $51,000. Barclays PLC purchased a new position in MoonLake Immunotherapeutics during the third quarter worth about $189,000. Stratos Wealth Partners LTD. acquired a new stake in MoonLake Immunotherapeutics during the fourth quarter worth about $202,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in MoonLake Immunotherapeutics during the fourth quarter worth about $217,000. Finally, J.P. Morgan Private Wealth Advisors LLC acquired a new stake in MoonLake Immunotherapeutics during the third quarter worth about $246,000. 93.85% of the stock is currently owned by hedge funds and other institutional investors.

MoonLake Immunotherapeutics Company Profile

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.