Although analyst takes on stocks should always be evaluated critically, they can really move a company's share price in the right or wrong direction. On Tuesday, that dynamic was apparent with biotech MoonLake Immunotherapeutics (NASDAQ: MLTX).

Thanks to several prognosticator price target boosts following encouraging clinical data, the company's stock rocketed 13% higher on the day, blasting past the S&P 500 index's 1.2% rise.

Investors were already over the moon about MoonLake on Monday; the biotech company's stock price skyrocketed after it published that data. It came from a phase 2 trial of its investigational treatment sonelokimab, which met its primary endpoints for both safety and efficacy in the treatment of chronic skin condition hidradenitis suppurativa (HS).

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Source Fool.com