Lakefront Biotherapeutics American Depositary Shares (NASDAQ:LKFT) Shares Climb 6% – Here’s Why

Lakefront Biotherapeutics American Depositary Shares (NASDAQ:LKFT) were up 6% during trading on Thursday. The company traded as high as $35.34 and last traded at $35.34. Approximately 109,317 shares changed hands during mid-day trading, a decline of 45% from the average daily volume of 197,988 shares. The stock had previously closed at $33.34.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on LKFT shares. Morgan Stanley initiated coverage on shares of Lakefront Biotherapeutics American Depositary Shares in a report on Tuesday, October 20th. They issued an “equal weight” rating and a $26.00 price target on the stock. UBS Group raised shares of Lakefront Biotherapeutics American Depositary Shares to a “buy” rating in a report on Wednesday, September 23rd. Weiss Ratings upgraded shares of Lakefront Biotherapeutics American Depositary Shares from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, October 2nd. Raymond James Financial reissued a “market perform” rating on shares of Lakefront Biotherapeutics American Depositary Shares in a report on Thursday. Finally, TD Cowen assumed coverage on shares of Lakefront Biotherapeutics American Depositary Shares in a report on Friday, August 21st. They set a “buy” rating for the company. Three research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $35.50.

Lakefront Biotherapeutics American Depositary Shares Stock Up 2.5%

The company has a market capitalization of $2.25 billion, a PE ratio of -24.25 and a beta of 0.22. The firm has a 50-day moving average of $30.16 and a two-hundred day moving average of $29.95.

Lakefront Biotherapeutics American Depositary Shares (NASDAQ:LKFT) last released its quarterly earnings data on Wednesday, November 11th. The biotechnology company reported ($0.05) EPS for the quarter. The business had revenue of $7.87 million during the quarter. Equities analysts predict that Lakefront Biotherapeutics American Depositary Shares will post -1.26 EPS for the current fiscal year.

Institutional Trading of Lakefront Biotherapeutics American Depositary Shares

Hedge funds have recently added to or reduced their stakes in the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new stake in Lakefront Biotherapeutics American Depositary Shares during the first quarter valued at $248,000. Commonwealth Equity Services LLC purchased a new stake in shares of Lakefront Biotherapeutics American Depositary Shares during the 3rd quarter worth about $279,000. ABC Arbitrage SA purchased a new stake in shares of Lakefront Biotherapeutics American Depositary Shares during the 1st quarter worth about $382,000. Finally, Alps Advisors Inc. purchased a new stake in shares of Lakefront Biotherapeutics American Depositary Shares during the 3rd quarter worth about $2,617,000. 32.46% of the stock is owned by hedge funds and other institutional investors.

About Lakefront Biotherapeutics American Depositary Shares

Galapagos NV, an integrated biopharmaceutical company, engages in the discovery, development, and commercialization of various medicines for high unmet medical need. Its pipeline products include filgotinib, a JAK1 inhibitor that is in various phases of clinical trials for the treatment of rheumatoid arthritis, Crohn’s disease, ulcerative colitis, small bowel CD, fistulizing CD, ankylosing spondylitis, psoriatic arthritis, and uveitis. The company’s pipeline products also comprise GLPG1972 that has completed Phase 2b trial for treating osteoarthritis; Toledo molecules, including GLPG3970, GLPG4399, and GLPG4876 for inflammation; and GLPG4716 and Ziritaxestat to treat idiopathic pulmonary fibrosis.