Lakefront Biotherapeutics American Depositary Shares (NASDAQ:LKFT) Research Coverage Started at TD Cowen

TD Cowen initiated coverage on shares of Lakefront Biotherapeutics American Depositary Shares (NASDAQ:LKFT) in a research note released on Friday morning, Marketbeat.com reports. The brokerage issued a buy rating on the biotechnology company’s stock.

A number of other equities analysts have also recently issued reports on LKFT. Weiss Ratings cut Lakefront Biotherapeutics American Depositary Shares from a “hold (c)” rating to a “hold (c-)” rating in a report on Tuesday, August 4th. Wall Street Zen lowered shares of Lakefront Biotherapeutics American Depositary Shares from a “buy” rating to a “hold” rating in a research note on Saturday, May 16th. Zacks Research upgraded shares of Lakefront Biotherapeutics American Depositary Shares from a “strong sell” rating to a “hold” rating in a research note on Monday, June 8th. Royal Bank Of Canada dropped their target price on shares of Lakefront Biotherapeutics American Depositary Shares from $28.00 to $26.00 and set a “sector perform” rating on the stock in a research report on Tuesday, August 11th. Finally, Morgan Stanley cut their target price on shares of Lakefront Biotherapeutics American Depositary Shares from $30.00 to $26.00 and set an “equal weight” rating on the stock in a research note on Tuesday, August 11th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $30.67.

Lakefront Biotherapeutics American Depositary Shares Stock Performance

LKFT stock opened at $28.80 on Friday. The firm has a market cap of $1.90 billion, a PE ratio of -20.43 and a beta of 0.27. The stock has a 50-day moving average price of $28.67 and a 200-day moving average price of $29.73. Lakefront Biotherapeutics American Depositary Shares has a 1-year low of $25.68 and a 1-year high of $37.78.

Lakefront Biotherapeutics American Depositary Shares (NASDAQ:LKFT) last announced its earnings results on Monday, August 10th. The biotechnology company reported $0.04 EPS for the quarter, beating the consensus estimate of ($0.97) by $1.01. The business had revenue of $15.47 million for the quarter, compared to the consensus estimate of $7.29 million. On average, analysts forecast that Lakefront Biotherapeutics American Depositary Shares will post -1.29 earnings per share for the current year.

Hedge Funds Weigh In On Lakefront Biotherapeutics American Depositary Shares

Institutional investors have recently modified their holdings of the company. Bank of America Corp DE grew its holdings in Lakefront Biotherapeutics American Depositary Shares by 2.1% during the third quarter. Bank of America Corp DE now owns 30,949 shares of the biotechnology company’s stock worth $1,072,000 after buying an additional 643 shares in the last quarter. Van ECK Associates Corp lifted its stake in Lakefront Biotherapeutics American Depositary Shares by 61.6% during the 4th quarter. Van ECK Associates Corp now owns 1,968 shares of the biotechnology company’s stock valued at $64,000 after acquiring an additional 750 shares in the last quarter. Two Sigma Investments LP lifted its stake in Lakefront Biotherapeutics American Depositary Shares by 3.7% during the 3rd quarter. Two Sigma Investments LP now owns 22,459 shares of the biotechnology company’s stock valued at $778,000 after acquiring an additional 800 shares in the last quarter. State of Wyoming purchased a new position in Lakefront Biotherapeutics American Depositary Shares during the 2nd quarter worth $28,000. Finally, Arax Advisory Partners boosted its holdings in Lakefront Biotherapeutics American Depositary Shares by 319.2% during the 4th quarter. Arax Advisory Partners now owns 2,335 shares of the biotechnology company’s stock worth $76,000 after acquiring an additional 1,778 shares during the last quarter. 32.46% of the stock is owned by institutional investors and hedge funds.

About Lakefront Biotherapeutics American Depositary Shares

Galapagos NV (NASDAQ:GLPG) is a clinical-stage biotechnology company headquartered in Mechelen, Belgium, focused on the discovery and development of novel small-molecule therapies. Established in 1999 through the merger of Tibotec and Progenix, Galapagos has built a research platform targeting chronic inflammatory diseases, fibrosis and oncology. The company’s discovery engine integrates human genetics, translational biology and medicinal chemistry to identify and optimize drug candidates with unique modes of action.

The company’s pipeline encompasses multiple programs across various stages of development.