Lakefront Biotherapeutics American Depositary Shares (NASDAQ:LKFT) Stock Rating Upgraded by Royal Bank Of Canada

Lakefront Biotherapeutics American Depositary Shares (NASDAQ:LKFT) was upgraded by Royal Bank Of Canada from a “sector perform” rating to an “outperform” rating in a research note issued on Wednesday, Marketbeat Ratings reports. The firm presently has a $45.00 price objective on the biotechnology company’s stock, up from their previous price objective of $26.00. Royal Bank Of Canada’s price objective would suggest a potential upside of 49.06% from the stock’s previous close.

A number of other research analysts have also issued reports on LKFT. UBS Group upgraded shares of Lakefront Biotherapeutics American Depositary Shares to a “buy” rating in a research note on Wednesday. Zacks Research raised Lakefront Biotherapeutics American Depositary Shares from a “strong sell” rating to a “hold” rating in a research note on Monday, June 8th. TD Cowen started coverage on Lakefront Biotherapeutics American Depositary Shares in a research note on Friday, August 21st. They issued a “buy” rating on the stock. Weiss Ratings lowered Lakefront Biotherapeutics American Depositary Shares from a “hold (c)” rating to a “hold (c-)” rating in a report on Wednesday, September 16th. Finally, Morgan Stanley cut their price objective on Lakefront Biotherapeutics American Depositary Shares from $30.00 to $26.00 and set an “equal weight” rating for the company in a research report on Tuesday, August 11th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $37.00.

Lakefront Biotherapeutics American Depositary Shares Stock Performance

LKFT opened at $30.19 on Wednesday. Lakefront Biotherapeutics American Depositary Shares has a one year low of $25.68 and a one year high of $37.78. The stock has a market capitalization of $1.99 billion, a P/E ratio of -21.41 and a beta of 0.28. The business’s 50-day simple moving average is $28.21 and its 200-day simple moving average is $28.89.

Lakefront Biotherapeutics American Depositary Shares (NASDAQ:LKFT) last issued its quarterly earnings results on Monday, August 10th. The biotechnology company reported $0.04 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.97) by $1.01. The business had revenue of $15.47 million for the quarter, compared to analyst estimates of $7.29 million. On average, equities research analysts forecast that Lakefront Biotherapeutics American Depositary Shares will post -1.27 EPS for the current fiscal year.

Institutional Investors Weigh In On Lakefront Biotherapeutics American Depositary Shares

Several institutional investors have recently modified their holdings of the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new stake in shares of Lakefront Biotherapeutics American Depositary Shares in the 1st quarter worth approximately $248,000. ABC Arbitrage SA purchased a new position in Lakefront Biotherapeutics American Depositary Shares in the 1st quarter valued at approximately $382,000. QRG Capital Management Inc. raised its holdings in Lakefront Biotherapeutics American Depositary Shares by 21.9% during the first quarter. QRG Capital Management Inc. now owns 19,705 shares of the biotechnology company’s stock worth $591,000 after purchasing an additional 3,535 shares during the last quarter. Finally, Madison Avenue Partners LP raised its holdings in Lakefront Biotherapeutics American Depositary Shares by 0.8% during the fourth quarter. Madison Avenue Partners LP now owns 2,213,169 shares of the biotechnology company’s stock worth $72,371,000 after purchasing an additional 17,394 shares during the last quarter. Hedge funds and other institutional investors own 32.46% of the company’s stock.

Lakefront Biotherapeutics American Depositary Shares Company Profile

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.