Raymond James Initiates Coverage on Leap Therapeutics (NASDAQ:LPTX)

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Raymond James initiated coverage on shares of Leap Therapeutics (NASDAQ:LPTX) in a research note issued to investors on Friday, The Fly reports. The brokerage issued an outperform rating and a $5.00 price target on the stock.

Other equities research analysts have also recently issued research reports about the stock. ValuEngine raised shares of Leap Therapeutics from a hold rating to a buy rating in a research report on Thursday, August 1st. Zacks Investment Research raised shares of Leap Therapeutics from a hold rating to a buy rating and set a $1.50 price target for the company in a research report on Friday, August 16th.

LPTX stock opened at $1.77 on Friday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.99 and a current ratio of 1.99. Leap Therapeutics has a 52 week low of $1.35 and a 52 week high of $8.17. The firm’s fifty day moving average is $1.71 and its 200 day moving average is $1.72. The firm has a market cap of $41.59 million, a P/E ratio of -0.71 and a beta of 2.51.

Leap Therapeutics (NASDAQ:LPTX) last released its earnings results on Friday, August 9th. The company reported ($0.37) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.45) by $0.08. As a group, analysts forecast that Leap Therapeutics will post -1.39 EPS for the current year.

Institutional investors and hedge funds have recently made changes to their positions in the business. A.R.T. Advisors LLC purchased a new stake in shares of Leap Therapeutics in the 2nd quarter worth about $28,000. Bank of New York Mellon Corp purchased a new stake in shares of Leap Therapeutics in the 2nd quarter worth about $42,000. BlackRock Inc. lifted its position in shares of Leap Therapeutics by 40.0% in the 2nd quarter. BlackRock Inc. now owns 34,233 shares of the company’s stock worth $61,000 after purchasing an additional 9,782 shares during the period. Deutsche Bank AG lifted its position in shares of Leap Therapeutics by 45.7% in the 4th quarter. Deutsche Bank AG now owns 124,338 shares of the company’s stock worth $248,000 after purchasing an additional 39,000 shares during the period. Finally, Vanguard Group Inc. lifted its position in shares of Leap Therapeutics by 183.4% in the 2nd quarter. Vanguard Group Inc. now owns 555,195 shares of the company’s stock worth $994,000 after purchasing an additional 359,320 shares during the period. 10.84% of the stock is owned by institutional investors and hedge funds.

About Leap Therapeutics

Leap Therapeutics, Inc, a biopharmaceutical company, acquires and develops therapies for the treatment of cancer. Its clinical stage programs include DKN-01, a monoclonal antibody that inhibits Dickkopf-related protein 1, which is in Phase I/II clinical trial in patients with esophagogastric, biliary tract, gynecologic, and non-small cell lung cancers, as well as hepatocellular carcinoma, a type of liver cancer.

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