Lakefront Biotherapeutics American Depositary Shares (NASDAQ:LKFT) Posts Earnings Results, Beats Expectations By $1.01 EPS

Lakefront Biotherapeutics American Depositary Shares (NASDAQ:LKFT) posted its quarterly earnings data on Monday. The biotechnology company reported $0.04 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.97) by $1.01, FiscalAI reports. The business had revenue of $15.47 million during the quarter, compared to analyst estimates of $7.29 million.

Lakefront Biotherapeutics American Depositary Shares Price Performance

Lakefront Biotherapeutics American Depositary Shares stock traded down $0.09 during trading hours on Monday, hitting $26.91. 158,430 shares of the stock traded hands, compared to its average volume of 158,908. The firm’s 50 day moving average price is $28.67 and its 200-day moving average price is $30.16. The stock has a market capitalization of $1.77 billion, a price-to-earnings ratio of -19.09 and a beta of 0.27. Lakefront Biotherapeutics American Depositary Shares has a 1 year low of $25.68 and a 1 year high of $37.78.

Institutional Investors Weigh In On Lakefront Biotherapeutics American Depositary Shares

A number of institutional investors and hedge funds have recently modified their holdings of the company. Ameriprise Financial Inc. grew its holdings in Lakefront Biotherapeutics American Depositary Shares by 2,490.1% during the third quarter. Ameriprise Financial Inc. now owns 1,416,934 shares of the biotechnology company’s stock worth $49,083,000 after acquiring an additional 1,362,229 shares during the period. Millennium Management LLC lifted its holdings in Lakefront Biotherapeutics American Depositary Shares by 121.9% in the fourth quarter. Millennium Management LLC now owns 339,354 shares of the biotechnology company’s stock valued at $11,097,000 after acquiring an additional 186,452 shares during the period. Jane Street Group LLC lifted its holdings in Lakefront Biotherapeutics American Depositary Shares by 2,245.7% in the first quarter. Jane Street Group LLC now owns 110,783 shares of the biotechnology company’s stock valued at $2,783,000 after acquiring an additional 115,946 shares during the period. Kotler Kevin purchased a new stake in Lakefront Biotherapeutics American Depositary Shares in the 4th quarter worth approximately $2,943,000. Finally, Norges Bank purchased a new stake in Lakefront Biotherapeutics American Depositary Shares in the 4th quarter worth approximately $2,943,000. Institutional investors and hedge funds own 32.46% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on LKFT shares. Morgan Stanley started coverage on Lakefront Biotherapeutics American Depositary Shares in a research note on Friday, July 10th. They issued an “equal weight” rating and a $30.00 price target for the company. Wall Street Zen downgraded shares of Lakefront Biotherapeutics American Depositary Shares from a “buy” rating to a “hold” rating in a report on Saturday, May 16th. Weiss Ratings lowered shares of Lakefront Biotherapeutics American Depositary Shares from a “hold (c)” rating to a “hold (c-)” rating in a research report on Tuesday, August 4th. Finally, 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. One analyst has rated the stock with a Strong Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $34.33.

Lakefront Biotherapeutics American Depositary Shares Company Profile

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.