TD Cowen Initiates Coverage on Lakefront Biotherapeutics American Depositary Shares (NASDAQ:LKFT)

Investment analysts at TD Cowen began coverage on shares of Lakefront Biotherapeutics American Depositary Shares (NASDAQ:LKFT) in a research report issued to clients and investors on Friday, Zacks reports. The brokerage set a “strong-buy” rating on the biotechnology company’s stock.

Several other brokerages also recently weighed in on LKFT. Weiss Ratings upgraded Lakefront Biotherapeutics American Depositary Shares from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, October 2nd. Royal Bank Of Canada upgraded Lakefront Biotherapeutics American Depositary Shares from a “sector perform” rating to an “outperform” rating and lifted their target price for the company from $26.00 to $45.00 in a research report on Wednesday, September 23rd. UBS Group raised Lakefront Biotherapeutics American Depositary Shares to a “buy” rating in a research note on Wednesday, September 23rd. Raymond James Financial reissued a “market perform” rating on shares of Lakefront Biotherapeutics American Depositary Shares in a research note on Thursday. Finally, Morgan Stanley started 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 target price for the company. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $35.50.

Lakefront Biotherapeutics American Depositary Shares Trading Up 0.1%

NASDAQ LKFT traded up $0.05 on Friday, hitting $33.98. 287,837 shares of the company’s stock were exchanged, compared to its average volume of 265,015. The stock has a 50-day moving average of $30.36 and a 200-day moving average of $29.94. Lakefront Biotherapeutics American Depositary Shares has a 52 week low of $25.68 and a 52 week high of $36.24. The stock has a market cap of $2.24 billion, a price-to-earnings ratio of -24.10 and a beta of 0.22.

Lakefront Biotherapeutics American Depositary Shares (NASDAQ:LKFT) last issued its quarterly earnings results on Wednesday, November 11th. The biotechnology company reported ($0.05) earnings per share (EPS) for the quarter. The firm had revenue of $7.87 million during the quarter. As a group, analysts predict that Lakefront Biotherapeutics American Depositary Shares will post -1.26 earnings per share for the current year.

Institutional Investors Weigh In On Lakefront Biotherapeutics American Depositary Shares

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Entropy Technologies LP acquired a new position in Lakefront Biotherapeutics American Depositary Shares in the 3rd quarter worth about $887,000. Marshall Wace LLP bought a new position in Lakefront Biotherapeutics American Depositary Shares in the third quarter valued at about $2,326,000. Alps Advisors Inc. acquired a new stake in shares of Lakefront Biotherapeutics American Depositary Shares during the third quarter valued at about $2,617,000. Commonwealth Equity Services LLC acquired a new stake in shares of Lakefront Biotherapeutics American Depositary Shares during the third quarter valued at about $279,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new stake in shares of Lakefront Biotherapeutics American Depositary Shares during the first quarter valued at about $248,000. 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.