Lakefront Biotherapeutics American Depositary Shares (NASDAQ:LKFT) Stock Picked Up by Analysts at Morgan Stanley

Equities researchers at Morgan Stanley started coverage on shares of Lakefront Biotherapeutics American Depositary Shares (NASDAQ:LKFT) in a report issued on Tuesday. The firm set an “equal weight” rating and a $26.00 price target on the biotechnology company’s stock. Morgan Stanley’s price objective suggests a potential downside of 14.87% from the stock’s previous close.

Several other research analysts also recently weighed in on LKFT. TD Cowen began coverage on shares of Lakefront Biotherapeutics American Depositary Shares in a research note on Friday, August 21st. They issued a “buy” rating for the company. UBS Group upgraded shares of Lakefront Biotherapeutics American Depositary Shares to a “buy” rating in a report on Wednesday, September 23rd. Royal Bank Of Canada upgraded shares of Lakefront Biotherapeutics American Depositary Shares from a “sector perform” rating to an “outperform” rating and boosted their price objective for the stock from $26.00 to $45.00 in a report on Wednesday, September 23rd. Finally, Weiss Ratings raised shares of Lakefront Biotherapeutics American Depositary Shares from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, October 2nd. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $37.00.

Lakefront Biotherapeutics American Depositary Shares Price Performance

Lakefront Biotherapeutics American Depositary Shares stock traded up $0.75 during midday trading on Tuesday, hitting $30.54. 17,955 shares of the company were exchanged, compared to its average volume of 192,498. The company’s fifty day moving average price is $28.87 and its 200-day moving average price is $28.62. The company has a market cap of $2.01 billion, a PE ratio of -21.66 and a beta of 0.24. Lakefront Biotherapeutics American Depositary Shares has a fifty-two week low of $25.68 and a fifty-two week high of $36.24.

Lakefront Biotherapeutics American Depositary Shares (NASDAQ:LKFT) last released its quarterly earnings results on Monday, August 10th. The biotechnology company reported $0.03 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.97) by $1.00. The company had revenue of $15.47 million during the quarter, compared to analysts’ expectations of $7.29 million. On average, analysts expect that Lakefront Biotherapeutics American Depositary Shares will post -1.27 EPS for the current fiscal year.

Hedge Funds Weigh In On Lakefront Biotherapeutics American Depositary Shares

Several institutional investors and hedge funds have recently made changes to their positions in LKFT. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new stake in Lakefront Biotherapeutics American Depositary Shares in the first quarter valued at $248,000. ABC Arbitrage SA acquired a new position in Lakefront Biotherapeutics American Depositary Shares during the 1st quarter worth $382,000. Finally, QRG Capital Management Inc. grew its holdings in Lakefront Biotherapeutics American Depositary Shares by 21.9% during the 1st quarter. QRG Capital Management Inc. now owns 19,705 shares of the biotechnology company’s stock worth $591,000 after acquiring an additional 3,535 shares in the last quarter. 32.46% of the stock is currently owned by hedge funds and other institutional investors.

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.