Royal Bank Of Canada Cuts Lakefront Biotherapeutics American Depositary Shares (NASDAQ:LKFT) Price Target to $26.00

Lakefront Biotherapeutics American Depositary Shares (NASDAQ:LKFT) had its price objective lowered by Royal Bank Of Canada from $28.00 to $26.00 in a research report released on Tuesday morning,Benzinga reports. Royal Bank Of Canada currently has a sector perform rating on the biotechnology company’s stock.

Other research analysts have also issued reports about the stock. Morgan Stanley decreased their price objective on shares of Lakefront Biotherapeutics American Depositary Shares from $30.00 to $26.00 and set an “equal weight” rating for the company in a report on Tuesday. Weiss Ratings lowered shares of Lakefront Biotherapeutics American Depositary Shares from a “hold (c)” rating to a “hold (c-)” rating in a research note on Tuesday, August 4th. Zacks Research upgraded shares of Lakefront Biotherapeutics American Depositary Shares from a “strong sell” rating to a “hold” rating in a research report on Monday, June 8th. Finally, Wall Street Zen downgraded shares of Lakefront Biotherapeutics American Depositary Shares from a “buy” rating to a “hold” rating in a research note on Saturday, May 16th. One investment analyst has rated the stock with a Strong Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $30.67.

Lakefront Biotherapeutics American Depositary Shares Stock Performance

LKFT opened at $28.04 on Tuesday. Lakefront Biotherapeutics American Depositary Shares has a 52-week low of $25.68 and a 52-week high of $37.78. The stock has a market capitalization of $1.85 billion, a PE ratio of -19.89 and a beta of 0.27. The stock’s 50 day moving average price is $28.69 and its 200-day moving average price is $29.99.

Lakefront Biotherapeutics American Depositary Shares (NASDAQ:LKFT) last announced its quarterly earnings results on Monday, August 10th. The biotechnology company reported $0.04 EPS for the quarter, topping analysts’ consensus estimates of ($0.97) by $1.01. The business had revenue of $15.47 million during the quarter, compared to analysts’ expectations of $7.29 million. Research analysts forecast that Lakefront Biotherapeutics American Depositary Shares will post -0.99 EPS for the current fiscal year.

Hedge Funds Weigh In On Lakefront Biotherapeutics American Depositary Shares

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Western Standard LLC purchased a new position in Lakefront Biotherapeutics American Depositary Shares during the 4th quarter valued at about $1,046,000. UBS Group AG boosted its stake in Lakefront Biotherapeutics American Depositary Shares by 128.4% during the fourth quarter. UBS Group AG now owns 349,444 shares of the biotechnology company’s stock worth $11,427,000 after acquiring an additional 196,445 shares in the last quarter. Van ECK Associates Corp grew its holdings in Lakefront Biotherapeutics American Depositary Shares by 61.6% in the fourth quarter. Van ECK Associates Corp now owns 1,968 shares of the biotechnology company’s stock worth $64,000 after purchasing an additional 750 shares during the period. Squarepoint Ops LLC purchased a new stake in Lakefront Biotherapeutics American Depositary Shares in the third quarter worth about $211,000. Finally, Quadrant Capital Group LLC bought a new position in shares of Lakefront Biotherapeutics American Depositary Shares during the third quarter valued at approximately $134,000. Hedge funds and other institutional investors own 32.46% of the company’s stock.

About Lakefront Biotherapeutics American Depositary Shares

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.