Lakefront Biotherapeutics American Depositary Shares (NASDAQ:LKFT) Posts Earnings Results

Lakefront Biotherapeutics American Depositary Shares (NASDAQ:LKFT) announced its earnings results on Wednesday. The biotechnology company reported ($0.05) earnings per share (EPS) for the quarter, FiscalAI reports. The company had revenue of $7.87 million during the quarter.

Lakefront Biotherapeutics American Depositary Shares Stock Down 0.2%

Shares of NASDAQ:LKFT opened at $33.34 on Thursday. The company has a 50-day moving average price of $30.16 and a 200 day moving average price of $29.95. The company has a market cap of $2.20 billion, a P/E ratio of -23.65 and a beta of 0.22. Lakefront Biotherapeutics American Depositary Shares has a 52 week low of $25.68 and a 52 week high of $36.24.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Alps Advisors Inc. acquired a new position in Lakefront Biotherapeutics American Depositary Shares during the third quarter worth $2,617,000. ABC Arbitrage SA purchased a new position in Lakefront Biotherapeutics American Depositary Shares during the first quarter worth $382,000. Commonwealth Equity Services LLC acquired a new position in shares of Lakefront Biotherapeutics American Depositary Shares in the third quarter worth $279,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new position in shares of Lakefront Biotherapeutics American Depositary Shares in the first quarter worth $248,000. Institutional investors and hedge funds own 32.46% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on LKFT. UBS Group upgraded Lakefront Biotherapeutics American Depositary Shares to a “buy” rating in a research note on Wednesday, September 23rd. Weiss Ratings upgraded 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. Morgan Stanley began 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 on the stock. Royal Bank Of Canada upgraded shares of Lakefront Biotherapeutics American Depositary Shares from a “sector perform” rating to an “outperform” rating and upped their price target for the company from $26.00 to $45.00 in a research report on Wednesday, September 23rd. Finally, TD Cowen started coverage on shares of Lakefront Biotherapeutics American Depositary Shares in a research note on Friday, August 21st. They set a “buy” rating for the company. Three research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, Lakefront Biotherapeutics American Depositary Shares has an average rating of “Hold” and an average target price of $35.50.

About Lakefront Biotherapeutics American Depositary Shares

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.