Lakefront Biotherapeutics American Depositary Shares (NASDAQ:LKFT) Stock Rated "Equal Weight" in New Coverage at Morgan Stanley

Key Points

• Morgan Stanley initiated coverage with an “equal weight” rating and a $26 price target, implying approximately 14.9% downside from LKFT’s $30.54 trading price.
• Analyst sentiment remains broadly positive, with a MarketBeat consensus rating of “Moderate Buy” and an average price target of $37.00; RBC recently raised its target to $45 and upgraded the stock to “outperform.”
• Lakefront reported quarterly EPS of $0.03 versus expectations for a $0.97 loss, while revenue of $15.47 million exceeded the $7.29 million consensus estimate. Institutional investors own 32.46% of the company.

Morgan Stanley initiated coverage on shares of Lakefront Biotherapeutics American Depositary Shares (NASDAQ:LKFT - Get Free Report) in a research note 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 target points to a potential downside of 14.87% from the stock's current price.

A number of other equities research analysts also recently issued reports on LKFT. 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 raised shares of Lakefront Biotherapeutics American Depositary Shares from a "sector perform" rating to an "outperform" rating and increased their price target for the stock from $26.00 to $45.00 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 report on Friday, October 2nd. Finally, TD Cowen started coverage on shares of Lakefront Biotherapeutics American Depositary Shares in a report on Friday, August 21st. They issued a "buy" rating on the stock. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $37.00.

Lakefront Biotherapeutics American Depositary Shares Stock Performance

NASDAQ LKFT traded up $0.75 during trading hours on Tuesday, hitting $30.54. 17,955 shares of the company's stock were exchanged, compared to its average volume of 192,498. The business's 50 day moving average is $28.87 and its 200-day moving average is $28.62. Lakefront Biotherapeutics American Depositary Shares has a 12-month low of $25.68 and a 12-month high of $36.24. The firm has a market capitalization of $2.01 billion, a P/E ratio of -21.66 and a beta of 0.24.

Lakefront Biotherapeutics American Depositary Shares (NASDAQ:LKFT - Get Free Report) last posted its quarterly earnings results on Monday, August 10th. The biotechnology company reported $0.03 EPS for the quarter, beating the consensus estimate of ($0.97) by $1.00. The business had revenue of $15.47 million during the quarter, compared to analysts' expectations of $7.29 million. As a group, equities research analysts anticipate that Lakefront Biotherapeutics American Depositary Shares will post -1.27 EPS for the current fiscal year.

Institutional Investors Weigh In On Lakefront Biotherapeutics American Depositary Shares

Institutional investors have recently bought and sold shares of the business. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new stake in Lakefront Biotherapeutics American Depositary Shares during the 1st quarter worth $248,000. ABC Arbitrage SA purchased a new position in Lakefront Biotherapeutics American Depositary Shares in the first quarter valued at about $382,000. Finally, QRG Capital Management Inc. lifted its stake in shares of Lakefront Biotherapeutics American Depositary Shares by 21.9% during the first quarter. QRG Capital Management Inc. now owns 19,705 shares of the biotechnology company's stock worth $591,000 after purchasing 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.

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