Lakefront Biotherapeutics American Depositary Shares (NASDAQ:LKFT) Given Average Recommendation of "Hold" by Brokerages

Key Points

• Analyst consensus is “Hold”: Seven of nine analysts rate LKFT a hold, while one recommends buy and one strong buy. The average 12-month price target is $30.67.
• Several firms recently lowered their price targets, including Morgan Stanley and RBC, both cutting targets to $26 while maintaining neutral ratings. TD Cowen initiated coverage with a buy rating.
• The company reported quarterly EPS of $0.04, beating expectations for a $0.97 loss, while revenue of $15.47 million exceeded estimates of $7.29 million. The stock opened at $28.49, down 1.8%, with institutional investors owning 32.46% of shares.

Lakefront Biotherapeutics American Depositary Shares (NASDAQ:LKFT - Get Free Report) has been assigned an average rating of "Hold" from the nine ratings firms that are covering the company, MarketBeat Ratings reports. Seven research analysts have rated the stock with a hold recommendation, one has issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $30.6667.

Several equities research analysts have weighed in on the company. Morgan Stanley dropped their target price on Lakefront Biotherapeutics American Depositary Shares from $30.00 to $26.00 and set an "equal weight" rating on the stock in a research report on Tuesday, August 11th. TD Cowen started coverage on shares of Lakefront Biotherapeutics American Depositary Shares in a report on Friday, August 21st. They set a "buy" rating for the company. Wall Street Zen lowered shares of Lakefront Biotherapeutics American Depositary Shares from a "buy" rating to a "hold" rating in a research report on Saturday, May 16th. Weiss Ratings raised shares of Lakefront Biotherapeutics American Depositary Shares from a "hold (c-)" rating to a "hold (c)" rating in a report on Thursday, August 27th. Finally, Royal Bank Of Canada cut their price objective on shares of Lakefront Biotherapeutics American Depositary Shares from $28.00 to $26.00 and set a "sector perform" rating on the stock in a research report on Tuesday, August 11th.

Lakefront Biotherapeutics American Depositary Shares Stock Down 1.8%

LKFT opened at $28.49 on Friday. The company's 50-day moving average price is $28.72 and its 200 day moving average price is $29.42. Lakefront Biotherapeutics American Depositary Shares has a fifty-two week low of $25.68 and a fifty-two week high of $37.78. The firm has a market cap of $1.88 billion, a price-to-earnings ratio of -20.21 and a beta of 0.28.

Lakefront Biotherapeutics American Depositary Shares (NASDAQ:LKFT - Get Free Report) last issued its earnings results on Monday, August 10th. The biotechnology company reported $0.04 EPS for the quarter, beating analysts' consensus estimates of ($0.97) by $1.01. The company had revenue of $15.47 million during the quarter, compared to analyst estimates of $7.29 million. Research analysts anticipate that Lakefront Biotherapeutics American Depositary Shares will post -1.27 earnings per share for the current year.

Hedge Funds Weigh In On Lakefront Biotherapeutics American Depositary Shares

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Madison Avenue Partners LP raised its stake in Lakefront Biotherapeutics American Depositary Shares by 0.8% during the 4th quarter. Madison Avenue Partners LP now owns 2,213,169 shares of the biotechnology company's stock valued at $72,371,000 after acquiring an additional 17,394 shares in the last quarter. Ameriprise Financial Inc. grew its stake in shares of Lakefront Biotherapeutics American Depositary Shares by 2,490.1% in the third quarter. Ameriprise Financial Inc. now owns 1,416,934 shares of the biotechnology company's stock worth $49,083,000 after purchasing an additional 1,362,229 shares in the last quarter. UBS Group AG grew its stake in shares of Lakefront Biotherapeutics American Depositary Shares by 128.4% in the fourth quarter. UBS Group AG now owns 349,444 shares of the biotechnology company's stock worth $11,427,000 after purchasing an additional 196,445 shares in the last quarter. Millennium Management LLC increased its holdings in shares of Lakefront Biotherapeutics American Depositary Shares by 121.9% during the fourth quarter. Millennium Management LLC now owns 339,354 shares of the biotechnology company's stock valued at $11,097,000 after purchasing an additional 186,452 shares during the period. Finally, Jane Street Group LLC increased its holdings in shares of Lakefront Biotherapeutics American Depositary Shares by 2,245.7% during the first quarter. Jane Street Group LLC now owns 110,783 shares of the biotechnology company's stock valued at $2,783,000 after purchasing an additional 115,946 shares during the period. 32.46% of the stock is owned by institutional investors.

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.

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