Lakefront Biotherapeutics American Depositary Shares (NASDAQ:LKFT) Stock Now Rated "Moderate Buy" by Sell-Side Analysts

Key Points

• Analyst consensus is “Moderate Buy”: Nine firms cover LKFT, with three buy ratings, one strong buy, and five holds. The average 12-month price target is $37, versus a recent price of $29.52.
• Recent analyst actions were mixed but generally improved, including UBS upgrading the stock to “buy” and RBC raising its rating to “outperform” while increasing its target to $45; Morgan Stanley lowered its target to $26 and maintained an “equal weight” rating.
• LKFT recently exceeded quarterly expectations, reporting $0.04 in EPS versus a projected $0.97 loss and revenue of $15.47 million versus a $7.29 million estimate. Institutional investors and hedge funds own 32.46% of the company.

Shares of Lakefront Biotherapeutics American Depositary Shares (NASDAQ:LKFT - Get Free Report) have been given an average rating of "Moderate Buy" by the nine ratings firms that are presently covering the stock, Marketbeat reports. Five investment analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $37.00.

Several brokerages recently issued reports on LKFT. TD Cowen started 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. Morgan Stanley dropped their price objective on Lakefront Biotherapeutics American Depositary Shares from $30.00 to $26.00 and set an "equal weight" rating on the stock in a research note on Tuesday, August 11th. Zacks Research raised Lakefront Biotherapeutics American Depositary Shares from a "strong sell" rating to a "hold" rating in a research report on Monday, June 8th. UBS Group upgraded Lakefront Biotherapeutics American Depositary Shares to a "buy" rating in a research note on Wednesday, September 23rd. Finally, Royal Bank Of Canada raised Lakefront Biotherapeutics American Depositary Shares from a "sector perform" rating to an "outperform" rating and boosted their target price for the stock from $26.00 to $45.00 in a report on Wednesday, September 23rd.

Institutional Trading of Lakefront Biotherapeutics American Depositary Shares

A number of hedge funds have recently modified their holdings of the stock. ABC Arbitrage SA acquired a new position in Lakefront Biotherapeutics American Depositary Shares in the 1st quarter valued at about $382,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new position in Lakefront Biotherapeutics American Depositary Shares in the 1st quarter valued at $248,000. QRG Capital Management Inc. increased its position 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 buying an additional 3,535 shares during the period. Finally, Madison Avenue Partners LP boosted its position in shares of Lakefront Biotherapeutics American Depositary Shares by 0.8% in the fourth 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 during the period. Institutional investors and hedge funds own 32.46% of the company's stock.

Lakefront Biotherapeutics American Depositary Shares Trading Down 1.1%

Shares of LKFT opened at $29.52 on Wednesday. The company's fifty day simple moving average is $28.26 and its 200 day simple moving average is $28.78. Lakefront Biotherapeutics American Depositary Shares has a 1-year low of $25.68 and a 1-year high of $37.78. The company has a market cap of $1.95 billion, a price-to-earnings ratio of -20.94 and a beta of 0.28.

Lakefront Biotherapeutics American Depositary Shares (NASDAQ:LKFT - Get Free Report) last announced its quarterly 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 firm had revenue of $15.47 million during the quarter, compared to analyst estimates of $7.29 million. As a group, research analysts forecast that Lakefront Biotherapeutics American Depositary Shares will post -1.27 earnings per share for the current year.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.