Royal Bank Of Canada Has Lowered Expectations for Lakefront Biotherapeutics American Depositary Shares (NASDAQ:LKFT) Stock Price

Key Points

• Royal Bank of Canada cut its LKFT price target from $28 to $26 while maintaining a “sector perform” rating, implying about 7% downside from the prior close. Analysts overall rate the stock “Hold,” with a consensus target of $30.67.
• LKFT shares rose 3.9% to $27.96, despite trading below their 12-month high of $37.78. The company reported quarterly EPS of $0.04 versus expectations for a $0.97 loss and revenue of $15.47 million, above the $7.29 million consensus estimate.
• Institutional investors and hedge funds own approximately 32.46% of the company, with several firms recently initiating or expanding positions.

Lakefront Biotherapeutics American Depositary Shares (NASDAQ:LKFT - Get Free Report) had its target price cut by equities research analysts at Royal Bank Of Canada from $28.00 to $26.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a "sector perform" rating on the biotechnology company's stock. Royal Bank Of Canada's price target points to a potential downside of 7.01% from the stock's previous close.

A number of other research analysts have also recently weighed in on LKFT. Morgan Stanley set a $26.00 price objective on shares of Lakefront Biotherapeutics American Depositary Shares in a report on Tuesday. Weiss Ratings cut Lakefront Biotherapeutics American Depositary Shares from a "hold (c)" rating to a "hold (c-)" rating in a report on Tuesday, August 4th. Wall Street Zen lowered Lakefront Biotherapeutics American Depositary Shares from a "buy" rating to a "hold" rating in a report on Saturday, May 16th. Finally, Zacks Research upgraded Lakefront Biotherapeutics American Depositary Shares from a "strong sell" rating to a "hold" rating in a research report on Monday, June 8th. One research analyst has rated the stock with a Strong Buy rating and seven have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $30.67.

Lakefront Biotherapeutics American Depositary Shares Stock Up 3.9%

Shares of LKFT stock traded up $1.05 on Tuesday, hitting $27.96. The company had a trading volume of 123,846 shares, compared to its average volume of 158,460. Lakefront Biotherapeutics American Depositary Shares has a twelve month low of $25.68 and a twelve month high of $37.78. The firm has a market cap of $1.84 billion, a P/E ratio of -19.83 and a beta of 0.27. The company has a 50-day moving average price of $28.65 and a 200-day moving average price of $30.11.

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 earnings per share for the quarter, beating the consensus estimate of ($0.97) by $1.01. The company had revenue of $15.47 million for the quarter, compared to analysts' expectations of $7.29 million. Equities research analysts expect that Lakefront Biotherapeutics American Depositary Shares will post -10.83 EPS for the current year.

Institutional Investors Weigh In On Lakefront Biotherapeutics American Depositary Shares

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. State of Wyoming acquired a new position in Lakefront Biotherapeutics American Depositary Shares during the second quarter worth $28,000. Van ECK Associates Corp increased its position in Lakefront Biotherapeutics American Depositary Shares by 61.6% during 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 last quarter. Arax Advisory Partners raised its stake in Lakefront Biotherapeutics American Depositary Shares by 319.2% during the fourth quarter. Arax Advisory Partners now owns 2,335 shares of the biotechnology company's stock worth $76,000 after purchasing an additional 1,778 shares during the period. Quadrant Capital Group LLC purchased a new position in Lakefront Biotherapeutics American Depositary Shares during the third quarter worth about $134,000. Finally, Squarepoint Ops LLC acquired a new position in Lakefront Biotherapeutics American Depositary Shares in the 3rd quarter valued at about $211,000. Institutional investors and hedge funds 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.

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