TD Cowen Initiates Coverage on Lakefront Biotherapeutics American Depositary Shares (NASDAQ:LKFT)

Key Points

• TD Cowen initiated coverage with a “buy” rating on Lakefront Biotherapeutics American Depositary Shares (NASDAQ: LKFT), while the broader analyst consensus remains “Hold” with an average price target of $30.67.
• LKFT reported quarterly EPS of $0.04, beating the consensus estimate of a $0.97 loss, and revenue of $15.47 million versus expectations of $7.29 million.
• The stock opened at $28.27, with a market capitalization of approximately $1.86 billion; hedge funds and other institutional investors own 32.46% of the company.

Research analysts at TD Cowen initiated coverage on shares of Lakefront Biotherapeutics American Depositary Shares (NASDAQ:LKFT - Get Free Report) in a report released on Friday. The firm set a "buy" rating on the biotechnology company's stock.

LKFT has been the topic of several other research reports. Royal Bank Of Canada cut their price target 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 report on Tuesday, August 11th. Weiss Ratings cut shares of Lakefront Biotherapeutics American Depositary Shares from a "hold (c)" rating to a "hold (c-)" rating in a research note on Tuesday, August 4th. Morgan Stanley dropped their price objective on shares of Lakefront Biotherapeutics American Depositary Shares from $30.00 to $26.00 and set an "equal weight" rating on the stock in a report on Tuesday, August 11th. Wall Street Zen lowered shares of Lakefront Biotherapeutics American Depositary Shares from a "buy" rating to a "hold" rating in a research note on Saturday, May 16th. Finally, Zacks Research raised shares of Lakefront Biotherapeutics American Depositary Shares from a "strong sell" rating to a "hold" rating in a report on Monday, June 8th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and seven have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $30.67.

Lakefront Biotherapeutics American Depositary Shares Price Performance

Shares of LKFT stock opened at $28.27 on Friday. The business has a fifty day moving average of $28.67 and a 200 day moving average of $29.77. The firm has a market capitalization of $1.86 billion, a price-to-earnings ratio of -20.05 and a beta of 0.27. Lakefront Biotherapeutics American Depositary Shares has a 1 year low of $25.68 and a 1 year high of $37.78.

Lakefront Biotherapeutics American Depositary Shares (NASDAQ:LKFT - Get Free Report) last announced its quarterly earnings data on Monday, August 10th. The biotechnology company reported $0.04 earnings per share 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, equities research analysts expect that Lakefront Biotherapeutics American Depositary Shares will post -1.29 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. State of Wyoming acquired a new stake in shares of Lakefront Biotherapeutics American Depositary Shares during the 2nd quarter worth approximately $28,000. Van ECK Associates Corp increased its holdings in shares of Lakefront Biotherapeutics American Depositary Shares by 61.6% during the 4th quarter. Van ECK Associates Corp now owns 1,968 shares of the biotechnology company's stock valued at $64,000 after purchasing an additional 750 shares in the last quarter. Arax Advisory Partners lifted its stake in shares of Lakefront Biotherapeutics American Depositary Shares by 319.2% in the 4th quarter. Arax Advisory Partners now owns 2,335 shares of the biotechnology company's stock valued at $76,000 after purchasing an additional 1,778 shares during the period. Quadrant Capital Group LLC acquired a new position in shares of Lakefront Biotherapeutics American Depositary Shares in the 3rd quarter valued at $134,000. Finally, Squarepoint Ops LLC purchased a new stake in Lakefront Biotherapeutics American Depositary Shares during the third quarter worth $211,000. 32.46% of the stock is currently owned by hedge funds and other institutional investors.

Lakefront Biotherapeutics American Depositary Shares Company Profile

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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