Lakefront Biotherapeutics American Depositary Shares (NASDAQ:LKFT) Upgraded to “Outperform” at Royal Bank Of Canada

Lakefront Biotherapeutics American Depositary Shares (NASDAQ:LKFT) was upgraded by investment analysts at Royal Bank Of Canada from a “sector perform” rating to an “outperform” rating in a research report issued on Wednesday, Marketbeat Ratings reports. The brokerage currently has a $45.00 price objective on the biotechnology company’s stock, up from their prior price objective of $26.00. Royal Bank Of Canada’s price objective would suggest a potential upside of 49.06% from the company’s previous close.

Other equities research analysts have also recently issued reports about the stock. UBS Group upgraded shares of Lakefront Biotherapeutics American Depositary Shares to a “buy” rating in a research report on Wednesday. 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 for the company in a research note on Tuesday, August 11th. TD Cowen began coverage on shares of Lakefront Biotherapeutics American Depositary Shares in a report on Friday, August 21st. They issued a “buy” rating for the company. Zacks Research raised shares of Lakefront Biotherapeutics American Depositary Shares from a “strong sell” rating to a “hold” rating in a research note on Monday, June 8th. Finally, Weiss Ratings cut Lakefront Biotherapeutics American Depositary Shares from a “hold (c)” rating to a “hold (c-)” rating in a report on Wednesday, September 16th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $37.00.

Lakefront Biotherapeutics American Depositary Shares Trading Up 2.0%

Lakefront Biotherapeutics American Depositary Shares stock opened at $30.19 on Wednesday. The firm has a market cap of $1.99 billion, a PE ratio of -21.41 and a beta of 0.28. Lakefront Biotherapeutics American Depositary Shares has a 12 month low of $25.68 and a 12 month high of $37.78. The stock’s 50 day simple moving average is $28.21 and its two-hundred day simple moving average is $28.89.

Lakefront Biotherapeutics American Depositary Shares (NASDAQ:LKFT) last issued its quarterly earnings results on Monday, August 10th. The biotechnology company reported $0.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.97) by $1.01. The business had revenue of $15.47 million for the quarter, compared to analysts’ expectations of $7.29 million. On average, equities research analysts forecast that Lakefront Biotherapeutics American Depositary Shares will post -1.27 EPS for the current year.

Hedge Funds Weigh In On Lakefront Biotherapeutics American Depositary Shares

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Madison Avenue Partners LP raised its holdings in shares of Lakefront Biotherapeutics American Depositary Shares by 0.8% in 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 purchasing an additional 17,394 shares in the last quarter. QRG Capital Management Inc. grew 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. ABC Arbitrage SA purchased a new position in Lakefront Biotherapeutics American Depositary Shares in the first quarter valued at $382,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new position in Lakefront Biotherapeutics American Depositary Shares in the first quarter valued at $248,000. 32.46% of the stock is currently owned by hedge funds and other institutional investors.

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.