Lakefront Biotherapeutics American Depositary Shares (NASDAQ:LKFT) Given New $26.00 Price Target at Royal Bank Of Canada

Lakefront Biotherapeutics American Depositary Shares (NASDAQ:LKFT) had its target price decreased by investment analysts at Royal Bank Of Canada from $28.00 to $26.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a “sector perform” rating on the biotechnology company’s stock. Royal Bank Of Canada’s target price would indicate a potential downside of 7.01% from the company’s previous close.

Several other analysts also recently weighed in on LKFT. Weiss Ratings downgraded shares of Lakefront Biotherapeutics American Depositary Shares from a “hold (c)” rating to a “hold (c-)” rating in a report on Tuesday, August 4th. Morgan Stanley set a $26.00 price target on Lakefront Biotherapeutics American Depositary Shares in a research note on Tuesday. 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. Finally, Wall Street Zen cut Lakefront Biotherapeutics American Depositary Shares from a “buy” rating to a “hold” rating in a research note on Saturday, May 16th. One equities research analyst has rated the stock with a Strong Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $30.67.

Lakefront Biotherapeutics American Depositary Shares Trading Up 3.9%

NASDAQ LKFT traded up $1.05 during trading hours on Tuesday, reaching $27.96. The company had a trading volume of 123,846 shares, compared to its average volume of 158,460. The stock has a market capitalization of $1.84 billion, a P/E ratio of -19.83 and a beta of 0.27. The stock has a 50-day moving average of $28.65 and a 200 day moving average of $30.11. 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) last released its quarterly earnings results on Monday, August 10th. The biotechnology company reported $0.04 earnings per share (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 analysts’ expectations of $7.29 million. As a group, sell-side analysts predict that Lakefront Biotherapeutics American Depositary Shares will post -10.83 EPS for the current year.

Hedge Funds 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 purchased a new stake in shares of Lakefront Biotherapeutics American Depositary Shares during the second quarter worth approximately $28,000. Van ECK Associates Corp increased its position in shares of Lakefront Biotherapeutics American Depositary Shares by 61.6% in 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 during the last quarter. Arax Advisory Partners raised its holdings 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 in the last quarter. Quadrant Capital Group LLC purchased a new stake in shares of Lakefront Biotherapeutics American Depositary Shares during the 3rd quarter worth $134,000. Finally, Squarepoint Ops LLC purchased a new stake in shares of Lakefront Biotherapeutics American Depositary Shares during the 3rd quarter worth $211,000. Hedge funds and other institutional investors 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.