Lakefront Biotherapeutics American Depositary Shares (NASDAQ:LKFT) Issues Quarterly Earnings Results

Lakefront Biotherapeutics American Depositary Shares (NASDAQ:LKFT) announced its quarterly earnings results on Wednesday. The biotechnology company reported ($0.05) earnings per share (EPS) for the quarter, FiscalAI reports. The business had revenue of $7.87 million during the quarter.

Lakefront Biotherapeutics American Depositary Shares Trading Down 0.2%

Lakefront Biotherapeutics American Depositary Shares stock traded down $0.07 during trading on Wednesday, hitting $33.34. 195,167 shares of the company were exchanged, compared to its average volume of 198,439. The business’s 50 day moving average is $30.06 and its 200 day moving average is $29.95. Lakefront Biotherapeutics American Depositary Shares has a 52 week low of $25.68 and a 52 week high of $36.24. The company has a market capitalization of $2.20 billion, a P/E ratio of -23.65 and a beta of 0.22.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on LKFT shares. Royal Bank Of Canada raised Lakefront Biotherapeutics American Depositary Shares from a “sector perform” rating to an “outperform” rating and upped their target price for the stock from $26.00 to $45.00 in a research report on Wednesday, September 23rd. UBS Group upgraded Lakefront Biotherapeutics American Depositary Shares to a “buy” rating in a report on Wednesday, September 23rd. Weiss Ratings raised shares of Lakefront Biotherapeutics American Depositary Shares from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, October 2nd. Morgan Stanley started coverage on shares of Lakefront Biotherapeutics American Depositary Shares in a research report on Tuesday, October 20th. They issued an “equal weight” rating and a $26.00 price target for the company. Finally, TD Cowen began coverage on shares of Lakefront Biotherapeutics American Depositary Shares in a research note on Friday, August 21st. They set a “buy” rating for the company. Three investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $35.50.

Hedge Funds Weigh In On Lakefront Biotherapeutics American Depositary Shares

Several large investors have recently bought and sold shares of the stock. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new stake in shares of Lakefront Biotherapeutics American Depositary Shares in the 1st quarter worth $248,000. Commonwealth Equity Services LLC bought a new position in shares of Lakefront Biotherapeutics American Depositary Shares during the third quarter valued at about $279,000. ABC Arbitrage SA bought a new position in shares of Lakefront Biotherapeutics American Depositary Shares during the first quarter valued at about $382,000. Finally, Alps Advisors Inc. purchased a new position in Lakefront Biotherapeutics American Depositary Shares during the third quarter worth about $2,617,000. 32.46% of the stock is currently owned by institutional investors.

Lakefront Biotherapeutics American Depositary Shares Company Profile

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.