Leap Therapeutics (NASDAQ:LPTX) Lifted to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of Leap Therapeutics (NASDAQ:LPTX) from a hold rating to a buy rating in a research report released on Friday, Zacks.com reports. They currently have $1.50 price target on the stock.

According to Zacks, “Leap Therapeutics, Inc. is a biopharmaceutical company. It develops novel therapeutics for the treatment of cancer. Leap Therapeutics, Inc. is based in Cambridge, United States. “

Separately, ValuEngine upgraded shares of Leap Therapeutics from a hold rating to a buy rating in a research note on Thursday, August 1st.

NASDAQ:LPTX opened at $1.46 on Friday. The company has a fifty day moving average of $1.90 and a 200-day moving average of $1.73. The company has a current ratio of 1.99, a quick ratio of 2.77 and a debt-to-equity ratio of 0.07. Leap Therapeutics has a twelve month low of $1.35 and a twelve month high of $8.17.

Leap Therapeutics (NASDAQ:LPTX) last announced its quarterly earnings results on Friday, August 9th. The company reported ($0.37) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.45) by $0.08. On average, sell-side analysts predict that Leap Therapeutics will post -1.39 EPS for the current year.

A number of hedge funds have recently made changes to their positions in LPTX. A.R.T. Advisors LLC bought a new stake in shares of Leap Therapeutics in the 2nd quarter worth $28,000. Bank of New York Mellon Corp bought a new stake in shares of Leap Therapeutics in the 2nd quarter worth $42,000. BlackRock Inc. grew its stake in shares of Leap Therapeutics by 40.0% in the 2nd quarter. BlackRock Inc. now owns 34,233 shares of the company’s stock worth $61,000 after acquiring an additional 9,782 shares in the last quarter. Deutsche Bank AG grew its stake in shares of Leap Therapeutics by 45.7% in the 4th quarter. Deutsche Bank AG now owns 124,338 shares of the company’s stock worth $248,000 after acquiring an additional 39,000 shares in the last quarter. Finally, Vanguard Group Inc. grew its stake in shares of Leap Therapeutics by 183.4% in the 2nd quarter. Vanguard Group Inc. now owns 555,195 shares of the company’s stock worth $994,000 after acquiring an additional 359,320 shares in the last quarter. Institutional investors and hedge funds own 8.82% of the company’s stock.

Leap Therapeutics Company Profile

Leap Therapeutics, Inc, a biopharmaceutical company, acquires and develops therapies for the treatment of cancer. Its clinical stage programs include DKN-01, a monoclonal antibody that inhibits Dickkopf-related protein 1, which is in Phase I/II clinical trial in patients with esophagogastric, biliary tract, gynecologic, and non-small cell lung cancers, as well as hepatocellular carcinoma, a type of liver cancer.

Further Reading: Outstanding Shares

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