Lantern Pharma (NASDAQ:LTRN) Coverage Initiated by Analysts at Lake Street Capital

Equities research analysts at Lake Street Capital began coverage on shares of Lantern Pharma (NASDAQ:LTRN) in a report issued on Wednesday,Benzinga reports. The firm set a “buy” rating and a $25.00 price target on the stock.

Lantern Pharma Stock Performance

Lantern Pharma stock opened at $3.31 on Wednesday. The stock has a market capitalization of $35.70 million, a P/E ratio of -1.86 and a beta of 1.64. Lantern Pharma has a 52 week low of $2.79 and a 52 week high of $9.36. The stock has a fifty day moving average of $4.24 and a 200-day moving average of $3.78.

Lantern Pharma (NASDAQ:LTRN) last issued its quarterly earnings data on Thursday, March 27th. The company reported ($0.54) EPS for the quarter, missing the consensus estimate of ($0.51) by ($0.03). On average, research analysts forecast that Lantern Pharma will post -1.9 earnings per share for the current year.

Institutional Investors Weigh In On Lantern Pharma

A number of institutional investors have recently made changes to their positions in LTRN. BIOS Capital Management LP bought a new stake in Lantern Pharma in the fourth quarter valued at approximately $3,853,000. Voss Capital LP acquired a new stake in shares of Lantern Pharma in the 4th quarter valued at about $160,000. Westside Investment Management Inc. grew its stake in shares of Lantern Pharma by 166.5% in the 3rd quarter. Westside Investment Management Inc. now owns 30,650 shares of the company’s stock valued at $112,000 after buying an additional 19,150 shares during the period. CM Management LLC raised its stake in Lantern Pharma by 8.1% during the 4th quarter. CM Management LLC now owns 200,000 shares of the company’s stock worth $638,000 after buying an additional 15,000 shares during the period. Finally, Sanctuary Advisors LLC acquired a new position in Lantern Pharma during the 4th quarter worth approximately $32,000. Institutional investors own 28.62% of the company’s stock.

About Lantern Pharma

Lantern Pharma Inc, a clinical stage biotechnology company, focuses on artificial intelligence, machine learning, and genomic data to streamline the drug development process. Its product pipeline comprises LP-300, which is in phase 2 clinical trial in combination therapy for never-smokers with non-small cell lung cancer adenocarcinoma; LP-184, which is in phase 1 clinical trial for the treatment of solid tumor, such as pancreatic, breast, bladder, and lung cancers, and glioblastoma and other central nervous system cancers; and LP-284, which is in phase 1 clinical trial for the treatment of non-Hodgkin's lymphomas, including mantle cell lymphoma and double hit lymphoma.