Lakefront Biotherapeutics American Depositary Shares (NASDAQ:LKFT) Research Coverage Started at Morgan Stanley

Morgan Stanley initiated coverage on shares of Lakefront Biotherapeutics American Depositary Shares (NASDAQ:LKFT) in a research note released on Tuesday. The brokerage issued an equal weight rating and a $26.00 price target on the biotechnology company’s stock.

A number of other equities analysts also recently commented on the company. TD Cowen initiated coverage on Lakefront Biotherapeutics American Depositary Shares in a report on Friday, August 21st. They issued a “buy” rating on the stock. Weiss Ratings raised Lakefront Biotherapeutics American Depositary Shares from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, October 2nd. Royal Bank Of Canada upgraded Lakefront Biotherapeutics American Depositary Shares from a “sector perform” rating to an “outperform” rating and boosted their target price for the stock from $26.00 to $45.00 in a report on Wednesday, September 23rd. Finally, UBS Group raised shares of Lakefront Biotherapeutics American Depositary Shares to a “buy” rating in a research report on Wednesday, September 23rd. Three investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $35.50.

Lakefront Biotherapeutics American Depositary Shares Stock Performance

LKFT stock opened at $31.40 on Tuesday. The business has a fifty day simple moving average of $29.04 and a 200-day simple moving average of $28.65. Lakefront Biotherapeutics American Depositary Shares has a 52 week low of $25.68 and a 52 week high of $36.24.

Lakefront Biotherapeutics American Depositary Shares (NASDAQ:LKFT) last issued its earnings results on Monday, August 10th. The biotechnology company reported $0.03 earnings per share for the quarter, topping the consensus estimate of ($0.97) by $1.00. The firm had revenue of $15.47 million during the quarter, compared to analysts’ expectations of $7.29 million. Research analysts expect that Lakefront Biotherapeutics American Depositary Shares will post -1.26 EPS for the current year.

Institutional Trading of Lakefront Biotherapeutics American Depositary Shares

Institutional investors have recently added to or reduced their stakes in the business. QRG Capital Management Inc. raised its position in Lakefront Biotherapeutics American Depositary Shares by 21.9% in the first quarter. QRG Capital Management Inc. now owns 19,705 shares of the biotechnology company’s stock valued at $591,000 after purchasing an additional 3,535 shares during the period. ABC Arbitrage SA acquired a new position in shares of Lakefront Biotherapeutics American Depositary Shares during the first quarter worth about $382,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new stake in shares of Lakefront Biotherapeutics American Depositary Shares in the first quarter worth about $248,000. 32.46% of the stock is 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.