Leap Therapeutics (NASDAQ:LPTX) Receives Buy Rating from HC Wainwright

Leap Therapeutics (NASDAQ:LPTX)‘s stock had its “buy” rating reissued by research analysts at HC Wainwright in a research note issued to investors on Friday,Benzinga reports. They currently have a $5.50 price target on the stock. HC Wainwright’s price objective would suggest a potential upside of 90.31% from the company’s current price.

Leap Therapeutics Stock Down 3.7 %

LPTX stock opened at $2.89 on Friday. Leap Therapeutics has a 52 week low of $1.34 and a 52 week high of $5.00. The firm has a 50-day simple moving average of $2.94 and a 200-day simple moving average of $2.58. The stock has a market capitalization of $73.98 million, a P/E ratio of -1.50 and a beta of 0.22.

Leap Therapeutics (NASDAQ:LPTX) last released its quarterly earnings data on Monday, August 12th. The company reported ($0.52) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.42) by ($0.10). On average, analysts expect that Leap Therapeutics will post -1.84 earnings per share for the current year.

Institutional Trading of Leap Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Simplify Asset Management Inc. boosted its position in shares of Leap Therapeutics by 67.4% during the 3rd quarter. Simplify Asset Management Inc. now owns 1,056,895 shares of the company’s stock worth $2,716,000 after purchasing an additional 425,626 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Leap Therapeutics by 111.7% during the 1st quarter. Vanguard Group Inc. now owns 867,708 shares of the company’s stock valued at $2,308,000 after acquiring an additional 457,904 shares during the period. Key Client Fiduciary Advisors LLC boosted its stake in shares of Leap Therapeutics by 13.0% during the 3rd quarter. Key Client Fiduciary Advisors LLC now owns 321,923 shares of the company’s stock worth $827,000 after acquiring an additional 37,067 shares in the last quarter. Acadian Asset Management LLC grew its holdings in shares of Leap Therapeutics by 349.3% in the 1st quarter. Acadian Asset Management LLC now owns 282,413 shares of the company’s stock worth $750,000 after acquiring an additional 219,563 shares during the period. Finally, Marshall Wace LLP increased its stake in Leap Therapeutics by 268.2% in the 2nd quarter. Marshall Wace LLP now owns 79,758 shares of the company’s stock valued at $156,000 after purchasing an additional 58,094 shares in the last quarter. 30.46% of the stock is owned by hedge funds and other institutional investors.

Leap Therapeutics Company Profile

Leap Therapeutics, Inc, a biopharmaceutical company, acquires and develops antibody therapies for the treatment of cancer. Its lead product candidates include DKN-01, a monoclonal antibody that inhibits Dickkopf-related protein 1, which is in multiple ongoing clinical trials for treating esophagogastric and gynecologic cancers; and FL-301, a monoclonal antibody that targets cells that express Claudin18.2 on their cell surface and is in phase II clinical trial, as well as two preclinical antibody programs, FL-302 and FL-501.