Lakefront Biotherapeutics American Depositary Shares (NASDAQ:LKFT) Shares Gap Up After Analyst Upgrade

Shares of Lakefront Biotherapeutics American Depositary Shares (NASDAQ:LKFT) gapped up before the market opened on Wednesday after Royal Bank Of Canada upgraded the stock from a sector perform rating to an outperform rating. The stock had previously closed at $30.19, but opened at $31.13. Royal Bank Of Canada now has a $45.00 price target on the stock, up from their previous price target of $26.00. Lakefront Biotherapeutics American Depositary Shares shares last traded at $32.25, with a volume of 126,967 shares traded.

Other equities analysts have also issued reports about the stock. Morgan Stanley dropped their price objective on shares of Lakefront Biotherapeutics American Depositary Shares from $30.00 to $26.00 and set an “equal weight” rating on the stock in a research report on Tuesday, August 11th. Zacks Research upgraded shares of Lakefront Biotherapeutics American Depositary Shares from a “strong sell” rating to a “hold” rating in a research note on Monday, June 8th. Weiss Ratings cut shares of Lakefront Biotherapeutics American Depositary Shares from a “hold (c)” rating to a “hold (c-)” rating in a report on Wednesday, September 16th. UBS Group upgraded Lakefront Biotherapeutics American Depositary Shares to a “buy” rating in a research note on Wednesday. Finally, TD Cowen started coverage on shares of Lakefront Biotherapeutics American Depositary Shares in a research report on Friday, August 21st. They set a “buy” rating on the stock. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $37.00.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Madison Avenue Partners LP boosted its stake in shares of Lakefront Biotherapeutics American Depositary Shares by 0.8% in the 4th quarter. Madison Avenue Partners LP now owns 2,213,169 shares of the biotechnology company’s stock valued at $72,371,000 after purchasing an additional 17,394 shares during the last quarter. ABC Arbitrage SA acquired a new position in Lakefront Biotherapeutics American Depositary Shares in the first quarter valued at $382,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new stake in Lakefront Biotherapeutics American Depositary Shares during the first quarter valued at $248,000. Finally, QRG Capital Management Inc. boosted its position in Lakefront Biotherapeutics American Depositary Shares by 21.9% during the first quarter. QRG Capital Management Inc. now owns 19,705 shares of the biotechnology company’s stock valued at $591,000 after acquiring an additional 3,535 shares during the last quarter. 32.46% of the stock is currently owned by institutional investors.

Lakefront Biotherapeutics American Depositary Shares Stock Performance

The stock has a fifty day simple moving average of $28.21 and a two-hundred day simple moving average of $28.89. The stock has a market capitalization of $2.12 billion, a price-to-earnings ratio of -22.82 and a beta of 0.28.

Lakefront Biotherapeutics American Depositary Shares (NASDAQ:LKFT) last announced its quarterly earnings results on Monday, August 10th. The biotechnology company reported $0.04 EPS for the quarter, beating analysts’ consensus estimates of ($0.97) by $1.01. The business had revenue of $15.47 million for the quarter, compared to the consensus estimate of $7.29 million. Research analysts forecast that Lakefront Biotherapeutics American Depositary Shares will post -1.27 earnings per share for the current year.

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.