Lakefront Biotherapeutics American Depositary Shares (NASDAQ:LKFT) Stock Has Consensus Target Price of $37.00

Shares of Lakefront Biotherapeutics American Depositary Shares (NASDAQ:LKFT) have been assigned a consensus recommendation of “Moderate Buy” from the nine ratings firms that are presently covering the firm, Marketbeat Ratings reports. Five research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $37.00.

LKFT has been the topic of several research reports. Royal Bank Of Canada upgraded shares of Lakefront Biotherapeutics American Depositary Shares from a “sector perform” rating to an “outperform” rating and raised their target price for the stock from $26.00 to $45.00 in a report on Wednesday, September 23rd. Morgan Stanley lowered their price target on Lakefront Biotherapeutics American Depositary Shares from $30.00 to $26.00 and set an “equal weight” rating on the stock in a report on Tuesday, August 11th. TD Cowen started coverage on Lakefront Biotherapeutics American Depositary Shares in a report on Friday, August 21st. They issued a “buy” rating for the company. Weiss Ratings upgraded Lakefront Biotherapeutics American Depositary Shares from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday. Finally, UBS Group upgraded Lakefront Biotherapeutics American Depositary Shares to a “buy” rating in a research report on Wednesday, September 23rd.

Hedge Funds Weigh In On Lakefront Biotherapeutics American Depositary Shares

A number of institutional investors and hedge funds have recently made changes to their positions in LKFT. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new stake in Lakefront Biotherapeutics American Depositary Shares during the 1st quarter worth approximately $248,000. ABC Arbitrage SA purchased a new stake in shares of Lakefront Biotherapeutics American Depositary Shares in the first quarter worth $382,000. QRG Capital Management Inc. raised its position in shares of Lakefront Biotherapeutics American Depositary Shares by 21.9% during the 1st 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. Finally, Madison Avenue Partners LP raised its position in shares of Lakefront Biotherapeutics American Depositary Shares by 0.8% during 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 period. Hedge funds and other institutional investors own 32.46% of the company’s stock.

Lakefront Biotherapeutics American Depositary Shares Stock Performance

Lakefront Biotherapeutics American Depositary Shares stock opened at $29.37 on Wednesday. Lakefront Biotherapeutics American Depositary Shares has a fifty-two week low of $25.68 and a fifty-two week high of $37.78. The stock’s 50 day simple moving average is $28.32 and its two-hundred day simple moving average is $28.72. The stock has a market cap of $1.94 billion, a price-to-earnings ratio of -20.83 and a beta of 0.24.

Lakefront Biotherapeutics American Depositary Shares (NASDAQ:LKFT) last announced its quarterly earnings results on Monday, August 10th. The biotechnology company reported $0.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.97) by $1.00. The company had revenue of $15.47 million for the quarter, compared to analysts’ expectations of $7.29 million. On average, analysts predict that Lakefront Biotherapeutics American Depositary Shares will post -1.27 earnings per share for the current year.

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.