Lakefront Biotherapeutics American Depositary Shares (NASDAQ:LKFT) Stock Rated Strong-Buy in New Coverage at TD Cowen

TD Cowen initiated coverage on shares of Lakefront Biotherapeutics American Depositary Shares (NASDAQ:LKFT) in a report released on Friday, Zacks reports. The firm set a “strong-buy” rating on the biotechnology company’s stock.

Several other equities analysts also recently issued reports on LKFT. Raymond James Financial reiterated a “market perform” rating on shares of Lakefront Biotherapeutics American Depositary Shares in a research report on Thursday. Royal Bank Of Canada upgraded Lakefront Biotherapeutics American Depositary Shares from a “sector perform” rating to an “outperform” rating and raised their target price for the company from $26.00 to $45.00 in a research report on Wednesday, September 23rd. Morgan Stanley assumed coverage on Lakefront Biotherapeutics American Depositary Shares in a research note on Tuesday, October 20th. They set an “equal weight” rating and a $26.00 target price on the stock. Weiss Ratings upgraded Lakefront Biotherapeutics American Depositary Shares from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, October 2nd. Finally, UBS Group upgraded Lakefront Biotherapeutics American Depositary Shares to a “buy” rating in a research report on Wednesday, September 23rd. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $35.50.

Lakefront Biotherapeutics American Depositary Shares Price Performance

Shares of LKFT stock traded up $0.05 during trading hours on Friday, reaching $33.98. The stock had a trading volume of 287,837 shares, compared to its average volume of 265,015. Lakefront Biotherapeutics American Depositary Shares has a twelve month low of $25.68 and a twelve month high of $36.24. The firm has a 50-day simple moving average of $30.36 and a 200-day simple moving average of $29.94. The firm has a market capitalization of $2.24 billion, a PE ratio of -24.10 and a beta of 0.22.

Lakefront Biotherapeutics American Depositary Shares (NASDAQ:LKFT) last issued its quarterly earnings data on Wednesday, November 11th. The biotechnology company reported ($0.05) earnings per share for the quarter. The company had revenue of $7.87 million for the quarter. On average, equities analysts anticipate that Lakefront Biotherapeutics American Depositary Shares will post -1.26 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Marshall Wace LLP acquired a new stake in Lakefront Biotherapeutics American Depositary Shares during the third quarter valued at $2,326,000. Alps Advisors Inc. acquired a new position in Lakefront Biotherapeutics American Depositary Shares in the 3rd quarter worth about $2,617,000. Commonwealth Equity Services LLC acquired a new position in Lakefront Biotherapeutics American Depositary Shares in the 3rd quarter worth about $279,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new position in Lakefront Biotherapeutics American Depositary Shares in the 1st quarter worth about $248,000. 32.46% of the stock is currently owned by 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.