Lakefront Biotherapeutics American Depositary Shares (NASDAQ:LKFT) Upgraded at Royal Bank Of Canada

Royal Bank Of Canada upgraded shares of Lakefront Biotherapeutics American Depositary Shares (NASDAQ:LKFT) from a sector perform rating to an outperform rating in a research report released on Wednesday, MarketBeat.com reports. Royal Bank Of Canada currently has $45.00 price objective on the biotechnology company’s stock, up from their previous price objective of $26.00.

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

Lakefront Biotherapeutics American Depositary Shares Stock Performance

Shares of NASDAQ:LKFT opened at $29.38 on Wednesday. The company has a 50 day moving average price of $28.24 and a two-hundred day moving average price of $28.86. The company has a market capitalization of $1.94 billion, a PE ratio of -20.84 and a beta of 0.28. Lakefront Biotherapeutics American Depositary Shares has a 52 week low of $25.68 and a 52 week high of $37.78.

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

Institutional Trading of Lakefront Biotherapeutics American Depositary Shares

Several hedge funds and other institutional investors have recently modified their holdings of the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new position in shares of Lakefront Biotherapeutics American Depositary Shares during the first quarter worth about $248,000. ABC Arbitrage SA bought a new position in shares of Lakefront Biotherapeutics American Depositary Shares during the first quarter worth about $382,000. QRG Capital Management Inc. raised its position in Lakefront Biotherapeutics American Depositary Shares by 21.9% in the 1st quarter. QRG Capital Management Inc. now owns 19,705 shares of the biotechnology company’s stock valued at $591,000 after buying an additional 3,535 shares during the last quarter. Finally, Madison Avenue Partners LP raised its position in 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 buying an additional 17,394 shares during the last quarter. Institutional investors and hedge funds own 32.46% of the company’s stock.

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.