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

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

Leap Therapeutics Price Performance

LPTX opened at $2.89 on Friday. Leap Therapeutics has a 12 month low of $1.34 and a 12 month high of $5.00. The business has a 50-day moving average of $2.94 and a two-hundred day moving average of $2.58. The stock has a market capitalization of $73.98 million, a price-to-earnings ratio of -1.50 and a beta of 0.22.

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

Institutional Investors Weigh In On Leap Therapeutics

Several large investors have recently made changes to their positions in LPTX. Vanguard Group Inc. grew its position in Leap Therapeutics by 111.7% in the first quarter. Vanguard Group Inc. now owns 867,708 shares of the company’s stock worth $2,308,000 after buying an additional 457,904 shares during the last quarter. Simplify Asset Management Inc. grew its holdings 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 valued at $2,716,000 after acquiring an additional 425,626 shares in the last quarter. Acadian Asset Management LLC increased its position in 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 purchasing an additional 219,563 shares during the last quarter. Marshall Wace LLP lifted its holdings in shares of Leap Therapeutics by 268.2% during the 2nd quarter. Marshall Wace LLP now owns 79,758 shares of the company’s stock valued at $156,000 after buying an additional 58,094 shares during the last quarter. Finally, Key Client Fiduciary Advisors LLC grew its stake in shares of Leap Therapeutics by 22.2% in the 2nd quarter. Key Client Fiduciary Advisors LLC now owns 284,856 shares of the company’s stock valued at $558,000 after buying an additional 51,838 shares in the last quarter. Institutional investors and hedge funds own 30.46% of the company’s stock.

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.