HC Wainwright initiated coverage on shares of Leap Therapeutics (NASDAQ:LPTX) in a research report issued to clients and investors on Thursday, Marketbeat.com reports. The brokerage set a “buy” rating and a $12.50 price target on the stock. HC Wainwright’s target price points to a potential upside of 66.89% from the company’s previous close.
The analysts wrote, “Olga Smolentseva, Ph.D. – (646-975-6966) / [email protected] Initial DKN-01 Results Show Promise; Anti- GITR Combines Well With Chemo; Reiterate Buy Preclinical and clinical results highlights the effects of DKN-01 on the immune system. On April 16, Leap presented new results at the 2018 American Association for Cancer Research (AACR) Annual Conference that highlight the immunomodulatory effect of DKN-01 in preclinical tumor models. According to the latest results, DKN-01 is able to significantly alter the makeup of the tumor microenvironment (Exhibit 1), attract immune cells by inducing Cxcl10 expression (Exhibit 2), and improve the efficacy of PD-1 checkpoint inhibition (Exhibit 3).””
Other equities research analysts have also recently issued reports about the company. Zacks Investment Research upgraded Leap Therapeutics from a “hold” rating to a “buy” rating and set a $7.00 price target for the company in a research note on Wednesday, January 3rd. ValuEngine upgraded Leap Therapeutics from a “strong sell” rating to a “sell” rating in a research note on Thursday, March 22nd.
Shares of LPTX stock opened at $7.49 on Thursday. Leap Therapeutics has a 1 year low of $4.90 and a 1 year high of $10.25.
Leap Therapeutics (NASDAQ:LPTX) last issued its quarterly earnings results on Friday, February 23rd. The company reported ($0.65) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.77) by $0.12. equities research analysts predict that Leap Therapeutics will post -2.37 EPS for the current fiscal year.
A hedge fund recently bought a new stake in Leap Therapeutics stock. Sabby Management LLC bought a new position in shares of Leap Therapeutics (NASDAQ:LPTX) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 89,350 shares of the company’s stock, valued at approximately $558,000. Sabby Management LLC owned about 0.72% of Leap Therapeutics at the end of the most recent reporting period. 2.77% of the stock is owned by institutional investors.
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About Leap Therapeutics
Leap Therapeutics, Inc, formerly HealthCare Pharmaceuticals, Inc, is a clinical-stage biopharmaceutical company. The Company engages in acquiring and developing therapeutics in cancer biology. Its lead product candidates for use in clinical trials include TRX518 and DKN-01. DKN-01 is a monoclonal antibody targeting Dickkopf-related protein 1 (DKK1).
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