Leap Therapeutics (NASDAQ:LPTX) Rating Lowered to Sell at Zacks Investment Research

Zacks Investment Research lowered shares of Leap Therapeutics (NASDAQ:LPTX) from a hold rating to a sell rating in a report published on Wednesday morning, Zacks.com reports.

According to Zacks, “Leap Therapeutics, Inc. is a biopharmaceutical company. It develops novel therapeutics for the treatment of cancer. Leap Therapeutics, Inc. is based in Cambridge, United States. “

LPTX has been the subject of several other reports. Mizuho restated a buy rating and issued a $6.00 price objective on shares of Leap Therapeutics in a research note on Friday, October 22nd. HC Wainwright restated a buy rating and issued a $4.00 price objective on shares of Leap Therapeutics in a research note on Monday, November 15th. One research analyst has rated the stock with a sell rating and four have given a buy rating to the company. According to data from MarketBeat.com, Leap Therapeutics currently has a consensus rating of Buy and an average price target of $3.95.

Shares of Leap Therapeutics stock opened at $2.84 on Wednesday. Leap Therapeutics has a 12 month low of $1.33 and a 12 month high of $4.17. The stock’s fifty day moving average price is $2.67 and its 200-day moving average price is $2.34.

Leap Therapeutics (NASDAQ:LPTX) last announced its quarterly earnings results on Friday, November 12th. The company reported ($0.14) EPS for the quarter, missing the consensus estimate of ($0.11) by ($0.03). Leap Therapeutics had a negative net margin of 2,433.93% and a negative return on equity of 63.02%. The firm had revenue of $0.38 million for the quarter, compared to analysts’ expectations of $0.38 million. Sell-side analysts predict that Leap Therapeutics will post -0.49 earnings per share for the current year.

Hedge funds have recently made changes to their positions in the stock. Lindbrook Capital LLC increased its position in shares of Leap Therapeutics by 900.0% in the third quarter. Lindbrook Capital LLC now owns 10,000 shares of the company’s stock valued at $40,000 after buying an additional 9,000 shares in the last quarter. International Assets Investment Management LLC acquired a new stake in shares of Leap Therapeutics in the third quarter worth approximately $40,000. Donaldson Capital Management LLC acquired a new stake in shares of Leap Therapeutics in the third quarter worth approximately $49,000. Total Clarity Wealth Management Inc. acquired a new stake in shares of Leap Therapeutics in the third quarter worth approximately $50,000. Finally, Valeo Financial Advisors LLC acquired a new stake in shares of Leap Therapeutics in the third quarter worth approximately $52,000. Institutional investors own 61.18% of the company’s stock.

About Leap Therapeutics

Leap Therapeutics, Inc is a clinical stage biopharmaceutical company, which engages in developing novel therapies designed to treat patients with cancer. Its clinical stage programs are DKN-01, which is a monoclonal antibody that inhibits Dickkopf-related protein 1, or DKK1 and TRX518, which is a monoclonal antibody targeting the glucocorticoid-induced tumor necrosis factor-related receptor, or GITR.

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