HC Wainwright Reaffirms Buy Rating for Leap Therapeutics (NASDAQ:LPTX)

HC Wainwright reiterated their buy rating on shares of Leap Therapeutics (NASDAQ:LPTX) in a research note published on Tuesday morning, Benzinga reports. They currently have a $5.50 target price on the stock. HC Wainwright also issued estimates for Leap Therapeutics’ Q3 2024 earnings at ($0.37) EPS, Q4 2024 earnings at ($0.31) EPS, FY2024 earnings at ($1.68) EPS, Q1 2025 earnings at ($0.28) EPS, Q2 2025 earnings at ($0.29) EPS, Q3 2025 earnings at ($0.31) EPS, Q4 2025 earnings at ($0.33) EPS, FY2025 earnings at ($1.21) EPS, FY2026 earnings at ($0.95) EPS, FY2027 earnings at ($0.91) EPS and FY2028 earnings at ($0.72) EPS.

Separately, Rodman & Renshaw started coverage on Leap Therapeutics in a report on Friday, June 28th. They issued a buy rating and a $8.00 price target for the company. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has a consensus rating of Buy and a consensus target price of $10.40.

Leap Therapeutics Stock Up 1.2 %

NASDAQ LPTX traded up $0.03 during trading hours on Tuesday, hitting $2.49. 2,161 shares of the company were exchanged, compared to its average volume of 233,707. Leap Therapeutics has a 52-week low of $1.24 and a 52-week high of $5.00. The firm has a market cap of $63.74 million, a price-to-earnings ratio of -1.04 and a beta of 0.31. The company has a 50 day moving average of $2.09 and a two-hundred day moving average of $2.56.

Leap Therapeutics (NASDAQ:LPTX) last announced its earnings results on Monday, May 13th. The company reported ($0.51) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.57) by $0.06. On average, equities research analysts predict that Leap Therapeutics will post -1.66 EPS for the current year.

Institutional Investors Weigh In On Leap Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in LPTX. Marshall Wace LLP boosted its holdings in Leap Therapeutics by 268.2% in the second quarter. Marshall Wace LLP now owns 79,758 shares of the company’s stock valued at $156,000 after acquiring an additional 58,094 shares during the last quarter. Key Client Fiduciary Advisors LLC increased its position in shares of Leap Therapeutics by 22.2% during the second quarter. Key Client Fiduciary Advisors LLC now owns 284,856 shares of the company’s stock worth $558,000 after acquiring an additional 51,838 shares during the last quarter. Acadian Asset Management LLC increased its position in shares of Leap Therapeutics by 349.3% during the first quarter. Acadian Asset Management LLC now owns 282,413 shares of the company’s stock worth $750,000 after acquiring an additional 219,563 shares during the last quarter. Simplify Asset Management Inc. increased its holdings in Leap Therapeutics by 67.9% in the second quarter. Simplify Asset Management Inc. now owns 631,269 shares of the company’s stock valued at $1,237,000 after buying an additional 255,293 shares during the last quarter. Finally, Vanguard Group Inc. increased its holdings in Leap Therapeutics by 111.7% in the first quarter. Vanguard Group Inc. now owns 867,708 shares of the company’s stock valued at $2,308,000 after buying an additional 457,904 shares during the last quarter. Hedge funds and other institutional investors own 30.46% of the company’s stock.

About Leap Therapeutics

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.