Leap Therapeutics (NASDAQ:LPTX) Coverage Initiated by Analysts at Rodman & Renshaw

Rodman & Renshaw initiated coverage on shares of Leap Therapeutics (NASDAQ:LPTX) in a research report released on Friday morning, MarketBeat.com reports. The firm issued a buy rating and a $8.00 target price on the stock.

Several other equities research analysts also recently weighed in on the stock. Robert W. Baird cut their target price on shares of Leap Therapeutics from $11.00 to $9.00 and set an outperform rating on the stock in a research note on Tuesday, March 19th. HC Wainwright cut their target price on shares of Leap Therapeutics from $7.00 to $5.50 and set a buy rating on the stock in a research note on Tuesday, May 14th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has an average rating of Buy and an average price target of $10.40.

Leap Therapeutics Stock Up 10.7 %

Shares of LPTX opened at $1.96 on Friday. Leap Therapeutics has a fifty-two week low of $1.24 and a fifty-two week high of $5.00. The firm’s 50 day moving average price is $2.53 and its 200 day moving average price is $2.87.

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

Institutional Investors Weigh In On Leap Therapeutics

A number of large investors have recently modified their holdings of LPTX. 683 Capital Management LLC increased its position in shares of Leap Therapeutics by 60.7% in the 3rd quarter. 683 Capital Management LLC now owns 490,000 shares of the company’s stock valued at $676,000 after purchasing an additional 185,001 shares during the last quarter. Acuta Capital Partners LLC purchased a new position in shares of Leap Therapeutics in the 3rd quarter valued at $489,000. Key Client Fiduciary Advisors LLC grew its position in shares of Leap Therapeutics by 43.3% in the 3rd quarter. Key Client Fiduciary Advisors LLC now owns 227,273 shares of the company’s stock valued at $314,000 after buying an additional 68,676 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Leap Therapeutics by 111.7% in the 1st 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. Finally, Acadian Asset Management LLC grew its position in shares of Leap Therapeutics by 349.3% in the 1st quarter. Acadian Asset Management LLC now owns 282,413 shares of the company’s stock valued at $750,000 after buying an additional 219,563 shares during the last quarter. 30.46% of the stock is owned by hedge funds and other institutional investors.

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.