Zacks: Leap Therapeutics Inc (NASDAQ:LPTX) Receives Average Recommendation of “Strong Buy” from Brokerages

Leap Therapeutics Inc (NASDAQ:LPTX) has been assigned an average broker rating score of 1.00 (Strong Buy) from the two brokers that provide coverage for the stock, Zacks Investment Research reports. Two equities research analysts have rated the stock with a strong buy recommendation. Leap Therapeutics’ rating score has improved by 24.8% in the last three months as a result of a number of analysts’ upgrades and downgrades.

Brokers have set a one year consensus price target of $9.00 for the company and are anticipating that the company will post ($0.40) earnings per share for the current quarter, according to Zacks. Zacks has also assigned Leap Therapeutics an industry rank of 58 out of 256 based on the ratings given to its competitors.

Separately, Zacks Investment Research lowered shares of H&E Equipment Services from a “hold” rating to a “sell” rating in a report on Wednesday.

Shares of Leap Therapeutics stock traded down $0.08 during trading hours on Friday, hitting $1.95. The company’s stock had a trading volume of 316,600 shares, compared to its average volume of 643,657. Leap Therapeutics has a 1-year low of $1.35 and a 1-year high of $8.75. The firm has a fifty day moving average price of $1.69. The firm has a market cap of $45.67 million, a P/E ratio of -0.78 and a beta of 2.33. The company has a quick ratio of 2.77, a current ratio of 2.77 and a debt-to-equity ratio of 0.05.

Leap Therapeutics (NASDAQ:LPTX) last released its quarterly earnings results on Wednesday, May 15th. The company reported ($0.47) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.41) by ($0.06). Analysts anticipate that Leap Therapeutics will post -1.62 EPS for the current year.

A hedge fund recently raised its stake in Leap Therapeutics stock. FMR LLC raised its stake in shares of Leap Therapeutics Inc (NASDAQ:LPTX) by 63.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,563,124 shares of the company’s stock after buying an additional 606,000 shares during the period. FMR LLC owned approximately 6.81% of Leap Therapeutics worth $2,923,000 as of its most recent SEC filing. 9.17% of the stock is owned by institutional investors.

About Leap Therapeutics

Leap Therapeutics, Inc, a biopharmaceutical company, acquires and develops therapies for the treatment of cancer. Its clinical stage programs include DKN-01, a monoclonal antibody that inhibits Dickkopf-related protein 1, which is in Phase I/II clinical trial in patients with esophagogastric, biliary tract, gynecologic, and non-small cell lung cancers, as well as hepatocellular carcinoma, a type of liver cancer.

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