Leap Therapeutics (NASDAQ:LPTX) Downgraded by Zacks Investment Research

Zacks Investment Research lowered shares of Leap Therapeutics (NASDAQ:LPTX) from a hold rating to a sell rating in a research note 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. “

NASDAQ:LPTX opened at $1.95 on Wednesday. Leap Therapeutics has a 12 month low of $1.35 and a 12 month high of $8.75. The business’s fifty day moving average is $1.69. The company has a quick ratio of 2.77, a current ratio of 2.77 and a debt-to-equity ratio of 0.05. The firm has a market capitalization of $46.59 million, a P/E ratio of -0.78 and a beta of 2.33.

Leap Therapeutics (NASDAQ:LPTX) last posted its quarterly earnings data on Wednesday, May 15th. The company reported ($0.47) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.41) by ($0.06). As a group, research analysts forecast that Leap Therapeutics will post -1.62 earnings per share for the current fiscal year.

A hedge fund recently raised its stake in Leap Therapeutics stock. FMR LLC raised its position 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 SEC. The institutional investor owned 1,563,124 shares of the company’s stock after acquiring an additional 606,000 shares during the quarter. FMR LLC owned approximately 6.81% of Leap Therapeutics worth $2,923,000 at the end of the most recent quarter. Institutional investors and hedge funds own 9.17% of the company’s stock.

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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