Lantern Pharma (NASDAQ:LTRN) Earns Buy Rating from Analysts at Lake Street Capital

Lake Street Capital assumed coverage on shares of Lantern Pharma (NASDAQ:LTRN) in a research report released on Wednesday morning,Benzinga reports. The firm issued a buy rating and a $25.00 price objective on the stock.

Lantern Pharma Trading Up 3.3 %

Shares of LTRN stock opened at $3.42 on Wednesday. The stock has a 50 day moving average of $4.22 and a 200 day moving average of $3.77. Lantern Pharma has a twelve month low of $2.79 and a twelve month high of $9.33. The stock has a market cap of $36.88 million, a P/E ratio of -1.92 and a beta of 1.64.

Lantern Pharma (NASDAQ:LTRN) last issued its quarterly earnings data on Thursday, March 27th. The company reported ($0.54) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.51) by ($0.03). On average, research analysts predict that Lantern Pharma will post -1.9 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Sanctuary Advisors LLC purchased a new stake in Lantern Pharma in the 4th quarter worth $32,000. Westside Investment Management Inc. grew its position in shares of Lantern Pharma by 166.5% in the third quarter. Westside Investment Management Inc. now owns 30,650 shares of the company’s stock valued at $112,000 after purchasing an additional 19,150 shares during the period. Voss Capital LP purchased a new stake in shares of Lantern Pharma during the fourth quarter worth about $160,000. Renaissance Technologies LLC raised its position in shares of Lantern Pharma by 3.9% during the 4th quarter. Renaissance Technologies LLC now owns 87,300 shares of the company’s stock worth $278,000 after purchasing an additional 3,300 shares during the last quarter. Finally, CM Management LLC lifted its stake in Lantern Pharma by 8.1% in the 4th quarter. CM Management LLC now owns 200,000 shares of the company’s stock valued at $638,000 after buying an additional 15,000 shares in the last quarter. 28.62% of the stock is owned by institutional investors and hedge funds.

About Lantern Pharma

Lantern Pharma Inc, a clinical stage biotechnology company, focuses on artificial intelligence, machine learning, and genomic data to streamline the drug development process. Its product pipeline comprises LP-300, which is in phase 2 clinical trial in combination therapy for never-smokers with non-small cell lung cancer adenocarcinoma; LP-184, which is in phase 1 clinical trial for the treatment of solid tumor, such as pancreatic, breast, bladder, and lung cancers, and glioblastoma and other central nervous system cancers; and LP-284, which is in phase 1 clinical trial for the treatment of non-Hodgkin's lymphomas, including mantle cell lymphoma and double hit lymphoma.