Zacks Investment Research Upgrades Liminal BioSciences (NASDAQ:LMNL) to Buy

Liminal BioSciences (NASDAQ:LMNLGet Rating) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Tuesday, Zacks.com reports. The brokerage presently has a $1.00 price objective on the stock. Zacks Investment Research‘s target price points to a potential upside of 11.25% from the stock’s previous close.

According to Zacks, “Liminal BioSciences Inc. is a biotechnology company. It engages in discovering, developing and commercializing novel small molecule compounds for respiratory, liver and renal diseases. The company’s product pipeline consists of PBI-4050, which are in clinical stage. Liminal BioSciences Inc., formerly known as Prometic Life Sciences Inc., is based in Laval, Canada. “

LMNL opened at $0.90 on Tuesday. The company has a market cap of $27.90 million, a PE ratio of 1.70 and a beta of 1.58. The stock has a 50-day moving average of $0.90 and a 200-day moving average of $1.24. Liminal BioSciences has a 52-week low of $0.80 and a 52-week high of $6.30. The company has a debt-to-equity ratio of 1.58, a quick ratio of 6.20 and a current ratio of 6.20.

Liminal BioSciences (NASDAQ:LMNLGet Rating) last announced its earnings results on Thursday, March 17th. The company reported ($0.23) earnings per share for the quarter, missing the consensus estimate of ($0.17) by ($0.06). Liminal BioSciences had a net margin of 3,107.45% and a negative return on equity of 514.74%. The business had revenue of $0.19 million for the quarter. On average, research analysts predict that Liminal BioSciences will post -0.89 earnings per share for the current year.

A number of large investors have recently made changes to their positions in LMNL. National Bank of Canada FI acquired a new position in Liminal BioSciences in the 4th quarter valued at approximately $83,000. Renaissance Technologies LLC acquired a new position in Liminal BioSciences in the 4th quarter valued at approximately $139,000. Morgan Stanley raised its holdings in Liminal BioSciences by 145.4% in the 2nd quarter. Morgan Stanley now owns 21,641 shares of the company’s stock valued at $84,000 after acquiring an additional 12,824 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in Liminal BioSciences by 59.0% in the 3rd quarter. Geode Capital Management LLC now owns 22,737 shares of the company’s stock valued at $52,000 after acquiring an additional 8,436 shares in the last quarter. Hedge funds and other institutional investors own 0.78% of the company’s stock.

Liminal BioSciences Company Profile (Get Rating)

Liminal BioSciences Inc, a clinical-stage biopharmaceutical company, focuses on discovery, development, and commercialization of novel small molecule drug candidates for the treatment of patients suffering from respiratory fibrotic diseases and other fibrotic or inflammatory diseases that have high unmet medical needs.

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