Is there any upside left in ltrn stock
8/27/2024 02:53pm
The upside potential for Lantern Pharma (LTRN) stock can be assessed by considering various indicators:
1. **Technical Analysis**: The stock's closing price as of August 26, 2024, was $4.65, which is below both the resistance level of $4.73 and the average analyst price target of $26.00. This suggests a significant potential upside.
2. **Analyst Ratings and Price Targets**: Despite the lack of specific average price target and consensus rating information for LTRN, historical data indicates a high price target of $26.00, which is substantially higher than the current price. This suggests that analysts have anticipated a strong upside potential.
3. **Market Sentiment**: The stock has a Smart Score of 2, indicating a mixed market sentiment. However, the recent updates on Lantern Pharma's clinical trials and patents could influence investor sentiment positively.
4. **Financial Health**: Lantern Pharma has a negative EPS estimate of -$0.56, which could be a concern for some investors. However, the company's total cash position stands at $33.26 million, which may provide financial stability.
In conclusion, given the current price relative to the resistance level and the average analyst price target, as well as the company's financial position, there is likely to be an upside in LTRN stock. However, investors should also consider the risks associated with the stock's performance and the company's future prospects before making investment decisions.