LB Pharmaceuticals Inc (NASDAQ:LBRX) Receives Consensus Rating of “Buy” from Brokerages

LB Pharmaceuticals Inc (NASDAQ:LBRX) has received a consensus recommendation of “Buy” from the five research firms that are presently covering the company, Marketbeat reports. One analyst has rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $30.50.

A number of brokerages have recently issued reports on LBRX. Leerink Partnrs raised shares of LB Pharmaceuticals to a “strong-buy” rating in a research report on Monday, October 6th. Wall Street Zen raised shares of LB Pharmaceuticals to a “hold” rating in a research report on Monday, September 22nd. Stifel Nicolaus started coverage on shares of LB Pharmaceuticals in a research report on Monday, October 6th. They set a “buy” rating and a $27.00 price objective for the company. Leerink Partners started coverage on shares of LB Pharmaceuticals in a research note on Monday, October 6th. They set an “outperform” rating and a $34.00 target price on the stock. Finally, Zacks Research upgraded shares of LB Pharmaceuticals to a “hold” rating in a research note on Tuesday, October 7th.

Insider Buying and Selling at LB Pharmaceuticals

In other news, Director Ran Nussbaum bought 1,000,000 shares of the stock in a transaction that occurred on Friday, September 12th. The shares were bought at an average price of $15.00 per share, for a total transaction of $15,000,000.00. Following the purchase, the director owned 1,411,681 shares in the company, valued at $21,175,215. This represents a 242.91% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this link.

LB Pharmaceuticals Price Performance

Shares of LBRX stock opened at $16.52 on Thursday. LB Pharmaceuticals has a 1 year low of $13.36 and a 1 year high of $20.25.

About LB Pharmaceuticals

We are a clinical-stage biopharmaceutical company developing novel therapies for the treatment of schizophrenia, bipolar depression, and other neuropsychiatric diseases. We are building a pipeline that leverages the broad therapeutic potential of our lead product candidate, LB-102, which we believe has the potential to be the first benzamide antipsychotic drug approved for neuropsychiatric disorders in the United States.