Stempoint Capital LP acquired a new stake in shares of LB Pharmaceuticals Inc (NASDAQ:LBRX – Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 50,000 shares of the company’s stock, valued at approximately $1,233,000. Stempoint Capital LP owned approximately 0.17% of LB Pharmaceuticals at the end of the most recent reporting period.
A number of other large investors have also added to or reduced their stakes in the company. California State Teachers Retirement System purchased a new position in shares of LB Pharmaceuticals in the 4th quarter worth approximately $26,000. Bank of America Corp DE purchased a new position in LB Pharmaceuticals in the third quarter worth $27,000. Russell Investments Group Ltd. acquired a new position in shares of LB Pharmaceuticals during the fourth quarter worth $34,000. Strs Ohio purchased a new stake in shares of LB Pharmaceuticals during the 4th quarter valued at $76,000. Finally, Persistent Asset Partners Ltd purchased a new position in LB Pharmaceuticals during the 4th quarter worth $91,000.
LB Pharmaceuticals Stock Performance
NASDAQ LBRX opened at $39.00 on Thursday. The firm has a market capitalization of $1.12 billion and a P/E ratio of -22.54. The stock has a 50-day simple moving average of $30.97 and a two-hundred day simple moving average of $27.41. LB Pharmaceuticals Inc has a fifty-two week low of $13.36 and a fifty-two week high of $39.26.
Wall Street Analysts Forecast Growth
Several equities research analysts have weighed in on the company. Roth Capital reissued a “buy” rating and issued a $37.00 price target on shares of LB Pharmaceuticals in a report on Sunday, May 17th. Weiss Ratings upgraded shares of LB Pharmaceuticals from a “sell (d-)” rating to a “sell (d+)” rating in a research note on Friday, July 24th. Craig Hallum started coverage on shares of LB Pharmaceuticals in a research note on Friday, April 10th. They set a “buy” rating and a $36.00 price target on the stock. Wolfe Research began coverage on shares of LB Pharmaceuticals in a research note on Tuesday, July 7th. They set an “outperform” rating and a $45.00 price objective for the company. Finally, HC Wainwright reissued a “buy” rating on shares of LB Pharmaceuticals in a research report on Friday, July 24th. Two research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $40.43.
Check Out Our Latest Stock Report on LBRX
LB Pharmaceuticals Profile
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. LB-102 is a new chemical entity and a methylated derivative of amisulpride, a second-generation antipsychotic drug approved in over 50 countries, not including the United States, because the development and regulatory requirements of the U.S.
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