LB Pharmaceuticals (NASDAQ:LBRX) Hits New 1-Year High – Should You Buy?

LB Pharmaceuticals Inc (NASDAQ:LBRXGet Free Report)’s stock price hit a new 52-week high during trading on Monday . The stock traded as high as $41.71 and last traded at $41.7930, with a volume of 45036 shares changing hands. The stock had previously closed at $40.08.

Wall Street Analysts Forecast Growth

LBRX has been the subject of several analyst reports. Weiss Ratings raised shares of LB Pharmaceuticals from a “sell (d-)” rating to a “sell (d+)” rating in a research note on Friday, July 24th. BMO Capital Markets assumed coverage on LB Pharmaceuticals in a research note on Monday, July 20th. They set an “outperform” rating and a $46.00 target price on the stock. Craig Hallum initiated coverage on LB Pharmaceuticals in a report on Friday, April 10th. They issued a “buy” rating and a $36.00 price target on the stock. Wall Street Zen raised LB Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Sunday, June 21st. Finally, Roth Capital restated a “buy” rating and set a $37.00 price objective on shares of LB Pharmaceuticals in a report on Sunday, May 17th. Two analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $45.12.

View Our Latest Report on LB Pharmaceuticals

LB Pharmaceuticals Stock Performance

The company has a market cap of $1.29 billion and a P/E ratio of -26.01. The business’s fifty day moving average is $32.10 and its two-hundred day moving average is $28.05.

LB Pharmaceuticals (NASDAQ:LBRXGet Free Report) last issued its earnings results on Tuesday, May 12th. The company reported ($0.67) EPS for the quarter, topping analysts’ consensus estimates of ($0.75) by $0.08. Analysts expect that LB Pharmaceuticals Inc will post -3.58 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of LBRX. California State Teachers Retirement System bought a new position in shares of LB Pharmaceuticals during the 4th quarter worth $26,000. Russell Investments Group Ltd. bought a new stake in shares of LB Pharmaceuticals in the fourth quarter valued at about $34,000. Bank of America Corp DE bought a new stake in shares of LB Pharmaceuticals in the third quarter valued at about $27,000. Strs Ohio purchased a new stake in LB Pharmaceuticals in the fourth quarter worth about $76,000. Finally, Persistent Asset Partners Ltd bought a new position in LB Pharmaceuticals during the 4th quarter worth about $91,000.

LB Pharmaceuticals Company Profile

(Get Free Report)

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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