LB Pharmaceuticals (NASDAQ:LBRX – Get Free Report) was downgraded by research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued on Saturday.
Several other equities analysts have also issued reports on the stock. Piper Sandler restated an “overweight” rating and issued a $78.00 target price on shares of LB Pharmaceuticals in a report on Monday, August 3rd. HC Wainwright reissued a “buy” rating and issued a $45.00 price objective on shares of LB Pharmaceuticals in a research report on Monday, August 3rd. Weiss Ratings downgraded LB Pharmaceuticals from a “sell (d+)” rating to a “sell (d)” rating in a research note on Tuesday, August 11th. Roth Capital restated a “buy” rating and set a $37.00 target price on shares of LB Pharmaceuticals in a research report on Sunday, May 17th. Finally, BMO Capital Markets raised their target price on LB Pharmaceuticals from $46.00 to $54.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 12th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $47.75.
Get Our Latest Stock Report on LBRX
LB Pharmaceuticals Stock Performance
LB Pharmaceuticals (NASDAQ:LBRX – Get Free Report) last posted its quarterly earnings data on Tuesday, August 11th. The company reported ($1.71) EPS for the quarter, missing analysts’ consensus estimates of ($0.84) by ($0.87). As a group, equities research analysts predict that LB Pharmaceuticals will post -4.67 EPS for the current fiscal year.
Institutional Investors Weigh In On LB Pharmaceuticals
Hedge funds and other institutional investors have recently bought and sold shares of the stock. California State Teachers Retirement System acquired a new position in shares of LB Pharmaceuticals during the fourth quarter valued at about $26,000. Jane Street Group LLC grew its stake in shares of LB Pharmaceuticals by 4.6% in the 4th quarter. Jane Street Group LLC now owns 31,733 shares of the company’s stock valued at $706,000 after buying an additional 1,388 shares during the period. Russell Investments Group Ltd. acquired a new stake in shares of LB Pharmaceuticals in the 4th quarter valued at about $34,000. Bank of America Corp DE bought a new stake in LB Pharmaceuticals in the 3rd quarter valued at about $27,000. Finally, Strs Ohio raised its stake in LB Pharmaceuticals by 50.0% during the 1st quarter. Strs Ohio now owns 5,100 shares of the company’s stock worth $126,000 after buying an additional 1,700 shares during the period.
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. 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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