Wall Street Zen upgraded shares of LB Pharmaceuticals (NASDAQ:LBRX – Free Report) from a strong sell rating to a sell rating in a report released on Saturday morning,Wall Street Zen reports.
Several other research analysts have also recently issued reports on the company. BMO Capital Markets increased their price target on LB Pharmaceuticals from $46.00 to $54.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 12th. Piper Sandler restated an “overweight” rating and set a $78.00 price objective on shares of LB Pharmaceuticals in a research note on Monday, August 3rd. Canaccord Genuity Group started coverage on shares of LB Pharmaceuticals in a report on Friday, October 9th. They issued a “buy” rating and a $65.00 price objective for the company. Zacks Research downgraded shares of LB Pharmaceuticals from a “hold” rating to a “strong sell” rating in a report on Monday, October 12th. Finally, Weiss Ratings lowered shares of LB Pharmaceuticals from a “sell (d+)” rating to a “sell (d)” rating in a research report on Tuesday, August 11th. Ten research analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $57.40.
Check Out Our Latest Stock Analysis on LBRX
LB Pharmaceuticals Price Performance
LBRX opened at $39.04 on Friday. LB Pharmaceuticals has a 12 month low of $14.32 and a 12 month high of $50.16. The stock has a market cap of $1.26 billion and a P/E ratio of -11.35. The stock’s 50 day moving average price is $41.20 and its 200 day moving average price is $32.55.
LB Pharmaceuticals (NASDAQ:LBRX – Get Free Report) last announced its earnings results on Tuesday, August 11th. The company reported ($1.71) earnings per share for the quarter, missing the consensus estimate of ($0.84) by ($0.87). Equities analysts anticipate that LB Pharmaceuticals will post -5.70 EPS for the current year.
Institutional Trading of LB Pharmaceuticals
A number of hedge funds and other institutional investors have recently modified their holdings of the company. Spruce Street Capital LP boosted its stake in LB Pharmaceuticals by 36.9% during the first quarter. Spruce Street Capital LP now owns 1,376,159 shares of the company’s stock valued at $33,645,000 after buying an additional 370,566 shares in the last quarter. Eversept Partners LP acquired a new position in LB Pharmaceuticals during the first quarter worth about $2,471,000. Janus Henderson Group PLC bought a new stake in LB Pharmaceuticals in the first quarter worth about $1,613,000. Wellington Management Group LLP raised its position in LB Pharmaceuticals by 11.9% in the second quarter. Wellington Management Group LLP now owns 58,891 shares of the company’s stock worth $1,911,000 after acquiring an additional 6,251 shares in the last quarter. Finally, Bank of New York Mellon Corp acquired a new stake in LB Pharmaceuticals in the 2nd quarter valued at about $1,784,000.
LB Pharmaceuticals Company Profile
LB Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company focused on developing treatments for neuropsychiatric disorders. The company’s lead product candidate, LB-102, is an investigational oral therapy being developed for schizophrenia and potentially other conditions involving serious disturbances in mood, thought and behavior.
LB-102 is designed as a prodrug of amisulpride, an antipsychotic compound that has been approved in certain markets outside the United States but is not approved by the U.S.
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