LB Pharmaceuticals Inc (NASDAQ:LBRX) Given Consensus Recommendation of “Moderate Buy” by Brokerages

LB Pharmaceuticals Inc (NASDAQ:LBRXGet Free Report) has been assigned a consensus rating of “Moderate Buy” from the nine analysts that are presently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $39.50.

Several analysts have weighed in on the company. Roth Capital reiterated a “buy” rating and set a $37.00 price target on shares of LB Pharmaceuticals in a research note on Sunday, May 17th. HC Wainwright restated a “buy” rating on shares of LB Pharmaceuticals in a research note on Monday, June 22nd. Stifel Nicolaus lifted their target price on LB Pharmaceuticals from $35.00 to $40.00 and gave the stock a “buy” rating in a report on Friday, March 27th. Wolfe Research started coverage on LB Pharmaceuticals in a research report on Tuesday, July 7th. They issued an “outperform” rating and a $45.00 target price on the stock. Finally, Weiss Ratings upgraded shares of LB Pharmaceuticals from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday, June 11th.

Read Our Latest Research Report on LBRX

Hedge Funds Weigh In On LB Pharmaceuticals

Several large investors have recently made changes to their positions in LBRX. California State Teachers Retirement System purchased a new position in shares of LB Pharmaceuticals during the 4th quarter worth $26,000. Jane Street Group LLC grew its holdings in shares of LB Pharmaceuticals by 4.6% in the fourth quarter. Jane Street Group LLC now owns 31,733 shares of the company’s stock valued at $706,000 after purchasing an additional 1,388 shares during the period. Russell Investments Group Ltd. acquired a new stake in LB Pharmaceuticals during the fourth quarter worth about $34,000. Bank of America Corp DE acquired a new stake in LB Pharmaceuticals during the third quarter worth about $27,000. Finally, Strs Ohio raised its stake in LB Pharmaceuticals by 50.0% during the first quarter. Strs Ohio now owns 5,100 shares of the company’s stock worth $126,000 after purchasing an additional 1,700 shares during the period.

LB Pharmaceuticals Price Performance

Shares of LBRX stock traded down $0.79 during mid-day trading on Friday, hitting $32.95. 186,441 shares of the stock traded hands, compared to its average volume of 348,907. LB Pharmaceuticals has a 52-week low of $13.36 and a 52-week high of $35.35. The stock has a market cap of $945.01 million and a P/E ratio of -19.05. The stock’s fifty day moving average is $30.27 and its two-hundred day moving average is $26.27.

LB Pharmaceuticals (NASDAQ:LBRXGet Free Report) last issued its quarterly earnings data on Tuesday, May 12th. The company reported ($0.67) EPS for the quarter, beating the consensus estimate of ($0.75) by $0.08. As a group, equities analysts forecast that LB Pharmaceuticals will post -3.58 EPS for the current fiscal year.

About LB Pharmaceuticals

(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.

Further Reading

Analyst Recommendations for LB Pharmaceuticals (NASDAQ:LBRX)

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