LB Pharmaceuticals (NASDAQ:LBRX) Issues Earnings Results

LB Pharmaceuticals (NASDAQ:LBRXGet Free Report) posted its quarterly earnings results on Tuesday. The company reported ($1.71) EPS for the quarter, missing the consensus estimate of ($0.84) by ($0.87), FiscalAI reports.

LB Pharmaceuticals Stock Performance

Shares of NASDAQ:LBRX traded down $0.51 during trading on Wednesday, reaching $44.82. 64,055 shares of the stock were exchanged, compared to its average volume of 264,542. The firm’s 50-day moving average price is $33.98 and its 200 day moving average price is $28.95. The firm has a market cap of $1.29 billion and a price-to-earnings ratio of -25.91. LB Pharmaceuticals has a 12-month low of $13.36 and a 12-month high of $49.14.

Institutional Investors Weigh In On LB Pharmaceuticals

Several institutional investors have recently bought and sold shares of the business. Spruce Street Capital LP acquired a new position in shares of LB Pharmaceuticals during the 4th quarter valued at $22,384,000. Jennison Associates LLC increased its holdings in LB Pharmaceuticals by 11.2% in the 4th quarter. Jennison Associates LLC now owns 821,852 shares of the company’s stock valued at $18,294,000 after purchasing an additional 82,812 shares in the last quarter. Stempoint Capital LP purchased a new position in LB Pharmaceuticals in the first quarter valued at about $1,233,000. Janus Henderson Group PLC acquired a new position in shares of LB Pharmaceuticals during the first quarter worth about $1,613,000. Finally, Eversept Partners LP purchased a new stake in shares of LB Pharmaceuticals in the first quarter worth about $2,471,000.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on LBRX shares. HC Wainwright reissued a “buy” rating and issued a $45.00 target price on shares of LB Pharmaceuticals in a research report on Monday, August 3rd. Wolfe Research began coverage on shares of LB Pharmaceuticals in a research report on Tuesday, July 7th. They set an “outperform” rating and a $45.00 price target for the company. Roth Capital reaffirmed a “buy” rating and set a $37.00 price target on shares of LB Pharmaceuticals in a research note on Sunday, May 17th. BMO Capital Markets lifted their price target on shares of LB Pharmaceuticals from $46.00 to $54.00 and gave the company an “outperform” rating in a report on Wednesday. Finally, 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. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $46.12.

Check Out Our Latest Research Report on LBRX

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.

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