Shares of LB Pharmaceuticals Inc (NASDAQ:LBRX – Get Free Report) dropped 5.4% during mid-day trading on Monday after Roth Capital downgraded the stock from a buy rating to a neutral rating. Roth Capital now has a $35.00 price target on the stock, down from their previous price target of $37.00. LB Pharmaceuticals traded as low as $35.08 and last traded at $35.0050. 311,784 shares were traded during mid-day trading, an increase of 12% from the average daily volume of 277,335 shares. The stock had previously closed at $36.99.
A number of other research analysts have also recently commented on LBRX. Wolfe Research assumed coverage on LB Pharmaceuticals in a research report on Tuesday, July 7th. They set an “outperform” rating and a $45.00 price target on the stock. Wall Street Zen lowered LB Pharmaceuticals from a “sell” rating to a “strong sell” rating in a report on Saturday. Piper Sandler restated an “overweight” rating and issued a $78.00 price objective on shares of LB Pharmaceuticals in a research note on Monday, August 3rd. Stifel Nicolaus set a $53.00 target price on shares of LB Pharmaceuticals in a research report on Thursday, August 13th. Finally, Weiss Ratings downgraded shares of LB Pharmaceuticals from a “sell (d+)” rating to a “sell (d)” rating in a research note on Tuesday, August 11th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $51.44.
View Our Latest Stock Report on LBRX
Institutional Trading of LB Pharmaceuticals
LB Pharmaceuticals Trading Down 5.4%
The firm has a market cap of $1.13 billion and a P/E ratio of -10.17. The stock’s fifty day moving average is $44.16 and its two-hundred day moving average is $34.56.
LB Pharmaceuticals (NASDAQ:LBRX – Get Free Report) last announced its quarterly earnings results on Tuesday, August 11th. The company reported ($1.71) EPS for the quarter, missing the consensus estimate of ($0.84) by ($0.87). On average, analysts forecast that LB Pharmaceuticals Inc will post -5.78 EPS for the current year.
LB Pharmaceuticals Company Profile
LB Pharmaceuticals is a clinical-stage biopharmaceutical company focused on developing treatments for central nervous system and neuropsychiatric disorders. The company’s lead product candidate is LB-102, an oral prodrug of amisulpride, an established antipsychotic medicine that is approved in certain countries outside the United States but is not currently approved in the U.S.
LB-102 is being developed for the treatment of schizophrenia, with the company seeking to evaluate its potential to address the needs of patients and healthcare providers in the U.S.
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