Wall Street Zen downgraded shares of LB Pharmaceuticals (NASDAQ:LBRX – Free Report) from a sell rating to a strong sell rating in a report published on Sunday,Wall Street Zen reports.
Several other brokerages have also commented on LBRX. BMO Capital Markets increased their price target on shares of LB Pharmaceuticals from $46.00 to $54.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 12th. Zacks Research cut shares of LB Pharmaceuticals from a “hold” rating to a “strong sell” rating in a report on Monday, October 12th. Raymond James Financial raised shares of LB Pharmaceuticals to a “buy” rating in a research report on Monday, October 12th. Canaccord Genuity Group started coverage on shares of LB Pharmaceuticals in a research report on Friday, October 9th. They set a “buy” rating and a $65.00 target price on the stock. Finally, Stifel Nicolaus set a $53.00 target price on LB Pharmaceuticals in a report on Thursday, August 13th. Ten equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $57.40.
View Our Latest Analysis on LB Pharmaceuticals
LB Pharmaceuticals Stock Performance
Shares of NASDAQ LBRX opened at $42.01 on Friday. The stock has a market cap of $1.36 billion, a price-to-earnings ratio of -9.09 and a beta of 0.82. The business has a 50 day simple moving average of $40.57 and a 200 day simple moving average of $32.95. LB Pharmaceuticals has a 52 week low of $14.32 and a 52 week high of $50.16.
LB Pharmaceuticals (NASDAQ:LBRX – Get Free Report) last issued its quarterly earnings data on Thursday, November 5th. The company reported ($1.79) earnings per share for the quarter, missing the consensus estimate of ($1.61) by ($0.18). On average, analysts predict that LB Pharmaceuticals will post -5.70 EPS for the current year.
Hedge Funds Weigh In On LB Pharmaceuticals
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Spruce Street Capital LP grew its stake in LB Pharmaceuticals by 36.9% in the 1st 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 during the last quarter. Janus Henderson Group PLC bought a new position in LB Pharmaceuticals in the 1st quarter worth $1,613,000. Bank of New York Mellon Corp acquired a new position in LB Pharmaceuticals during the 2nd quarter worth $1,784,000. Stempoint Capital LP acquired a new position in LB Pharmaceuticals during the 1st quarter worth $1,233,000. Finally, Eversept Partners LP bought a new stake in LB Pharmaceuticals during the first quarter valued at about $2,471,000.
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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