LB Pharmaceuticals Inc’s (NASDAQ:LBRX) Lock-Up Period Will Expire on March 10th

LB Pharmaceuticals’ (NASDAQ:LBRX) lock-up period will expire on Tuesday, March 10th. LB Pharmaceuticals had issued 19,000,000 shares in its IPO on September 11th. The total size of the offering was $285,000,000 based on an initial share price of $15.00. After the end of the company’s lock-up period, major shareholders and company insiders will be able to sell their shares of the company.

Wall Street Analyst Weigh In

LBRX has been the subject of a number of research reports. Stifel Nicolaus upped their price objective on LB Pharmaceuticals from $27.00 to $35.00 and gave the company a “buy” rating in a research report on Thursday, December 11th. Roth Mkm started coverage on LB Pharmaceuticals in a research report on Friday, January 9th. They issued a “buy” rating and a $31.00 target price on the stock. Finally, Weiss Ratings reiterated a “sell (e)” rating on shares of LB Pharmaceuticals in a research note on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $33.33.

LB Pharmaceuticals Stock Up 1.0%

Shares of LB Pharmaceuticals stock opened at $23.78 on Friday. LB Pharmaceuticals has a 1-year low of $13.36 and a 1-year high of $25.60. The stock’s fifty day simple moving average is $22.49. The stock has a market cap of $601.63 million and a PE ratio of -38.98.

Institutional Trading of LB Pharmaceuticals

Hedge funds and other institutional investors have recently bought and sold shares of the stock. JPMorgan Chase & Co. purchased a new position in shares of LB Pharmaceuticals during the 3rd quarter valued at about $16,305,000. Monashee Investment Management LLC bought a new stake in LB Pharmaceuticals during the 3rd quarter worth approximately $632,000. Federated Hermes Inc. bought a new stake in LB Pharmaceuticals during the 3rd quarter worth approximately $142,000. Jennison Associates LLC lifted its holdings in LB Pharmaceuticals by 11.2% during the fourth 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. Finally, SG Americas Securities LLC bought a new position in shares of LB Pharmaceuticals in the fourth quarter worth approximately $143,000.

About LB Pharmaceuticals

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.