LB Pharmaceuticals (NASDAQ:LBRX) Stock Price Up 8.2% – What’s Next?

Shares of LB Pharmaceuticals Inc (NASDAQ:LBRX) rose 8.2% during trading on Wednesday . The company traded as high as $38.00 and last traded at $37.7950. 95,556 shares changed hands during trading, a decline of 62% from the average daily volume of 249,791 shares. The stock had previously closed at $34.94.

Wall Street Analysts Forecast Growth

LBRX has been the topic of several recent research reports. Craig Hallum started coverage on shares of LB Pharmaceuticals in a research report on Friday, April 10th. They set a “buy” rating and a $36.00 target price on the stock. BMO Capital Markets initiated coverage on shares of LB Pharmaceuticals in a research report on Monday, July 20th. They set an “outperform” rating and a $46.00 price target on the stock. Roth Capital restated a “buy” rating and set a $37.00 target price on shares of LB Pharmaceuticals in a research report on Sunday, May 17th. Wolfe Research initiated coverage on LB Pharmaceuticals in a research note on Tuesday, July 7th. They set an “outperform” rating and a $45.00 target price for the company. Finally, Wall Street Zen raised LB Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Sunday, June 21st. Two analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, LB Pharmaceuticals currently has a consensus rating of “Moderate Buy” and a consensus price target of $40.43.

LB Pharmaceuticals Price Performance

The firm has a market capitalization of $1.07 billion and a price-to-earnings ratio of -21.58. The business’s fifty day simple moving average is $30.75 and its 200 day simple moving average is $27.28.

LB Pharmaceuticals (NASDAQ:LBRX) last announced its quarterly earnings data on Tuesday, May 12th. The company reported ($0.67) earnings per share for the quarter, beating the consensus estimate of ($0.75) by $0.08. Equities research analysts expect that LB Pharmaceuticals Inc will post -3.58 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. California State Teachers Retirement System bought a new stake in shares of LB Pharmaceuticals during the fourth quarter valued at approximately $26,000. Bank of America Corp DE bought a new position in shares of LB Pharmaceuticals in the 3rd quarter worth $27,000. Russell Investments Group Ltd. bought a new position in shares of LB Pharmaceuticals in the 4th quarter worth $34,000. Strs Ohio acquired a new stake in LB Pharmaceuticals in the 4th quarter valued at $76,000. Finally, Persistent Asset Partners Ltd bought a new stake in LB Pharmaceuticals during the 4th quarter valued at $91,000.

LB Pharmaceuticals Company Profile

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.