LB Pharmaceuticals (NASDAQ:LBRX) Hits New 52-Week High – What’s Next?

LB Pharmaceuticals Inc (NASDAQ:LBRX) reached a new 52-week high during trading on Thursday . The company traded as high as $23.73 and last traded at $23.25, with a volume of 96854 shares. The stock had previously closed at $21.72.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Piper Sandler started coverage on shares of LB Pharmaceuticals in a research report on Monday, October 6th. They issued an “overweight” rating for the company. Roth Mkm began coverage on LB Pharmaceuticals in a report on Friday, January 9th. They issued a “buy” rating and a $31.00 price target for the company. Stifel Nicolaus raised their price objective on LB Pharmaceuticals from $27.00 to $35.00 and gave the stock a “buy” rating in a report on Thursday, December 11th. Weiss Ratings reiterated a “sell (e)” rating on shares of LB Pharmaceuticals in a report on Monday, December 29th. Finally, Zacks Research upgraded LB Pharmaceuticals to a “hold” rating in a research note on Tuesday, October 7th. One equities research 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 assigned a Sell rating to the company. Based on data from MarketBeat, LB Pharmaceuticals currently has a consensus rating of “Moderate Buy” and a consensus price target of $33.33.

LB Pharmaceuticals Trading Up 8.6%

The business’s 50-day moving average price is $19.50. The company has a market capitalization of $596.57 million and a P/E ratio of -38.66.

LB Pharmaceuticals (NASDAQ:LBRX) last released its quarterly earnings results on Thursday, November 6th. The company reported ($0.61) EPS for the quarter, missing the consensus estimate of ($0.57) by ($0.04).

Institutional Trading of LB Pharmaceuticals

A number of institutional investors have recently made changes to their positions in LBRX. SG Americas Securities LLC purchased a new position in LB Pharmaceuticals during the 4th quarter worth $143,000. JPMorgan Chase & Co. purchased a new stake in shares of LB Pharmaceuticals during the third quarter worth about $16,305,000. Hudson Bay Capital Management LP acquired a new position in shares of LB Pharmaceuticals during the third quarter valued at about $428,000. TCG Crossover Management LLC acquired a new stake in LB Pharmaceuticals in the 3rd quarter worth approximately $27,554,000. Finally, Alyeska Investment Group L.P. purchased a new stake in LB Pharmaceuticals during the 3rd quarter worth approximately $10,658,000.

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.