Analysts Set LB Pharmaceuticals Inc (NASDAQ:LBRX) Target Price at $35.25

LB Pharmaceuticals Inc (NASDAQ:LBRX) has received an average recommendation of “Moderate Buy” from the eight ratings firms that are covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, one has given a hold recommendation, four have assigned a buy recommendation and two have issued a strong buy recommendation on the company. The average 12-month price objective among brokers that have covered the stock in the last year is $37.20.

A number of equities research analysts recently issued reports on LBRX shares. Roth Mkm started coverage on LB Pharmaceuticals in a research report on Friday, January 9th. They issued a “buy” rating and a $31.00 price objective on the stock. Stifel Nicolaus increased their price objective on LB Pharmaceuticals from $35.00 to $40.00 and gave the stock a “buy” rating in a research report on Friday, March 27th. HC Wainwright started coverage on LB Pharmaceuticals in a research report on Monday, April 27th. They issued a “buy” rating and a $45.00 price objective on the stock. Finally, Craig Hallum started coverage on LB Pharmaceuticals in a research report on Friday, April 10th. They issued a “buy” rating and a $36.00 price objective on the stock.

Institutional Investors Weigh In On LB Pharmaceuticals

Large investors have recently added to or reduced their stakes in the company. California State Teachers Retirement System purchased a new stake in LB Pharmaceuticals during the fourth quarter valued at about $26,000. Russell Investments Group Ltd. purchased a new stake in LB Pharmaceuticals during the fourth quarter valued at about $34,000. Bank of America Corp DE purchased a new stake in LB Pharmaceuticals during the third quarter valued at about $27,000. Strs Ohio purchased a new stake in LB Pharmaceuticals during the fourth quarter valued at about $76,000. Finally, Persistent Asset Partners Ltd purchased a new stake in LB Pharmaceuticals during the fourth quarter valued at about $91,000.

LB Pharmaceuticals Stock Performance

Shares of LBRX stock opened at $31.43 on Monday. LB Pharmaceuticals has a 52-week low of $13.36 and a 52-week high of $33.47. The company has a market capitalization of $901.41 million and a PE ratio of -29.65. The business’s fifty day moving average is $26.12 and its 200 day moving average is $21.84.

LB Pharmaceuticals (NASDAQ:LBRX) last issued its quarterly earnings data on Thursday, March 26th. The company reported ($0.45) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.45). On average, sell-side analysts forecast that LB Pharmaceuticals will post -3.79 EPS for the current fiscal year.

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.