LB Pharmaceuticals Inc (NASDAQ:LBRX) Receives Average Rating of “Moderate Buy” from Analysts

LB Pharmaceuticals Inc (NASDAQ:LBRX) has earned a consensus rating of “Moderate Buy” from the eight ratings firms that are covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, four have given a buy recommendation and two have given a strong buy recommendation to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $38.40.

A number of brokerages have issued reports on LBRX. Stifel Nicolaus upped their target price on LB Pharmaceuticals from $35.00 to $40.00 and gave the stock a “buy” rating in a report on Friday, March 27th. Craig Hallum began coverage on LB Pharmaceuticals in a report on Friday, April 10th. They issued a “buy” rating and a $36.00 target price for the company. Roth Mkm reaffirmed a “buy” rating and issued a $37.00 target price on shares of LB Pharmaceuticals in a report on Sunday. Finally, HC Wainwright began coverage on LB Pharmaceuticals in a report on Monday, April 27th. They issued a “buy” rating and a $45.00 target price for the company.

LB Pharmaceuticals Stock Down 0.1%

Shares of LBRX opened at $28.00 on Friday. LB Pharmaceuticals has a 12-month low of $13.36 and a 12-month high of $33.47. The business has a 50-day simple moving average of $27.78 and a two-hundred day simple moving average of $23.16. The stock has a market cap of $803.04 million and a PE ratio of -16.18.

LB Pharmaceuticals (NASDAQ:LBRX) last issued its earnings results on Tuesday, May 12th. The company reported ($0.67) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.75) by $0.08. On average, equities research analysts expect that LB Pharmaceuticals will post -3.55 EPS for the current year.

Institutional Investors Weigh In On LB Pharmaceuticals

Several institutional investors and hedge funds have recently made changes to their positions in the stock. California State Teachers Retirement System acquired a new stake in shares of LB Pharmaceuticals in the fourth quarter valued at about $26,000. Jane Street Group LLC increased its stake in shares of LB Pharmaceuticals by 4.6% in the fourth quarter. Jane Street Group LLC now owns 31,733 shares of the company’s stock valued at $706,000 after buying an additional 1,388 shares during the period. Russell Investments Group Ltd. acquired a new stake in shares of LB Pharmaceuticals in the fourth quarter valued at about $34,000. Strs Ohio increased its stake in shares of LB Pharmaceuticals by 50.0% in the first quarter. Strs Ohio now owns 5,100 shares of the company’s stock valued at $126,000 after buying an additional 1,700 shares during the period. Finally, Bank of America Corp DE acquired a new stake in shares of LB Pharmaceuticals in the third quarter valued at about $27,000.

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.