Calamos Advisors LLC Takes Position in LB Pharmaceuticals Inc $LBRX

Calamos Advisors LLC purchased a new position in LB Pharmaceuticals Inc (NASDAQ:LBRX) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 24,063 shares of the company’s stock, valued at approximately $593,000.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Deep Track Capital LP bought a new stake in LB Pharmaceuticals during the 3rd quarter valued at approximately $52,941,000. RA Capital Management L.P. bought a new position in shares of LB Pharmaceuticals in the 3rd quarter worth approximately $28,058,000. TCG Crossover Management LLC purchased a new position in shares of LB Pharmaceuticals in the 3rd quarter valued at approximately $27,554,000. JPMorgan Chase & Co. purchased a new position in shares of LB Pharmaceuticals in the 3rd quarter valued at approximately $16,305,000. Finally, Spruce Street Capital LP bought a new stake in shares of LB Pharmaceuticals during the fourth quarter valued at approximately $22,384,000.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Craig Hallum began coverage on LB Pharmaceuticals in a research note on Friday, April 10th. They issued a “buy” rating and a $36.00 price target on the stock. HC Wainwright restated a “buy” rating on shares of LB Pharmaceuticals in a report on Monday, June 22nd. Roth Capital reiterated a “buy” rating and issued a $37.00 price target on shares of LB Pharmaceuticals in a research note on Sunday, May 17th. Weiss Ratings raised shares of LB Pharmaceuticals from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday, June 11th. Finally, Wolfe Research began coverage on shares of LB Pharmaceuticals in a research note on Tuesday, July 7th. They set an “outperform” rating and a $45.00 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, LB Pharmaceuticals currently has an average rating of “Moderate Buy” and a consensus target price of $39.50.

LB Pharmaceuticals Stock Performance

Shares of NASDAQ:LBRX opened at $30.59 on Friday. The firm has a market cap of $877.32 million and a price-to-earnings ratio of -17.68. The business has a 50-day simple moving average of $30.24 and a two-hundred day simple moving average of $26.58. LB Pharmaceuticals Inc has a fifty-two week low of $13.36 and a fifty-two week high of $35.35.

LB Pharmaceuticals (NASDAQ:LBRX) last announced its quarterly earnings results on Tuesday, May 12th. The company reported ($0.67) EPS for the quarter, topping analysts’ consensus estimates of ($0.75) by $0.08. As a group, research analysts predict that LB Pharmaceuticals Inc will post -3.58 earnings per share for the current year.

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.