LB Pharmaceuticals (NASDAQ:LBRX) Research Coverage Started at Guggenheim

Guggenheim assumed coverage on shares of LB Pharmaceuticals (NASDAQ:LBRX) in a research note published on Tuesday morning, Marketbeat.com reports. The brokerage issued a buy rating and a $80.00 price objective on the stock.

A number of other research analysts have also recently weighed in on the stock. Piper Sandler reiterated an “overweight” rating and issued a $78.00 target price on shares of LB Pharmaceuticals in a research note on Monday, August 3rd. Wall Street Zen cut shares of LB Pharmaceuticals from a “sell” rating to a “strong sell” rating in a report on Saturday, October 3rd. Roth Capital downgraded LB Pharmaceuticals from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $37.00 to $35.00 in a research note on Monday. Weiss Ratings lowered LB Pharmaceuticals from a “sell (d+)” rating to a “sell (d)” rating in a report on Tuesday, August 11th. Finally, BMO Capital Markets boosted their target price on LB Pharmaceuticals from $46.00 to $54.00 and gave the company an “outperform” rating in a research note on Wednesday, August 12th. Eight investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $56.56.

LB Pharmaceuticals Price Performance

Shares of LB Pharmaceuticals stock opened at $34.61 on Tuesday. The firm has a market cap of $1.12 billion and a PE ratio of -10.06. LB Pharmaceuticals has a 1 year low of $14.32 and a 1 year high of $50.16. The stock has a fifty day moving average price of $43.92 and a 200-day moving average price of $34.85.

LB Pharmaceuticals (NASDAQ:LBRX) last issued its quarterly earnings results on Tuesday, August 11th. The company reported ($1.71) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.84) by ($0.87). As a group, equities analysts anticipate that LB Pharmaceuticals will post -5.7 EPS for the current fiscal year.

Hedge Funds Weigh In On LB Pharmaceuticals

A number of large investors have recently modified their holdings of LBRX. Strs Ohio grew its position in shares of LB Pharmaceuticals by 50.0% during the 1st quarter. Strs Ohio now owns 5,100 shares of the company’s stock valued at $126,000 after purchasing an additional 1,700 shares in the last quarter. Meyer Handelman Co. bought a new position in LB Pharmaceuticals in the 1st quarter worth about $372,000. Calamos Advisors LLC purchased a new stake in shares of LB Pharmaceuticals in the 1st quarter valued at about $593,000. Great Lakes Advisors LLC bought a new stake in shares of LB Pharmaceuticals during the 2nd quarter valued at about $987,000. Finally, Bank of New York Mellon Corp grew its holdings in shares of LB Pharmaceuticals by 12.2% during the first quarter. Bank of New York Mellon Corp now owns 45,457 shares of the company’s stock worth $1,121,000 after purchasing an additional 4,940 shares in the last quarter.

LB Pharmaceuticals Company Profile

LB Pharmaceuticals is a clinical-stage biopharmaceutical company focused on developing treatments for central nervous system and neuropsychiatric disorders. The company’s lead product candidate is LB-102, an oral prodrug of amisulpride, an established antipsychotic medicine that is approved in certain countries outside the United States but is not currently approved in the U.S.

LB-102 is being developed for the treatment of schizophrenia, with the company seeking to evaluate its potential to address the needs of patients and healthcare providers in the U.S.