LB Pharmaceuticals Inc $LBRX Shares Newly Bought by Sigma Planning Corp

Sigma Planning Corp acquired a new position in shares of LB Pharmaceuticals Inc (NASDAQ:LBRX) during the 3rd quarter, HoldingsChannel reports. The firm acquired 30,000 shares of the company’s stock, valued at approximately $1,151,000.

Other large investors have also recently bought and sold shares of the company. Strs Ohio boosted its stake in 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 acquiring an additional 1,700 shares during the period. Calamos Advisors LLC acquired a new position in LB Pharmaceuticals during the 1st quarter valued at approximately $593,000. Great Lakes Advisors LLC acquired a new position in LB Pharmaceuticals during the 2nd quarter valued at approximately $987,000. Bank of New York Mellon Corp grew its stake in LB Pharmaceuticals by 12.2% during the 1st quarter. Bank of New York Mellon Corp now owns 45,457 shares of the company’s stock worth $1,121,000 after buying an additional 4,940 shares during the last quarter. Finally, Stempoint Capital LP bought a new position in LB Pharmaceuticals during the 1st quarter worth $1,233,000.

Wall Street Analyst Weigh In

A number of research firms have issued reports on LBRX. Needham & Company LLC began coverage on LB Pharmaceuticals in a research note on Friday, October 2nd. They issued a “buy” rating and a $68.00 target price on the stock. Wolfe Research started coverage on shares of LB Pharmaceuticals in a research report on Tuesday, July 7th. They set an “outperform” rating and a $45.00 price target for the company. Raymond James Financial raised shares of LB Pharmaceuticals to a “buy” rating in a report on Monday, October 12th. Roth Capital cut shares of LB Pharmaceuticals from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $37.00 to $35.00 in a report on Monday, October 5th. Finally, Stifel Nicolaus set a $53.00 target price on shares of LB Pharmaceuticals in a research note on Thursday, August 13th. Ten analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $57.40.

LB Pharmaceuticals Price Performance

Shares of LBRX stock opened at $40.15 on Friday. LB Pharmaceuticals Inc has a 12-month low of $14.32 and a 12-month high of $50.16. The business has a 50 day simple moving average of $41.53 and a 200 day simple moving average of $32.35.

LB Pharmaceuticals (NASDAQ:LBRX) last announced its earnings results on Tuesday, August 11th. The company reported ($1.71) earnings per share for the quarter, missing the consensus estimate of ($0.84) by ($0.87). Equities research analysts anticipate that LB Pharmaceuticals Inc will post -5.70 EPS for the current year.

LB Pharmaceuticals Company Profile

LB Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company focused on developing treatments for neuropsychiatric disorders. The company’s lead product candidate, LB-102, is an investigational oral therapy being developed for schizophrenia and potentially other conditions involving serious disturbances in mood, thought and behavior.

LB-102 is designed as a prodrug of amisulpride, an antipsychotic compound that has been approved in certain markets outside the United States but is not approved by the U.S.