LB Pharmaceuticals (NASDAQ:LBRX) Shares Up 3.8% – Time to Buy?

Shares of LB Pharmaceuticals Inc (NASDAQ:LBRX) were up 3.8% during mid-day trading on Wednesday . The company traded as high as $22.32 and last traded at $22.32. Approximately 105,302 shares traded hands during trading, a decline of 57% from the average daily volume of 244,531 shares. The stock had previously closed at $21.50.

Analyst Upgrades and Downgrades

LBRX has been the subject of a number of research analyst reports. Stifel Nicolaus increased their price target on LB Pharmaceuticals from $27.00 to $35.00 and gave the company a “buy” rating in a research note on Thursday, December 11th. Leerink Partnrs upgraded shares of LB Pharmaceuticals to a “strong-buy” rating in a research note on Monday, October 6th. Zacks Research raised shares of LB Pharmaceuticals to a “hold” rating in a report on Tuesday, October 7th. Weiss Ratings reissued a “sell (e)” rating on shares of LB Pharmaceuticals in a report on Monday. Finally, Wall Street Zen upgraded LB Pharmaceuticals to a “hold” rating in a research note on Monday, September 22nd. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $34.50.

LB Pharmaceuticals Stock Performance

The firm’s fifty day simple moving average is $17.97.

LB Pharmaceuticals (NASDAQ:LBRX) last announced its earnings results on Thursday, November 6th. The company reported ($0.61) earnings per share for the quarter, missing the consensus estimate of ($0.57) by ($0.04).

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Federated Hermes Inc. bought a new stake in shares of LB Pharmaceuticals during the 3rd quarter valued at $142,000. JPMorgan Chase & Co. bought a new position in LB Pharmaceuticals during the third quarter worth about $16,305,000. TD Asset Management Inc acquired a new position in shares of LB Pharmaceuticals during the 3rd quarter worth about $581,000. Monashee Investment Management LLC acquired a new stake in shares of LB Pharmaceuticals in the 3rd quarter valued at approximately $632,000. Finally, Jefferies Financial Group Inc. bought a new position in LB Pharmaceuticals during the 3rd quarter worth approximately $207,000.

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.