LB Pharmaceuticals (NASDAQ:LBRX) Upgraded to “Strong-Buy” at Roth Capital

LB Pharmaceuticals (NASDAQ:LBRX) was upgraded by equities researchers at Roth Capital to a “strong-buy” rating in a research report issued to clients and investors on Friday,Zacks.com reports.

Other analysts also recently issued research reports about the company. Weiss Ratings reaffirmed a “sell (e)” rating on shares of LB Pharmaceuticals in a research note on Monday, December 29th. Piper Sandler initiated coverage on shares of LB Pharmaceuticals in a research report on Monday, October 6th. They issued an “overweight” rating on the stock. Leerink Partners began coverage on shares of LB Pharmaceuticals in a research report on Monday, October 6th. They set an “outperform” rating and a $34.00 price objective for the company. Stifel Nicolaus lifted their price objective on shares of LB Pharmaceuticals from $27.00 to $35.00 and gave the stock a “buy” rating in a research note on Thursday, December 11th. Finally, Wall Street Zen upgraded shares of LB Pharmaceuticals to a “hold” rating in a report on Monday, September 22nd. Two research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, LB Pharmaceuticals presently has an average rating of “Moderate Buy” and an average target price of $33.33.

LB Pharmaceuticals Price Performance

LBRX opened at $20.73 on Friday. The company has a market cap of $524.47 million and a P/E ratio of -33.98. The firm’s 50-day moving average is $18.75. LB Pharmaceuticals has a 52 week low of $13.36 and a 52 week high of $23.15.

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

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. SG Americas Securities LLC bought a new stake in shares of LB Pharmaceuticals in the 4th quarter worth about $143,000. JPMorgan Chase & Co. bought a new position in LB Pharmaceuticals during the 3rd quarter valued at about $16,305,000. Hudson Bay Capital Management LP purchased a new stake in LB Pharmaceuticals in the 3rd quarter worth about $428,000. TCG Crossover Management LLC bought a new stake in LB Pharmaceuticals in the third quarter worth about $27,554,000. Finally, Alyeska Investment Group L.P. purchased a new position in shares of LB Pharmaceuticals during the third quarter valued at approximately $10,658,000.

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.