LB Pharmaceuticals (NASDAQ:LBRX) Trading Up 7.7% – What’s Next?

LB Pharmaceuticals Inc (NASDAQ:LBRX)’s stock price shot up 7.7% during mid-day trading on Thursday . The company traded as high as $20.86 and last traded at $20.86. 201,721 shares traded hands during trading, a decline of 19% from the average session volume of 249,428 shares. The stock had previously closed at $19.36.

Wall Street Analysts Forecast Growth

LBRX has been the subject of several analyst reports. Leerink Partnrs raised shares of LB Pharmaceuticals to a “strong-buy” rating in a report on Monday, October 6th. Stifel Nicolaus raised their price target on shares of LB Pharmaceuticals from $27.00 to $35.00 and gave the company a “buy” rating in a research note on Thursday, December 11th. Zacks Research raised LB Pharmaceuticals to a “hold” rating in a report on Tuesday, October 7th. Piper Sandler began coverage on LB Pharmaceuticals in a research report on Monday, October 6th. They issued an “overweight” rating on the stock. Finally, Weiss Ratings reiterated a “sell (e)” rating on shares of LB Pharmaceuticals in a research report on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $33.33.

LB Pharmaceuticals Price Performance

The stock has a fifty day moving average price of $18.94. The stock has a market capitalization of $540.89 million and a PE ratio of -35.05.

LB Pharmaceuticals (NASDAQ:LBRX) last released its quarterly earnings data 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 and hedge funds have recently added to or reduced their stakes in the stock. Deep Track Capital LP purchased a new stake in LB Pharmaceuticals in the 3rd quarter worth approximately $52,941,000. RA Capital Management L.P. acquired a new position in shares of LB Pharmaceuticals during the 3rd quarter worth $28,058,000. TCG Crossover Management LLC bought a new position in shares of LB Pharmaceuticals during the 3rd quarter valued at $27,554,000. Commodore Capital LP acquired a new stake in shares of LB Pharmaceuticals in the 3rd quarter valued at $23,685,000. Finally, JPMorgan Chase & Co. bought a new stake in LB Pharmaceuticals in the third quarter worth $16,305,000.

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.