LB Pharmaceuticals (NASDAQ:LBRX) Given New $40.00 Price Target at Stifel Nicolaus

LB Pharmaceuticals (NASDAQ:LBRX) had its price target boosted by stock analysts at Stifel Nicolaus from $35.00 to $40.00 in a research note issued on Friday,Benzinga reports. The firm currently has a “buy” rating on the stock. Stifel Nicolaus’ target price suggests a potential upside of 61.55% from the stock’s current price.

LBRX has been the subject of several other reports. Weiss Ratings reiterated a “sell (e)” rating on shares of LB Pharmaceuticals in a research report on Monday, December 29th. Roth Mkm started coverage on shares of LB Pharmaceuticals in a report on Friday, January 9th. They issued a “buy” rating and a $31.00 price target on the stock. One investment 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 issued a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $35.00.

LB Pharmaceuticals Price Performance

Shares of NASDAQ LBRX opened at $24.76 on Friday. The business has a 50-day simple moving average of $23.51. LB Pharmaceuticals has a twelve month low of $13.36 and a twelve month high of $27.55. The company has a market cap of $626.40 million and a price-to-earnings ratio of -40.59.

LB Pharmaceuticals (NASDAQ:LBRX) last issued its quarterly earnings results on Thursday, March 26th. The company reported ($0.45) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.45).

Hedge Funds Weigh In On LB Pharmaceuticals

Several institutional investors have recently modified their holdings of the company. California State Teachers Retirement System purchased a new position in shares of LB Pharmaceuticals during the 4th quarter valued at about $26,000. Bank of America Corp DE purchased a new stake in LB Pharmaceuticals in the third quarter worth approximately $27,000. Russell Investments Group Ltd. purchased a new stake in LB Pharmaceuticals in the fourth quarter worth approximately $34,000. Strs Ohio bought a new position in LB Pharmaceuticals during the fourth quarter valued at approximately $76,000. Finally, Persistent Asset Partners Ltd purchased a new position in shares of LB Pharmaceuticals during the fourth quarter worth approximately $91,000.

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.