LB Pharmaceuticals (NASDAQ:LBRX) Hits New 52-Week High – Should You Buy?

LB Pharmaceuticals Inc (NASDAQ:LBRX)’s share price hit a new 52-week high during mid-day trading on Monday . The company traded as high as $33.47 and last traded at $32.93, with a volume of 13624 shares. The stock had previously closed at $31.97.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. Stifel Nicolaus raised their price objective on shares of LB Pharmaceuticals from $35.00 to $40.00 and gave the company a “buy” rating in a research report on Friday, March 27th. HC Wainwright assumed coverage on LB Pharmaceuticals in a research report on Monday, April 27th. They set a “buy” rating and a $45.00 target price on the stock. Finally, Craig Hallum started coverage on LB Pharmaceuticals in a report on Friday, April 10th. They issued a “buy” rating and a $36.00 price target for the company. Two equities research analysts have 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 data from MarketBeat, LB Pharmaceuticals presently has a consensus rating of “Moderate Buy” and an average target price of $37.20.

LB Pharmaceuticals Trading Up 2.3%

The stock’s 50 day moving average price is $26.60 and its two-hundred day moving average price is $22.18. The firm has a market capitalization of $937.55 million and a price-to-earnings ratio of -30.84.

LB Pharmaceuticals (NASDAQ:LBRX) last announced its quarterly earnings data on Thursday, March 26th. The company reported ($0.45) EPS for the quarter, meeting the consensus estimate of ($0.45). On average, sell-side analysts forecast that LB Pharmaceuticals Inc will post -3.79 earnings per share for the current fiscal year.

Institutional Investors Weigh In On LB Pharmaceuticals

Institutional investors and hedge funds have recently modified their holdings of the company. Deep Track Capital LP purchased a new position in LB Pharmaceuticals in the 3rd quarter valued at approximately $52,941,000. RA Capital Management L.P. boosted its position in LB Pharmaceuticals by 24.3% during the fourth quarter. RA Capital Management L.P. now owns 2,208,604 shares of the company’s stock worth $49,164,000 after purchasing an additional 431,646 shares in the last quarter. TCG Crossover Management LLC acquired a new stake in LB Pharmaceuticals in the third quarter valued at $27,554,000. JPMorgan Chase & Co. increased its position in shares of LB Pharmaceuticals by 56.1% in the fourth quarter. JPMorgan Chase & Co. now owns 1,611,482 shares of the company’s stock valued at $35,872,000 after buying an additional 578,879 shares in the last quarter. Finally, Commodore Capital LP purchased a new position in shares of LB Pharmaceuticals in the third quarter valued at $23,685,000.

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.