LB Pharmaceuticals Inc (NASDAQ:LBRX) Given Average Rating of “Moderate Buy” by Analysts

Shares of LB Pharmaceuticals Inc (NASDAQ:LBRX) have earned an average recommendation of “Moderate Buy” from the ten research firms that are covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, seven have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $49.6250.

A number of equities analysts have weighed in on the stock. BMO Capital Markets boosted their target price on shares of LB Pharmaceuticals from $46.00 to $54.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 12th. HC Wainwright raised their price target on shares of LB Pharmaceuticals from $45.00 to $60.00 and gave the company a “buy” rating in a report on Monday, August 24th. Roth Capital restated a “buy” rating and issued a $37.00 price objective on shares of LB Pharmaceuticals in a research report on Sunday, May 17th. Wall Street Zen downgraded LB Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Saturday, August 15th. Finally, Wolfe Research initiated coverage on LB Pharmaceuticals in a research report on Tuesday, July 7th. They issued an “outperform” rating and a $45.00 price objective on the stock.

Institutional Trading of LB Pharmaceuticals

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. California State Teachers Retirement System increased its position in LB Pharmaceuticals by 50,961.3% in the second quarter. California State Teachers Retirement System now owns 531,548 shares of the company’s stock worth $16,378,000 after purchasing an additional 530,507 shares during the period. Wellington Management Group LLP lifted its position in LB Pharmaceuticals by 11.9% during the 2nd quarter. Wellington Management Group LLP now owns 58,891 shares of the company’s stock valued at $1,911,000 after purchasing an additional 6,251 shares during the period. Great Lakes Advisors LLC bought a new position in shares of LB Pharmaceuticals in the 2nd quarter valued at about $987,000. Bank of New York Mellon Corp acquired a new stake in shares of LB Pharmaceuticals during the 2nd quarter worth approximately $1,784,000. Finally, Stempoint Capital LP acquired a new stake in shares of LB Pharmaceuticals during the 1st quarter worth approximately $1,233,000.

LB Pharmaceuticals Stock Performance

LB Pharmaceuticals stock opened at $49.34 on Monday. The business’s fifty day moving average is $40.54 and its two-hundred day moving average is $32.02. The firm has a market cap of $1.59 billion and a P/E ratio of -14.34. LB Pharmaceuticals has a 52 week low of $13.36 and a 52 week high of $50.16.

LB Pharmaceuticals (NASDAQ:LBRX) last released its quarterly earnings results on Tuesday, August 11th. The company reported ($1.71) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.84) by ($0.87). On average, equities research analysts predict that LB Pharmaceuticals will post -5.16 earnings per share for the current year.

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.