LB Pharmaceuticals Inc (NASDAQ:LBRX) Receives $33.33 Consensus PT from Brokerages

Shares of LB Pharmaceuticals Inc (NASDAQ:LBRX) have received an average rating of “Moderate Buy” from the seven brokerages that are covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, four have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $33.3333.

LBRX has been the topic of several recent research reports. Stifel Nicolaus increased their target price on LB Pharmaceuticals from $27.00 to $35.00 and gave the stock a “buy” rating in a research report on Thursday, December 11th. Wall Street Zen upgraded shares of LB Pharmaceuticals to a “hold” rating in a research report on Monday, September 22nd. Zacks Research upgraded LB Pharmaceuticals to a “hold” rating in a research report on Tuesday, October 7th. Leerink Partners began coverage on LB Pharmaceuticals in a research note on Monday, October 6th. They issued an “outperform” rating and a $34.00 target price on the stock. Finally, Roth Capital initiated coverage on shares of LB Pharmaceuticals in a report on Friday, January 9th. They issued a “buy” rating and a $31.00 price objective for the company.

LB Pharmaceuticals Trading Down 6.6%

LBRX opened at $19.97 on Friday. The firm has a fifty day moving average of $19.25. The company has a market capitalization of $505.24 million and a P/E ratio of -32.74. LB Pharmaceuticals has a 1-year low of $13.36 and a 1-year high of $23.15.

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

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. SG Americas Securities LLC purchased a new stake in LB Pharmaceuticals during the fourth quarter valued at $143,000. JPMorgan Chase & Co. bought a new position in shares of LB Pharmaceuticals in the 3rd quarter worth approximately $16,305,000. Hudson Bay Capital Management LP bought a new stake in LB Pharmaceuticals during the third quarter valued at approximately $428,000. TCG Crossover Management LLC purchased a new stake in LB Pharmaceuticals during the third quarter valued at approximately $27,554,000. Finally, Alyeska Investment Group L.P. bought a new position in LB Pharmaceuticals in the third quarter worth 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.