LB Pharmaceuticals (NASDAQ:LBRX) Sees Unusually-High Trading Volume – Should You Buy?

Shares of LB Pharmaceuticals Inc (NASDAQ:LBRX) saw unusually-strong trading volume on Thursday . Approximately 215,795 shares changed hands during mid-day trading, a decline of 4% from the previous session’s volume of 224,237 shares.The stock last traded at $29.6050 and had previously closed at $30.05.

Analysts Set New Price Targets

A number of equities research analysts have commented on LBRX shares. Stifel Nicolaus upped their price target on LB Pharmaceuticals from $35.00 to $40.00 and gave the company a “buy” rating in a research report on Friday, March 27th. Craig Hallum started coverage on LB Pharmaceuticals in a research report on Friday, April 10th. They issued a “buy” rating and a $36.00 price target on the stock. Weiss Ratings upgraded LB Pharmaceuticals from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday, June 11th. Wall Street Zen lowered LB Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Saturday, June 13th. Finally, Roth Mkm reiterated a “buy” rating and issued a $37.00 price target on shares of LB Pharmaceuticals in a research report on Sunday, May 17th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, LB Pharmaceuticals presently has a consensus rating of “Moderate Buy” and an average target price of $38.40.

LB Pharmaceuticals Stock Performance

The business has a 50 day moving average of $29.19 and a two-hundred day moving average of $24.84. The firm has a market capitalization of $849.65 million and a price-to-earnings ratio of -17.14.

LB Pharmaceuticals (NASDAQ:LBRX) last posted its quarterly earnings results on Tuesday, May 12th. The company reported ($0.67) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.75) by $0.08. On average, equities analysts predict that LB Pharmaceuticals Inc will post -3.58 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Deep Track Capital LP acquired a new position in LB Pharmaceuticals during the 3rd quarter worth approximately $52,941,000. RA Capital Management L.P. raised its stake in LB Pharmaceuticals by 24.3% during the 4th quarter. RA Capital Management L.P. now owns 2,208,604 shares of the company’s stock worth $49,164,000 after buying an additional 431,646 shares during the period. TCG Crossover Management LLC acquired a new position in LB Pharmaceuticals during the 3rd quarter worth approximately $27,554,000. JPMorgan Chase & Co. raised its stake in LB Pharmaceuticals by 56.1% during the 4th quarter. JPMorgan Chase & Co. now owns 1,611,482 shares of the company’s stock worth $35,872,000 after buying an additional 578,879 shares during the period. Finally, Commodore Capital LP acquired a new position in LB Pharmaceuticals during the 3rd quarter worth approximately $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.