LB Pharmaceuticals (NASDAQ:LBRX) Upgraded to Sell at Wall Street Zen

Wall Street Zen upgraded shares of LB Pharmaceuticals (NASDAQ:LBRX) from a strong sell rating to a sell rating in a report published on Saturday,Wall Street Zen reports.

LBRX has been the subject of several other reports. Needham & Company LLC assumed coverage on shares of LB Pharmaceuticals in a report on Friday, October 2nd. They set a “buy” rating and a $68.00 price target for the company. Wolfe Research assumed coverage on LB Pharmaceuticals in a report on Tuesday, July 7th. They set an “outperform” rating and a $45.00 price objective on the stock. Guggenheim restated a “buy” rating on shares of LB Pharmaceuticals in a research report on Monday, October 12th. BMO Capital Markets boosted their price objective on LB Pharmaceuticals from $46.00 to $54.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 12th. Finally, HC Wainwright reaffirmed a “buy” rating on shares of LB Pharmaceuticals in a report on Monday, October 12th. Ten investment analysts have rated the stock with a Buy rating, one has given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, LB Pharmaceuticals presently has a consensus rating of “Moderate Buy” and a consensus target price of $57.40.

LB Pharmaceuticals Stock Down 1.1%

NASDAQ:LBRX opened at $39.70 on Friday. The stock’s 50-day simple moving average is $41.38 and its 200 day simple moving average is $32.45. The firm has a market capitalization of $1.28 billion and a PE ratio of -11.54. LB Pharmaceuticals has a twelve month low of $14.32 and a twelve month high of $50.16.

LB Pharmaceuticals (NASDAQ:LBRX) last released its 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, analysts anticipate that LB Pharmaceuticals will post -5.70 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Spruce Street Capital LP lifted its holdings in LB Pharmaceuticals by 36.9% during the 1st quarter. Spruce Street Capital LP now owns 1,376,159 shares of the company’s stock worth $33,645,000 after buying an additional 370,566 shares during the period. Janus Henderson Group PLC bought a new stake in shares of LB Pharmaceuticals in the 1st quarter valued at about $1,613,000. Bank of New York Mellon Corp acquired a new stake in shares of LB Pharmaceuticals in the second quarter valued at about $1,784,000. Stempoint Capital LP acquired a new stake in shares of LB Pharmaceuticals in the first quarter valued at about $1,233,000. Finally, Eversept Partners LP bought a new position in shares of LB Pharmaceuticals during the first quarter worth about $2,471,000.

About LB Pharmaceuticals

LB Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company focused on developing treatments for neuropsychiatric disorders. The company’s lead product candidate, LB-102, is an investigational oral therapy being developed for schizophrenia and potentially other conditions involving serious disturbances in mood, thought and behavior.

LB-102 is designed as a prodrug of amisulpride, an antipsychotic compound that has been approved in certain markets outside the United States but is not approved by the U.S.