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

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

Other equities analysts have also recently issued research reports about the company. HC Wainwright reiterated a “buy” rating on shares of LB Pharmaceuticals in a report on Monday, October 12th. Needham & Company LLC initiated coverage on LB Pharmaceuticals in a research note on Friday, October 2nd. They issued a “buy” rating and a $68.00 price objective on the stock. Stifel Nicolaus set a $53.00 price objective on LB Pharmaceuticals in a research report on Thursday, August 13th. Piper Sandler reiterated an “overweight” rating and set a $78.00 target price on shares of LB Pharmaceuticals in a research note on Monday, August 3rd. Finally, Canaccord Genuity Group assumed coverage on LB Pharmaceuticals in a report on Friday, October 9th. They set a “buy” rating and a $65.00 target price on the stock. Ten equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $57.40.

LB Pharmaceuticals Price Performance

Shares of LBRX opened at $44.94 on Friday. The firm has a 50-day moving average of $40.47 and a 200-day moving average of $33.17. LB Pharmaceuticals has a one year low of $14.32 and a one year high of $50.16.

LB Pharmaceuticals (NASDAQ:LBRX) last released its quarterly earnings data on Thursday, November 5th. The company reported ($1.79) earnings per share for the quarter, missing the consensus estimate of ($1.61) by ($0.18). As a group, analysts expect that LB Pharmaceuticals will post -5.87 EPS for the current year.

Institutional Trading of LB Pharmaceuticals

Hedge funds and other institutional investors have recently modified their holdings of the stock. Strs Ohio grew its stake in LB Pharmaceuticals by 50.0% in the 1st quarter. Strs Ohio now owns 5,100 shares of the company’s stock valued at $126,000 after buying an additional 1,700 shares during the last quarter. Calamos Advisors LLC acquired a new stake in LB Pharmaceuticals during the first quarter worth approximately $593,000. Profund Advisors LLC acquired a new stake in LB Pharmaceuticals during the third quarter worth approximately $1,082,000. Sigma Planning Corp bought a new stake in shares of LB Pharmaceuticals during the third quarter worth approximately $1,151,000. Finally, Great Lakes Advisors LLC bought a new stake in LB Pharmaceuticals in the 2nd quarter valued at $987,000.

About LB Pharmaceuticals

LB Pharmaceuticals is a clinical-stage biopharmaceutical company developing treatments for serious neuropsychiatric disorders. Its research focuses on medicines intended to address conditions with significant unmet treatment needs. The company’s lead candidate, LB-102, is an oral investigational drug being studied for schizophrenia. LB Pharmaceuticals has also identified other psychiatric conditions, including bipolar disorder, as potential areas of development. LB-102 has not been approved for commercial use, and its safety and effectiveness have not been established by regulators.