LB Pharmaceuticals (NASDAQ:LBRX) Sets New 1-Year High – What’s Next?

LB Pharmaceuticals Inc (NASDAQ:LBRX)’s share price hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $25.39 and last traded at $25.15, with a volume of 26798 shares changing hands. The stock had previously closed at $24.01.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on LBRX. Weiss Ratings reissued a “sell (e)” rating on shares of LB Pharmaceuticals in a research report on Monday, December 29th. Roth Mkm initiated coverage on shares of LB Pharmaceuticals in a research report on Friday, January 9th. They set a “buy” rating and a $31.00 price objective for the company. Finally, Stifel Nicolaus upped their target price on LB Pharmaceuticals from $27.00 to $35.00 and gave the company a “buy” rating in a research report on Thursday, December 11th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, LB Pharmaceuticals has a consensus rating of “Moderate Buy” and an average target price of $33.33.

LB Pharmaceuticals Trading Up 5.2%

The stock’s fifty day moving average price is $21.93. The firm has a market capitalization of $638.83 million and a PE ratio of -41.39.

Institutional Investors Weigh In On LB Pharmaceuticals

Large investors have recently added to or reduced their stakes in the stock. California State Teachers Retirement System bought a new position in LB Pharmaceuticals during the 4th quarter worth $26,000. Jane Street Group LLC grew its holdings in shares of LB Pharmaceuticals by 4.6% during the 4th quarter. Jane Street Group LLC now owns 31,733 shares of the company’s stock worth $706,000 after purchasing an additional 1,388 shares in the last quarter. Russell Investments Group Ltd. bought a new position in shares of LB Pharmaceuticals in the fourth quarter worth $34,000. Bank of America Corp DE acquired a new position in LB Pharmaceuticals in the third quarter valued at about $27,000. Finally, Strs Ohio acquired a new stake in LB Pharmaceuticals during the fourth quarter worth about $76,000.

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.