LB Pharmaceuticals (NASDAQ:LBRX) Reaches New 12-Month High – Should You Buy?

LB Pharmaceuticals Inc (NASDAQ:LBRX)’s stock price hit a new 52-week high on Thursday . The stock traded as high as $34.00 and last traded at $33.5270, with a volume of 97254 shares changing hands. The stock had previously closed at $31.89.

Analyst Ratings Changes

Several research analysts have commented on the stock. Weiss Ratings upgraded shares of LB Pharmaceuticals from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday, June 11th. Stifel Nicolaus increased their price objective on LB Pharmaceuticals from $35.00 to $40.00 and gave the stock a “buy” rating in a report on Friday, March 27th. Wall Street Zen upgraded LB Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Sunday, June 21st. Craig Hallum initiated coverage on LB Pharmaceuticals in a research note on Friday, April 10th. They set a “buy” rating and a $36.00 target price on the stock. Finally, HC Wainwright reiterated a “buy” rating on shares of LB Pharmaceuticals in a research report on Monday, June 22nd. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $38.40.

LB Pharmaceuticals Stock Performance

The stock has a market cap of $958.77 million and a P/E ratio of -19.32. The stock’s 50-day moving average is $30.01 and its 200-day moving average is $25.79.

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

Institutional Investors Weigh In On LB Pharmaceuticals

Several hedge funds and other institutional investors have recently added to or reduced their stakes in LBRX. California State Teachers Retirement System acquired a new stake in LB Pharmaceuticals in the fourth quarter worth approximately $26,000. Bank of America Corp DE acquired a new position in shares of LB Pharmaceuticals during the 3rd quarter valued at $27,000. Russell Investments Group Ltd. bought a new stake in shares of LB Pharmaceuticals in the 4th quarter worth $34,000. Strs Ohio acquired a new stake in shares of LB Pharmaceuticals in the fourth quarter valued at $76,000. Finally, Persistent Asset Partners Ltd acquired a new stake in shares of LB Pharmaceuticals in the fourth quarter valued at $91,000.

LB Pharmaceuticals Company Profile

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.