LB Pharmaceuticals Inc (NASDAQ:LBRX) Given Average Recommendation of “Moderate Buy” by Analysts

LB Pharmaceuticals Inc (NASDAQ:LBRX) has been given a consensus rating of “Moderate Buy” by the nine research firms that are covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, one has given a hold recommendation, six have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $39.50.

A number of research firms have commented on LBRX. HC Wainwright reaffirmed a “buy” rating on shares of LB Pharmaceuticals in a report on Monday, June 22nd. Roth Capital restated a “buy” rating and issued a $37.00 price target on shares of LB Pharmaceuticals in a research report on Sunday, May 17th. Weiss Ratings raised shares of LB Pharmaceuticals from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday, June 11th. Wall Street Zen raised shares of LB Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Sunday, June 21st. Finally, Craig Hallum initiated coverage on shares of LB Pharmaceuticals in a report on Friday, April 10th. They issued a “buy” rating and a $36.00 target price on the stock.

Institutional Trading of LB Pharmaceuticals

Hedge funds have recently made changes to their positions in the stock. California State Teachers Retirement System bought a new stake in LB Pharmaceuticals in the fourth quarter valued at $26,000. Jane Street Group LLC grew its position in shares of LB Pharmaceuticals by 4.6% during the fourth quarter. Jane Street Group LLC now owns 31,733 shares of the company’s stock worth $706,000 after acquiring an additional 1,388 shares during the last quarter. Russell Investments Group Ltd. bought a new position in shares of LB Pharmaceuticals during the fourth quarter worth about $34,000. Bank of America Corp DE acquired a new stake in shares of LB Pharmaceuticals in the 3rd quarter worth about $27,000. Finally, Strs Ohio lifted its position 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 purchasing an additional 1,700 shares during the last quarter.

LB Pharmaceuticals Stock Up 2.7%

Shares of LB Pharmaceuticals stock opened at $31.41 on Friday. The business has a 50-day moving average price of $30.23 and a 200 day moving average price of $26.61. LB Pharmaceuticals has a fifty-two week low of $13.36 and a fifty-two week high of $35.35. The firm has a market cap of $900.74 million and a P/E ratio of -18.16.

LB Pharmaceuticals (NASDAQ:LBRX) last issued its earnings results on Tuesday, May 12th. The company reported ($0.67) EPS for the quarter, topping the consensus estimate of ($0.75) by $0.08. As a group, equities research analysts anticipate that LB Pharmaceuticals will post -3.58 earnings per share for the current year.

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.