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

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

LBRX has been the topic of several other reports. Roth Capital reissued a “buy” rating and issued a $37.00 price target on shares of LB Pharmaceuticals in a report on Sunday, May 17th. Stifel Nicolaus set a $53.00 target price on LB Pharmaceuticals in a research report on Thursday. Weiss Ratings lowered LB Pharmaceuticals from a “sell (d+)” rating to a “sell (d)” rating in a research note on Tuesday, August 11th. Wolfe Research assumed coverage on LB Pharmaceuticals in a research note on Tuesday, July 7th. They issued an “outperform” rating and a $45.00 price target for the company. Finally, BMO Capital Markets upped their price objective on LB Pharmaceuticals from $46.00 to $54.00 and gave the company an “outperform” rating in a report on Wednesday, August 12th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $47.75.

LB Pharmaceuticals Price Performance

NASDAQ:LBRX opened at $46.23 on Friday. The company has a market cap of $1.49 billion and a P/E ratio of -13.44. The firm’s fifty day moving average price is $35.36 and its two-hundred day moving average price is $29.59. LB Pharmaceuticals has a one year low of $13.36 and a one year high of $49.14.

LB Pharmaceuticals (NASDAQ:LBRX) last posted 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). As a group, equities research analysts expect that LB Pharmaceuticals will post -4.67 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. California State Teachers Retirement System acquired a new position in shares of LB Pharmaceuticals during the 4th quarter worth $26,000. Bank of America Corp DE acquired a new stake in LB Pharmaceuticals in the third quarter valued at about $27,000. Russell Investments Group Ltd. bought a new position in LB Pharmaceuticals in the fourth quarter valued at about $34,000. Strs Ohio bought a new position in LB Pharmaceuticals in the fourth quarter valued at about $76,000. Finally, Persistent Asset Partners Ltd acquired a new position in LB Pharmaceuticals during the fourth quarter worth about $91,000.

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.