LB Pharmaceuticals Inc (NASDAQ:LBRX) Stock Now Rated “Moderate Buy” by Wall Street Analysts

Shares of LB Pharmaceuticals Inc (NASDAQ:LBRX) have been assigned a consensus recommendation of “Moderate Buy” from the ten ratings firms that are currently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, seven have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among analysts that have covered the stock in the last year is $49.62.

Several analysts have weighed in on the stock. Weiss Ratings cut shares of LB Pharmaceuticals from a “sell (d+)” rating to a “sell (d)” rating in a research note on Tuesday, August 11th. BMO Capital Markets lifted their target price on shares of LB Pharmaceuticals from $46.00 to $54.00 and gave the company an “outperform” rating in a research note on Wednesday, August 12th. HC Wainwright increased their price target on LB Pharmaceuticals from $45.00 to $60.00 and gave the stock a “buy” rating in a research report on Monday, August 24th. Piper Sandler reaffirmed an “overweight” rating and set a $78.00 price target on shares of LB Pharmaceuticals in a report on Monday, August 3rd. Finally, Wall Street Zen lowered LB Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Saturday, August 15th.

LB Pharmaceuticals Stock Performance

Shares of NASDAQ LBRX opened at $37.28 on Friday. LB Pharmaceuticals has a 52-week low of $13.40 and a 52-week high of $50.16. The business has a fifty day moving average of $44.01 and a two-hundred day moving average of $34.31. The stock has a market cap of $1.20 billion and a PE ratio of -10.84.

LB Pharmaceuticals (NASDAQ:LBRX) last posted its earnings results on Tuesday, August 11th. The company reported ($1.71) earnings per share for the quarter, missing the consensus estimate of ($0.84) by ($0.87). Analysts predict that LB Pharmaceuticals will post -5.78 earnings per share for the current year.

Hedge Funds Weigh In On LB Pharmaceuticals

A number of institutional investors have recently modified their holdings of the stock. Spruce Street Capital LP bought a new stake in shares of LB Pharmaceuticals during the fourth quarter valued at approximately $22,384,000. Janus Henderson Group PLC bought a new position in LB Pharmaceuticals in the 1st quarter worth approximately $1,613,000. Stempoint Capital LP acquired a new position in LB Pharmaceuticals during the 1st quarter worth $1,233,000. Eversept Partners LP acquired a new position in LB Pharmaceuticals during the 1st quarter worth $2,471,000. Finally, Great Lakes Advisors LLC bought a new position in LB Pharmaceuticals in the 2nd quarter valued at $987,000.

LB Pharmaceuticals Company Profile

LB Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company focused on developing treatments for serious neuropsychiatric disorders. The company’s lead product candidate, LB-102, is a long-acting injectable antipsychotic being developed for the treatment of schizophrenia.

LB-102 is designed to provide sustained delivery of its active pharmaceutical ingredient and potentially support adherence compared with daily oral therapies. LB Pharmaceuticals is evaluating the candidate through clinical development intended to assess its safety, tolerability, pharmacokinetics and effectiveness in people with schizophrenia.

The company’s activities are centered on advancing its pipeline through clinical trials and regulatory development.