LB Pharmaceuticals (NASDAQ:LBRX) Stock Rating Upgraded by Wall Street Zen

LB Pharmaceuticals (NASDAQ:LBRX) was upgraded by equities researchers at Wall Street Zen from a “strong sell” rating to a “sell” rating in a research note issued to investors on Saturday, Wall Street Zen reports.

Other analysts have also recently issued reports about 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. HC Wainwright restated a “buy” rating on shares of LB Pharmaceuticals in a research report on Monday, October 12th. Needham & Company LLC began coverage on shares of LB Pharmaceuticals in a research report on Friday, October 2nd. They set a “buy” rating and a $68.00 price target on the stock. Raymond James Financial upgraded shares of LB Pharmaceuticals to a “buy” rating in a research report on Monday, October 12th. Finally, Canaccord Genuity Group started coverage on shares of LB Pharmaceuticals in a research report on Friday, October 9th. They set a “buy” rating and a $65.00 price objective on the stock. Ten analysts have rated the stock with a Buy rating, one has given a Hold rating and two have given a Sell rating to the company. According to MarketBeat, LB Pharmaceuticals has a consensus rating of “Moderate Buy” and an average price target of $57.40.

LB Pharmaceuticals Price Performance

LBRX stock opened at $39.70 on Friday. The company’s 50-day simple moving average is $41.38 and its 200-day simple moving average is $32.45. LB Pharmaceuticals has a 52-week low of $14.32 and a 52-week high of $50.16. The firm has a market cap of $1.28 billion, a P/E ratio of -11.54 and a beta of 0.82.

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 the consensus estimate of ($0.84) by ($0.87). On average, analysts anticipate that LB Pharmaceuticals will post -5.70 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Spruce Street Capital LP boosted its stake in shares of LB Pharmaceuticals by 36.9% in the 1st quarter. Spruce Street Capital LP now owns 1,376,159 shares of the company’s stock valued at $33,645,000 after purchasing an additional 370,566 shares in the last quarter. Eversept Partners LP bought a new position in shares of LB Pharmaceuticals during the first quarter valued at about $2,471,000. Janus Henderson Group PLC bought a new position in LB Pharmaceuticals in the 1st quarter valued at approximately $1,613,000. Bank of New York Mellon Corp bought a new stake in LB Pharmaceuticals in the second quarter worth $1,784,000. Finally, Stempoint Capital LP bought a new stake in LB Pharmaceuticals during the first quarter valued at about $1,233,000.

LB Pharmaceuticals Company Profile

LB Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company focused on developing treatments for neuropsychiatric disorders. The company’s lead product candidate, LB-102, is an investigational oral therapy being developed for schizophrenia and potentially other conditions involving serious disturbances in mood, thought and behavior.

LB-102 is designed as a prodrug of amisulpride, an antipsychotic compound that has been approved in certain markets outside the United States but is not approved by the U.S.