BMO Capital Markets Upgrades LB Pharmaceuticals (NASDAQ:LBRX) to “Strong-Buy”

LB Pharmaceuticals (NASDAQ:LBRX) was upgraded by research analysts at BMO Capital Markets to a “strong-buy” rating in a report released on Monday,Zacks.com reports.

A number of other research firms also recently weighed in on LBRX. HC Wainwright reiterated a “buy” rating on shares of LB Pharmaceuticals in a research report on Monday, June 22nd. Wall Street Zen upgraded shares of LB Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Sunday, June 21st. Roth Capital restated a “buy” rating and issued a $37.00 target price 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. Finally, Stifel Nicolaus increased their price target on shares of LB Pharmaceuticals from $35.00 to $40.00 and gave the stock a “buy” rating in a research report on Friday, March 27th. Two analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $40.43.

LB Pharmaceuticals Stock Up 4.6%

Shares of LB Pharmaceuticals stock opened at $32.31 on Monday. The stock has a market capitalization of $926.55 million and a price-to-earnings ratio of -18.68. LB Pharmaceuticals has a twelve month low of $13.36 and a twelve month high of $35.35. The company has a 50-day simple moving average of $30.22 and a two-hundred day simple moving average of $26.78.

LB Pharmaceuticals (NASDAQ:LBRX) last announced its earnings results on Tuesday, May 12th. The company reported ($0.67) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.75) by $0.08. On average, sell-side analysts anticipate that LB Pharmaceuticals will post -3.58 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Jefferies Financial Group Inc. bought a new position in shares of LB Pharmaceuticals in the third quarter worth about $207,000. Landscape Capital Management L.L.C. bought a new stake in shares of LB Pharmaceuticals during the 3rd quarter valued at approximately $168,000. Squarepoint Ops LLC acquired a new position in LB Pharmaceuticals during the 3rd quarter worth approximately $329,000. Two Sigma Investments LP acquired a new stake in LB Pharmaceuticals in the third quarter valued at approximately $213,000. Finally, Balyasny Asset Management L.P. bought a new stake in shares of LB Pharmaceuticals during the third quarter worth $15,289,000.

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.