LB Pharmaceuticals Inc (NASDAQ:LBRX) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of LB Pharmaceuticals Inc (NASDAQ:LBRX) have been given a consensus recommendation of “Moderate Buy” by the ten brokerages that are covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, seven have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $46.1250.

LBRX has been the subject of a number of research analyst reports. Roth Capital reaffirmed a “buy” rating and set a $37.00 price objective on shares of LB Pharmaceuticals in a research note on Sunday, May 17th. Weiss Ratings cut shares of LB Pharmaceuticals from a “sell (d+)” rating to a “sell (d)” rating in a research report on Tuesday. HC Wainwright restated a “buy” rating and issued a $45.00 target price on shares of LB Pharmaceuticals in a report on Monday, August 3rd. Piper Sandler reaffirmed an “overweight” rating and set a $78.00 price target on shares of LB Pharmaceuticals in a research report on Monday, August 3rd. Finally, Wolfe Research assumed coverage on shares of LB Pharmaceuticals in a research note on Tuesday, July 7th. They set an “outperform” rating and a $45.00 price target on the stock.

LB Pharmaceuticals Price Performance

Shares of LBRX opened at $45.38 on Thursday. LB Pharmaceuticals has a 1-year low of $13.36 and a 1-year high of $49.14. The stock has a market cap of $1.30 billion and a price-to-earnings ratio of -13.19. The firm has a 50 day simple moving average of $34.33 and a 200-day simple moving average of $29.10.

LB Pharmaceuticals (NASDAQ:LBRX) last issued its quarterly 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). On average, equities analysts expect that LB Pharmaceuticals will post -3.55 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. California State Teachers Retirement System acquired a new stake in LB Pharmaceuticals during the fourth quarter worth about $26,000. Russell Investments Group Ltd. acquired a new position in shares of LB Pharmaceuticals in the 4th quarter valued at about $34,000. Bank of America Corp DE purchased a new stake in shares of LB Pharmaceuticals during the 3rd quarter worth about $27,000. Strs Ohio purchased a new stake in shares of LB Pharmaceuticals during the 4th quarter worth about $76,000. Finally, Persistent Asset Partners Ltd acquired a new stake in LB Pharmaceuticals during the 4th quarter worth approximately $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.