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

LB Pharmaceuticals Inc (NASDAQ:LBRX) has earned a consensus rating of “Moderate Buy” from the six ratings firms that are presently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, three have issued a buy rating and one has issued a strong buy rating on the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $34.50.

A number of research analysts have commented on the company. Leerink Partners started coverage on LB Pharmaceuticals in a research note on Monday, October 6th. They issued an “outperform” rating and a $34.00 target price on the stock. Weiss Ratings reiterated a “sell (e)” rating on shares of LB Pharmaceuticals in a report on Tuesday, December 16th. Wall Street Zen upgraded LB Pharmaceuticals to a “hold” rating in a report on Monday, September 22nd. Leerink Partnrs upgraded shares of LB Pharmaceuticals to a “strong-buy” rating in a research note on Monday, October 6th. Finally, Piper Sandler assumed coverage on shares of LB Pharmaceuticals in a research note on Monday, October 6th. They set an “overweight” rating on the stock.

LB Pharmaceuticals Trading Up 7.0%

Shares of LB Pharmaceuticals stock opened at $22.54 on Tuesday. LB Pharmaceuticals has a 12-month low of $13.36 and a 12-month high of $23.15. The stock’s fifty day moving average is $17.28.

LB Pharmaceuticals (NASDAQ:LBRX) last posted its quarterly earnings data on Thursday, November 6th. The company reported ($0.61) EPS for the quarter, missing analysts’ consensus estimates of ($0.57) by ($0.04).

Hedge Funds Weigh In On LB Pharmaceuticals

Several institutional investors have recently bought and sold shares of LBRX. Bank of America Corp DE bought a new stake in shares of LB Pharmaceuticals during the 3rd quarter worth about $27,000. Federated Hermes Inc. acquired a new stake in LB Pharmaceuticals in the 3rd quarter worth approximately $142,000. Landscape Capital Management L.L.C. bought a new stake in LB Pharmaceuticals during the third quarter worth approximately $168,000. Jefferies Financial Group Inc. acquired a new position in LB Pharmaceuticals during the third quarter valued at approximately $207,000. Finally, Brevan Howard Capital Management LP bought a new position in shares of LB Pharmaceuticals in the third quarter valued at approximately $209,000.

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.