LB Pharmaceuticals (NASDAQ:LBRX) Research Coverage Started at Roth Capital

Roth Capital assumed coverage on shares of LB Pharmaceuticals (NASDAQ:LBRX) in a report released on Friday morning, MarketBeat.com reports. The brokerage issued a buy rating on the stock.

A number of other equities research analysts have also weighed in on the stock. Leerink Partners assumed coverage on shares of LB Pharmaceuticals in a report on Monday, October 6th. They issued an “outperform” rating and a $34.00 target price on the stock. Wall Street Zen raised LB Pharmaceuticals to a “hold” rating in a research note on Monday, September 22nd. Stifel Nicolaus raised their target price on LB Pharmaceuticals from $27.00 to $35.00 and gave the company a “buy” rating in a report on Thursday, December 11th. Leerink Partnrs upgraded LB Pharmaceuticals to a “strong-buy” rating in a report on Monday, October 6th. Finally, Zacks Research upgraded LB Pharmaceuticals to a “hold” rating in a research note on Tuesday, October 7th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, LB Pharmaceuticals currently has a consensus rating of “Moderate Buy” and a consensus price target of $33.33.

LB Pharmaceuticals Price Performance

Shares of NASDAQ:LBRX opened at $20.73 on Friday. LB Pharmaceuticals has a twelve month low of $13.36 and a twelve month high of $23.15. The stock’s 50 day moving average price is $18.75. The firm has a market capitalization of $524.47 million and a price-to-earnings ratio of -33.98.

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

Institutional Trading of LB Pharmaceuticals

A number of hedge funds have recently bought and sold shares of LBRX. Deep Track Capital LP purchased a new position in shares of LB Pharmaceuticals in the 3rd quarter worth about $52,941,000. RA Capital Management L.P. purchased a new stake in LB Pharmaceuticals during the third quarter worth about $28,058,000. TCG Crossover Management LLC bought a new stake in LB Pharmaceuticals in the third quarter worth about $27,554,000. Commodore Capital LP purchased a new position in LB Pharmaceuticals in the third quarter valued at about $23,685,000. Finally, JPMorgan Chase & Co. bought a new position in shares of LB Pharmaceuticals during the 3rd quarter valued at approximately $16,305,000.

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.