LB Pharmaceuticals Inc (NASDAQ:LBRX) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of LB Pharmaceuticals Inc (NASDAQ:LBRX) have been assigned a consensus rating of “Moderate Buy” from the six brokerages that are presently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, one has given a hold rating, three have assigned a buy rating and one has issued a strong buy rating on the company. The average 1 year target price among brokerages that have covered the stock in the last year is $33.3333.

Several brokerages have weighed in on LBRX. Weiss Ratings restated a “sell (e)” rating on shares of LB Pharmaceuticals in a report on Monday, December 29th. Roth Mkm began coverage on LB Pharmaceuticals in a research note on Friday, January 9th. They issued a “buy” rating and a $31.00 price objective for the company. Finally, Stifel Nicolaus upped their target price on shares of LB Pharmaceuticals from $27.00 to $35.00 and gave the stock a “buy” rating in a research note on Thursday, December 11th.

LB Pharmaceuticals Stock Performance

Shares of NASDAQ LBRX opened at $23.78 on Friday. The firm has a market capitalization of $601.63 million and a PE ratio of -38.98. The company has a fifty day moving average of $22.49. LB Pharmaceuticals has a 12-month low of $13.36 and a 12-month high of $25.60.

Institutional Investors Weigh In On LB Pharmaceuticals

A number of hedge funds and other institutional investors have recently modified their holdings of the company. California State Teachers Retirement System purchased a new stake in shares of LB Pharmaceuticals during the 4th quarter worth $26,000. Bank of America Corp DE acquired a new stake in LB Pharmaceuticals in the third quarter valued at $27,000. Russell Investments Group Ltd. purchased a new stake in LB Pharmaceuticals during the 4th quarter worth about $34,000. Strs Ohio acquired a new position in shares of LB Pharmaceuticals during the 4th quarter worth about $76,000. Finally, Persistent Asset Partners Ltd purchased a new position in shares of LB Pharmaceuticals in the 4th quarter valued at about $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.