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

LB Pharmaceuticals Inc (NASDAQ:LBRX) has earned a consensus rating of “Moderate Buy” from the six research firms that are currently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, three have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $35.00.

Several equities research analysts have recently issued reports on LBRX shares. Stifel Nicolaus raised their price target on shares of LB Pharmaceuticals from $35.00 to $40.00 and gave the stock a “buy” rating in a research note on Friday, March 27th. Weiss Ratings reissued a “sell (e)” rating on shares of LB Pharmaceuticals in a report on Monday, December 29th. Finally, Roth Mkm assumed coverage on LB Pharmaceuticals in a research report on Friday, January 9th. They issued a “buy” rating and a $31.00 target price for the company.

Institutional Investors Weigh In On LB Pharmaceuticals

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. California State Teachers Retirement System purchased a new stake in LB Pharmaceuticals during the fourth quarter valued at about $26,000. Jane Street Group LLC raised its position in shares of LB Pharmaceuticals by 4.6% in the fourth quarter. Jane Street Group LLC now owns 31,733 shares of the company’s stock valued at $706,000 after purchasing an additional 1,388 shares during the period. Russell Investments Group Ltd. bought a new stake in shares of LB Pharmaceuticals in the fourth quarter valued at approximately $34,000. Bank of America Corp DE purchased a new stake in shares of LB Pharmaceuticals during the 3rd quarter valued at approximately $27,000. Finally, Strs Ohio bought a new position in LB Pharmaceuticals in the 4th quarter worth approximately $76,000.

LB Pharmaceuticals Stock Performance

LBRX opened at $24.81 on Thursday. LB Pharmaceuticals has a fifty-two week low of $13.36 and a fifty-two week high of $27.55. The firm’s 50-day moving average is $23.78. The company has a market capitalization of $711.30 million and a price-to-earnings ratio of -40.67.

LB Pharmaceuticals (NASDAQ:LBRX) last announced its quarterly earnings data on Thursday, March 26th. The company reported ($0.45) EPS for the quarter, hitting the consensus estimate of ($0.45).

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.