LB Pharmaceuticals (NASDAQ:LBRX) Stock Rating Lowered by Wall Street Zen

LB Pharmaceuticals (NASDAQ:LBRX) was downgraded by stock analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Saturday.

LBRX has been the subject of several other research reports. HC Wainwright restated a “buy” rating on shares of LB Pharmaceuticals in a report on Tuesday, May 26th. Craig Hallum assumed coverage on shares of LB Pharmaceuticals in a report on Friday, April 10th. They set a “buy” rating and a $36.00 target price for the company. Stifel Nicolaus increased their target price on shares of LB Pharmaceuticals from $35.00 to $40.00 and gave the stock a “buy” rating in a report on Friday, March 27th. Weiss Ratings restated a “sell (e+)” rating on shares of LB Pharmaceuticals in a research note on Friday, May 29th. Finally, Roth Mkm restated a “buy” rating and issued a $37.00 price target on shares of LB Pharmaceuticals in a research note on Sunday, May 17th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $38.40.

LB Pharmaceuticals Stock Performance

Shares of LB Pharmaceuticals stock opened at $28.42 on Friday. The business’s 50 day simple moving average is $29.04 and its 200 day simple moving average is $24.52. LB Pharmaceuticals has a 52-week low of $13.36 and a 52-week high of $33.47. The firm has a market cap of $815.09 million and a PE ratio of -16.43.

LB Pharmaceuticals (NASDAQ:LBRX) last issued its quarterly earnings results on Tuesday, May 12th. The company reported ($0.67) earnings per share for the quarter, topping the consensus estimate of ($0.75) by $0.08. As a group, equities research analysts predict that LB Pharmaceuticals will post -3.58 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. California State Teachers Retirement System acquired a new stake in shares of LB Pharmaceuticals during the 4th quarter worth about $26,000. Bank of America Corp DE acquired a new stake in shares of LB Pharmaceuticals during the 3rd quarter worth about $27,000. Russell Investments Group Ltd. acquired a new stake in LB Pharmaceuticals during the fourth quarter worth approximately $34,000. Strs Ohio bought a new stake in shares of LB Pharmaceuticals during the fourth quarter worth approximately $76,000. Finally, Persistent Asset Partners Ltd bought a new stake in shares of LB Pharmaceuticals during the fourth quarter worth approximately $91,000.

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.