LB Pharmaceuticals Inc (NASDAQ:LBRX) Receives Average Rating of “Moderate Buy” from Brokerages

LB Pharmaceuticals Inc (NASDAQ:LBRX) has received a consensus rating of “Moderate Buy” from the eight analysts that are currently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, one has issued a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $38.40.

Several equities analysts recently issued reports on the company. HC Wainwright restated a “buy” rating on shares of LB Pharmaceuticals in a research note on Tuesday, May 26th. Wall Street Zen lowered LB Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Saturday. Weiss Ratings upgraded LB Pharmaceuticals from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday. Roth Mkm reiterated a “buy” rating and issued a $37.00 price objective on shares of LB Pharmaceuticals in a research note on Sunday, May 17th. Finally, Craig Hallum assumed coverage on LB Pharmaceuticals in a research note on Friday, April 10th. They issued a “buy” rating and a $36.00 price objective on the stock.

LB Pharmaceuticals Stock Up 0.3%

Shares of LBRX opened at $28.50 on Tuesday. LB Pharmaceuticals has a 12-month low of $13.36 and a 12-month high of $33.47. The firm has a market capitalization of $817.38 million and a price-to-earnings ratio of -16.47. The stock’s 50-day moving average price is $29.09 and its 200 day moving average price is $24.66.

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

Institutional Investors Weigh In On LB Pharmaceuticals

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