LB Pharmaceuticals Inc (NASDAQ:LBRX) Receives $39.50 Average PT from Analysts

LB Pharmaceuticals Inc (NASDAQ:LBRX) has been given a consensus recommendation of “Moderate Buy” by the nine analysts that are presently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell rating, one has given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $39.50.

A number of research analysts have issued reports on the stock. HC Wainwright reaffirmed a “buy” rating on shares of LB Pharmaceuticals in a report on Monday, June 22nd. Wall Street Zen raised shares of LB Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Sunday, June 21st. Craig Hallum initiated coverage on LB Pharmaceuticals in a research report on Friday, April 10th. They issued a “buy” rating and a $36.00 target price on the stock. Stifel Nicolaus raised their target price on LB Pharmaceuticals from $35.00 to $40.00 and gave the stock a “buy” rating in a research note on Friday, March 27th. Finally, Wolfe Research assumed coverage on LB Pharmaceuticals in a research report on Tuesday, July 7th. They set an “outperform” rating and a $45.00 price target for the company.

Institutional Investors Weigh In On LB Pharmaceuticals

A number of institutional investors and hedge funds have recently modified their holdings of the company. Spruce Street Capital LP purchased a new position in shares of LB Pharmaceuticals during the 4th quarter valued at approximately $22,384,000. JPMorgan Chase & Co. purchased a new stake in LB Pharmaceuticals during the third quarter worth $16,305,000. Boxer Capital Management LLC purchased a new stake in LB Pharmaceuticals during the third quarter worth $1,105,000. Nan Fung Group Holdings Ltd purchased a new position in LB Pharmaceuticals in the third quarter valued at $4,737,000. Finally, Commodore Capital LP purchased a new position in LB Pharmaceuticals in the third quarter valued at $23,685,000.

LB Pharmaceuticals Stock Performance

Shares of LBRX stock opened at $32.02 on Friday. LB Pharmaceuticals has a fifty-two week low of $13.36 and a fifty-two week high of $35.35. The firm has a market capitalization of $918.33 million and a price-to-earnings ratio of -18.51. The stock’s 50-day simple moving average is $30.27 and its 200-day simple moving average is $26.44.

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

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.