Calamos Advisors LLC Makes New $593,000 Investment in LB Pharmaceuticals Inc $LBRX

Calamos Advisors LLC purchased a new stake in shares of LB Pharmaceuticals Inc (NASDAQ:LBRX) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 24,063 shares of the company’s stock, valued at approximately $593,000. Calamos Advisors LLC owned about 0.08% of LB Pharmaceuticals at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. California State Teachers Retirement System purchased a new stake in shares of LB Pharmaceuticals in the 4th quarter valued at $26,000. Bank of America Corp DE bought a new stake in LB Pharmaceuticals in the third quarter worth $27,000. Russell Investments Group Ltd. bought a new stake in LB Pharmaceuticals in the fourth quarter worth $34,000. Strs Ohio purchased a new stake in LB Pharmaceuticals during the fourth quarter valued at about $76,000. Finally, Persistent Asset Partners Ltd bought a new position in shares of LB Pharmaceuticals during the fourth quarter valued at about $91,000.

LB Pharmaceuticals Price Performance

LBRX opened at $30.59 on Friday. The business has a 50 day simple moving average of $30.24 and a two-hundred day simple moving average of $26.58. The firm has a market capitalization of $877.32 million and a price-to-earnings ratio of -17.68. LB Pharmaceuticals Inc has a one year low of $13.36 and a one year high of $35.35.

LB Pharmaceuticals (NASDAQ:LBRX) last issued its quarterly earnings data on Tuesday, May 12th. The company reported ($0.67) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.75) by $0.08. As a group, sell-side analysts expect that LB Pharmaceuticals Inc will post -3.58 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on LBRX. HC Wainwright reissued a “buy” rating on shares of LB Pharmaceuticals in a research note on Monday, June 22nd. Roth Capital restated a “buy” rating and set a $37.00 price target on shares of LB Pharmaceuticals in a research report on Sunday, May 17th. Wolfe Research started coverage on LB Pharmaceuticals in a research note on Tuesday, July 7th. They issued an “outperform” rating and a $45.00 price target on the stock. Craig Hallum began coverage on LB Pharmaceuticals in a research note on Friday, April 10th. They set a “buy” rating and a $36.00 price objective for the company. Finally, Weiss Ratings upgraded shares of LB Pharmaceuticals from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday, June 11th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $39.50.

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.