LB Pharmaceuticals (NASDAQ:LBRX) Upgraded at Wall Street Zen

LB Pharmaceuticals (NASDAQ:LBRX) was upgraded by stock analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued to investors on Sunday.

Several other research analysts have also weighed in on LBRX. 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. HC Wainwright reissued a “buy” rating on shares of LB Pharmaceuticals in a research report on Tuesday, May 26th. Roth Mkm restated a “buy” rating and set a $37.00 price target on shares of LB Pharmaceuticals in a research note on Sunday, May 17th. Weiss Ratings upgraded LB Pharmaceuticals from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday, June 11th. Finally, Stifel Nicolaus lifted their price objective on LB Pharmaceuticals from $35.00 to $40.00 and gave the company a “buy” rating in a research note on Friday, March 27th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, LB Pharmaceuticals presently has an average rating of “Moderate Buy” and an average target price of $38.40.

LB Pharmaceuticals Stock Up 0.1%

NASDAQ:LBRX opened at $30.03 on Friday. The company has a market cap of $861.38 million and a P/E ratio of -17.36. LB Pharmaceuticals has a fifty-two week low of $13.36 and a fifty-two week high of $33.47. The firm’s 50 day moving average is $29.37 and its two-hundred day moving average is $24.96.

LB Pharmaceuticals (NASDAQ:LBRX) last announced its quarterly earnings results on Tuesday, May 12th. The company reported ($0.67) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.75) by $0.08. Research analysts forecast that LB Pharmaceuticals will post -3.58 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of LBRX. California State Teachers Retirement System purchased a new stake in LB Pharmaceuticals during the 4th quarter worth approximately $26,000. Jane Street Group LLC grew its position in shares of LB Pharmaceuticals by 4.6% during the fourth quarter. Jane Street Group LLC now owns 31,733 shares of the company’s stock worth $706,000 after buying an additional 1,388 shares in the last quarter. Russell Investments Group Ltd. bought a new stake in shares of LB Pharmaceuticals in the fourth quarter worth $34,000. Strs Ohio increased its stake in shares of LB Pharmaceuticals by 50.0% in the first quarter. Strs Ohio now owns 5,100 shares of the company’s stock worth $126,000 after buying an additional 1,700 shares during the last quarter. Finally, Bank of America Corp DE acquired a new stake in LB Pharmaceuticals in the third quarter valued at $27,000.

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.