LB Pharmaceuticals (NASDAQ:LBRX) Now Covered by Analysts at Wolfe Research

Stock analysts at Wolfe Research assumed coverage on shares of LB Pharmaceuticals (NASDAQ:LBRX) in a note issued to investors on Tuesday,Benzinga reports. The brokerage set an “outperform” rating and a $45.00 price target on the stock. Wolfe Research’s target price suggests a potential upside of 34.69% from the company’s previous close.

Several other research firms have also weighed in on LBRX. Craig Hallum started 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. Wall Street Zen upgraded shares of LB Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Sunday, June 21st. HC Wainwright reiterated a “buy” rating on shares of LB Pharmaceuticals in a research report on Monday, June 22nd. Roth Mkm reissued a “buy” rating and set a $37.00 target price on shares of LB Pharmaceuticals in a research note on Sunday, May 17th. Finally, Weiss Ratings upgraded LB Pharmaceuticals from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday, June 11th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $39.50.

LB Pharmaceuticals Price Performance

Shares of LBRX stock opened at $33.41 on Tuesday. LB Pharmaceuticals has a 52-week low of $13.36 and a 52-week high of $34.29. The business has a 50-day simple moving average of $30.06 and a 200-day simple moving average of $25.93.

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 the consensus estimate of ($0.75) by $0.08. As a group, sell-side analysts expect that LB Pharmaceuticals will post -3.58 EPS for the current year.

Hedge Funds Weigh In On LB Pharmaceuticals

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. California State Teachers Retirement System acquired a new stake in shares of LB Pharmaceuticals in the fourth quarter valued at about $26,000. Bank of America Corp DE purchased a new position in LB Pharmaceuticals in the 3rd quarter valued at about $27,000. Russell Investments Group Ltd. purchased a new position in LB Pharmaceuticals in the 4th quarter valued at about $34,000. Strs Ohio purchased a new stake in LB Pharmaceuticals during the 4th quarter worth approximately $76,000. Finally, Persistent Asset Partners Ltd purchased a new position in shares of LB Pharmaceuticals in the fourth quarter valued at approximately $91,000.

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.