LB Pharmaceuticals Inc (NASDAQ:LBRX) Receives Consensus Recommendation of “Buy” from Analysts

Shares of LB Pharmaceuticals Inc (NASDAQ:LBRX) have been assigned an average rating of “Buy” from the five ratings firms that are covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $30.50.

A number of research firms recently weighed in on LBRX. Stifel Nicolaus began coverage on shares of LB Pharmaceuticals in a research report on Monday, October 6th. They issued a “buy” rating and a $27.00 target price for the company. Wall Street Zen raised shares of LB Pharmaceuticals to a “hold” rating in a research report on Monday, September 22nd. Piper Sandler initiated coverage on shares of LB Pharmaceuticals in a research report on Monday, October 6th. They issued an “overweight” rating for the company. Leerink Partnrs upgraded shares of LB Pharmaceuticals to a “strong-buy” rating in a research note on Monday, October 6th. Finally, Zacks Research upgraded shares of LB Pharmaceuticals to a “hold” rating in a research note on Tuesday, October 7th.

LB Pharmaceuticals Stock Down 0.9%

Shares of NASDAQ LBRX opened at $16.13 on Monday. LB Pharmaceuticals has a 1-year low of $13.36 and a 1-year high of $20.25.

Insider Activity

In related news, Director Ran Nussbaum bought 1,000,000 shares of the business’s stock in a transaction dated Friday, September 12th. The stock was bought at an average price of $15.00 per share, for a total transaction of $15,000,000.00. Following the purchase, the director owned 1,411,681 shares in the company, valued at $21,175,215. This represents a 242.91% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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.