LB Pharmaceuticals Inc (NASDAQ:LBRX) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of LB Pharmaceuticals Inc (NASDAQ:LBRX) have earned an average rating of “Moderate Buy” from the seven research firms that are currently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, four have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $33.3333.

Several research analysts have commented on LBRX shares. Piper Sandler began coverage on shares of LB Pharmaceuticals in a research note on Monday, October 6th. They set an “overweight” rating on the stock. Zacks Research raised shares of LB Pharmaceuticals to a “hold” rating in a report on Tuesday, October 7th. Stifel Nicolaus boosted their price target on shares of LB Pharmaceuticals from $27.00 to $35.00 and gave the stock a “buy” rating in a research note on Thursday, December 11th. Leerink Partners started coverage on shares of LB Pharmaceuticals in a research report on Monday, October 6th. They set an “outperform” rating and a $34.00 price target for the company. Finally, Weiss Ratings reiterated a “sell (e)” rating on shares of LB Pharmaceuticals in a report on Monday, December 29th.

Institutional Trading of LB Pharmaceuticals

A number of institutional investors have recently made changes to their positions in LBRX. Deep Track Capital LP purchased a new position in shares of LB Pharmaceuticals in the third quarter valued at about $52,941,000. RA Capital Management L.P. purchased a new stake in shares of LB Pharmaceuticals during the third quarter worth about $28,058,000. TCG Crossover Management LLC bought a new stake in shares of LB Pharmaceuticals in the third quarter worth about $27,554,000. Commodore Capital LP purchased a new position in LB Pharmaceuticals during the 3rd quarter valued at about $23,685,000. Finally, JPMorgan Chase & Co. purchased a new position in LB Pharmaceuticals during the 3rd quarter valued at about $16,305,000.

LB Pharmaceuticals Price Performance

LBRX opened at $19.97 on Friday. The stock has a market cap of $505.24 million and a PE ratio of -32.74. The business has a 50-day moving average price of $19.15. LB Pharmaceuticals has a 12-month low of $13.36 and a 12-month high of $23.15.

LB Pharmaceuticals (NASDAQ:LBRX) last released its earnings results on Thursday, November 6th. The company reported ($0.61) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.57) by ($0.04).

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.