LB Pharmaceuticals Inc’s (NASDAQ:LBRX) Lock-Up Period Set To End on March 10th

LB Pharmaceuticals’ (NASDAQ:LBRX) lock-up period will end on Tuesday, March 10th. LB Pharmaceuticals had issued 19,000,000 shares in its IPO on September 11th. The total size of the offering was $285,000,000 based on an initial share price of $15.00. After the expiration of the company’s lock-up period, major shareholders and company insiders will be able to sell their shares of the company.

Analyst Ratings Changes

LBRX has been the subject of several analyst reports. Weiss Ratings reissued a “sell (e)” rating on shares of LB Pharmaceuticals in a research note on Monday, December 29th. Stifel Nicolaus increased their price target on shares of LB Pharmaceuticals from $27.00 to $35.00 and gave the company a “buy” rating in a research note on Thursday, December 11th. Finally, Roth Mkm began coverage on shares of LB Pharmaceuticals in a research note on Friday, January 9th. They set a “buy” rating and a $31.00 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $33.33.

LB Pharmaceuticals Price Performance

LBRX stock opened at $23.78 on Tuesday. LB Pharmaceuticals has a 1-year low of $13.36 and a 1-year high of $25.60. The business’s 50 day simple moving average is $22.33. The firm has a market cap of $601.61 million and a price-to-earnings ratio of -38.98.

Institutional Trading of LB Pharmaceuticals

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

LB Pharmaceuticals Company Profile

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.