LB Pharmaceuticals Inc’s Lock-Up Period Will Expire on March 10th (NASDAQ:LBRX)

LB Pharmaceuticals’ (NASDAQ:LBRX) lock-up period is set to expire on Tuesday, March 10th. LB Pharmaceuticals had issued 19,000,000 shares in its initial public offering 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 LB Pharmaceuticals’ lock-up period, company insiders and major shareholders will be able to sell their shares of the company.

Analyst Ratings Changes

A number of brokerages have weighed in on LBRX. Weiss Ratings restated a “sell (e)” rating on shares of LB Pharmaceuticals in a report on Monday, December 29th. Roth Mkm started coverage on LB Pharmaceuticals in a research report on Friday, January 9th. They issued a “buy” rating and a $31.00 price target on the stock. Finally, Stifel Nicolaus raised their price objective on LB Pharmaceuticals from $27.00 to $35.00 and gave the company a “buy” rating in a research report on Thursday, December 11th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, LB Pharmaceuticals presently has an average rating of “Moderate Buy” and a consensus target price of $33.33.

LB Pharmaceuticals Stock Up 2.0%

Shares of LBRX opened at $24.40 on Thursday. LB Pharmaceuticals has a twelve month low of $13.36 and a twelve month high of $25.60. The company has a market capitalization of $617.32 million and a P/E ratio of -40.00. The firm’s 50 day moving average price is $22.41.

Institutional Investors Weigh In On LB Pharmaceuticals

Several institutional investors have recently modified their holdings of the business. California State Teachers Retirement System bought a new position in LB Pharmaceuticals during the 4th quarter valued at about $26,000. Jane Street Group LLC raised its holdings 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 valued at $706,000 after purchasing an additional 1,388 shares during the last quarter. Russell Investments Group Ltd. bought a new position in LB Pharmaceuticals during the fourth quarter valued at approximately $34,000. Bank of America Corp DE bought a new stake in LB Pharmaceuticals in the 3rd quarter worth approximately $27,000. Finally, Strs Ohio purchased a new stake in LB Pharmaceuticals during the 4th quarter valued at $76,000.

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.