LB Pharmaceuticals Inc (NASDAQ:LBRX) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of LB Pharmaceuticals Inc (NASDAQ:LBRX) have earned an average recommendation of “Moderate Buy” from the six analysts that are presently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, three have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $33.3333.

A number of research firms have issued reports on LBRX. Roth Mkm started coverage on LB Pharmaceuticals in a research note on Friday, January 9th. They issued a “buy” rating and a $31.00 price objective on the stock. Stifel Nicolaus increased their price target on LB Pharmaceuticals from $27.00 to $35.00 and gave the stock a “buy” rating in a report on Thursday, December 11th. Finally, Weiss Ratings reiterated a “sell (e)” rating on shares of LB Pharmaceuticals in a report on Monday, December 29th.

LB Pharmaceuticals Price Performance

Shares of LB Pharmaceuticals stock opened at $23.78 on Friday. LB Pharmaceuticals has a fifty-two week low of $13.36 and a fifty-two week high of $25.60. The company has a market cap of $601.63 million and a P/E ratio of -38.98. The business has a fifty day moving average price of $22.49.

Institutional Trading of LB Pharmaceuticals

Several large investors have recently bought and sold shares of the stock. California State Teachers Retirement System acquired a new stake in LB Pharmaceuticals during the 4th quarter worth about $26,000. Russell Investments Group Ltd. acquired a new stake in shares of LB Pharmaceuticals in the fourth quarter valued at approximately $34,000. Bank of America Corp DE purchased a new position in LB Pharmaceuticals during the third quarter worth about $27,000. Strs Ohio purchased a new stake in shares of LB Pharmaceuticals during the 4th quarter valued at approximately $76,000. Finally, Persistent Asset Partners Ltd purchased a new position in LB Pharmaceuticals in the fourth quarter worth 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.