Craig Hallum Initiates Coverage on LB Pharmaceuticals (NASDAQ:LBRX)

Investment analysts at Craig Hallum initiated coverage on shares of LB Pharmaceuticals (NASDAQ:LBRX) in a research note issued on Friday, MarketBeat reports. The firm set a “buy” rating and a $36.00 price target on the stock. Craig Hallum’s price target indicates a potential upside of 47.90% from the stock’s previous close.

Other analysts have also issued reports about the stock. Stifel Nicolaus lifted their price target on shares of LB Pharmaceuticals from $35.00 to $40.00 and gave the stock a “buy” rating in a research note on Friday, March 27th. Roth Mkm assumed coverage on shares of LB Pharmaceuticals in a research note on Friday, January 9th. They issued a “buy” rating and a $31.00 price target for the company. Finally, Weiss Ratings reiterated a “sell (e)” rating on shares of LB Pharmaceuticals in a research note on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $35.25.

LB Pharmaceuticals Stock Down 7.4%

Shares of LBRX stock opened at $24.34 on Friday. The company has a 50 day moving average price of $24.26 and a 200-day moving average price of $20.35. LB Pharmaceuticals has a 52 week low of $13.36 and a 52 week high of $27.55. The firm has a market capitalization of $697.83 million and a PE ratio of -22.96.

LB Pharmaceuticals (NASDAQ:LBRX) last announced its quarterly earnings results on Thursday, March 26th. The company reported ($0.45) EPS for the quarter, hitting analysts’ consensus estimates of ($0.45).

Hedge Funds Weigh In On LB Pharmaceuticals

Institutional investors and hedge funds have recently made changes to their positions in the business. California State Teachers Retirement System purchased a new position in shares of LB Pharmaceuticals in the fourth quarter worth approximately $26,000. Russell Investments Group Ltd. purchased a new position in shares of LB Pharmaceuticals in the fourth quarter worth approximately $34,000. Bank of America Corp DE purchased a new position in shares of LB Pharmaceuticals in the third quarter worth approximately $27,000. Strs Ohio purchased a new position in shares of LB Pharmaceuticals in the fourth quarter worth approximately $76,000. Finally, Persistent Asset Partners Ltd purchased a new position in shares of LB Pharmaceuticals in 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.