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

Shares of LB Pharmaceuticals Inc (NASDAQ:LBRX) have earned an average rating of “Moderate Buy” from the seven brokerages that are covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, four have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $35.25.

LBRX has been the subject of several recent research reports. Roth Mkm initiated coverage on LB Pharmaceuticals in a research report on Friday, January 9th. They set a “buy” rating and a $31.00 price objective for the company. Weiss Ratings reaffirmed a “sell (e)” rating on shares of LB Pharmaceuticals in a research report on Monday, December 29th. Stifel Nicolaus upped their price objective on LB Pharmaceuticals from $35.00 to $40.00 and gave the stock a “buy” rating in a research report on Friday, March 27th. Finally, Craig Hallum initiated coverage on LB Pharmaceuticals in a research report on Friday, April 10th. They set a “buy” rating and a $36.00 price objective for the company.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of LBRX. Deep Track Capital LP acquired a new position in shares of LB Pharmaceuticals during the third quarter worth about $52,941,000. RA Capital Management L.P. bought a new stake in LB Pharmaceuticals during the third quarter worth about $28,058,000. TCG Crossover Management LLC bought a new stake in LB Pharmaceuticals during the third quarter worth about $27,554,000. Commodore Capital LP bought a new stake in LB Pharmaceuticals during the third quarter worth about $23,685,000. Finally, JPMorgan Chase & Co. bought a new stake in LB Pharmaceuticals during the third quarter worth about $16,305,000.

LB Pharmaceuticals Stock Performance

NASDAQ:LBRX opened at $30.73 on Monday. LB Pharmaceuticals has a 1 year low of $13.36 and a 1 year high of $32.90. The stock has a market cap of $881.34 million and a price-to-earnings ratio of -28.99. The stock has a 50-day moving average price of $25.52 and a two-hundred day moving average price of $21.40.

LB Pharmaceuticals (NASDAQ:LBRX) last posted its quarterly earnings data on Thursday, March 26th. The company reported ($0.45) earnings per share for the quarter, hitting the consensus estimate of ($0.45). Sell-side analysts forecast that LB Pharmaceuticals will post -3.85 earnings per share for the current year.

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.