LB Pharmaceuticals Inc (NASDAQ:LBRX) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of LB Pharmaceuticals Inc (NASDAQ:LBRX) have been given an average rating of “Moderate Buy” by the six brokerages that are currently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, three have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $33.3333.

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

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Federated Hermes Inc. purchased a new stake in shares of LB Pharmaceuticals in the 3rd quarter worth about $142,000. JPMorgan Chase & Co. bought a new position in LB Pharmaceuticals in the third quarter worth about $16,305,000. TD Asset Management Inc purchased a new stake in LB Pharmaceuticals in the third quarter worth about $581,000. Monashee Investment Management LLC bought a new stake in LB Pharmaceuticals during the 3rd quarter valued at approximately $632,000. Finally, Jefferies Financial Group Inc. purchased a new position in shares of LB Pharmaceuticals during the 3rd quarter worth approximately $207,000.

LB Pharmaceuticals Trading Up 1.0%

Shares of NASDAQ LBRX opened at $24.22 on Wednesday. The business has a fifty day moving average price of $21.28. LB Pharmaceuticals has a 52 week low of $13.36 and a 52 week high of $24.95. The stock has a market capitalization of $612.77 million and a P/E ratio of -39.70.

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.