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

Shares of LB Pharmaceuticals Inc (NASDAQ:LBRX) have earned an average rating of “Moderate Buy” from the six brokerages that are presently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, three have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $35.00.

Several brokerages recently issued reports on LBRX. Stifel Nicolaus upped their price target on LB Pharmaceuticals from $35.00 to $40.00 and gave the stock a “buy” rating in a report on Friday, March 27th. Roth Mkm initiated coverage on shares of LB Pharmaceuticals in a report on Friday, January 9th. They set a “buy” rating and a $31.00 price objective on the stock. Finally, Weiss Ratings reiterated a “sell (e)” rating on shares of LB Pharmaceuticals in a research note on Monday, December 29th.

Institutional Investors Weigh In On LB Pharmaceuticals

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. California State Teachers Retirement System bought a new position in shares of LB Pharmaceuticals during the 4th quarter worth approximately $26,000. Bank of America Corp DE bought a new position in shares of LB Pharmaceuticals in the third quarter valued at approximately $27,000. Russell Investments Group Ltd. purchased a new stake in shares of LB Pharmaceuticals during the fourth quarter valued at approximately $34,000. Strs Ohio bought a new stake in LB Pharmaceuticals during the fourth quarter worth $76,000. Finally, Persistent Asset Partners Ltd purchased a new position in LB Pharmaceuticals in the fourth quarter worth $91,000.

LB Pharmaceuticals Price Performance

LBRX stock opened at $24.81 on Thursday. The company’s 50-day moving average is $23.78. The firm has a market cap of $711.30 million and a P/E ratio of -40.67. LB Pharmaceuticals has a 52-week low of $13.36 and a 52-week high of $27.55.

LB Pharmaceuticals (NASDAQ:LBRX) last issued its quarterly earnings data on Thursday, March 26th. The company reported ($0.45) EPS for the quarter, hitting the consensus estimate of ($0.45).

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.