LB Pharmaceuticals (NASDAQ:LBRX) Upgraded at BMO Capital Markets

BMO Capital Markets upgraded shares of LB Pharmaceuticals (NASDAQ:LBRX) to a strong-buy rating in a research report released on Monday morning,Zacks.com reports.

A number of other equities research analysts also recently issued reports on LBRX. Wall Street Zen raised shares of LB Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Sunday, June 21st. Craig Hallum initiated coverage on shares of LB Pharmaceuticals in a report on Friday, April 10th. They issued a “buy” rating and a $36.00 target price on the stock. HC Wainwright restated a “buy” rating on shares of LB Pharmaceuticals in a research report on Monday, June 22nd. Roth Capital reaffirmed a “buy” rating and issued a $37.00 price target on shares of LB Pharmaceuticals in a report on Sunday, May 17th. Finally, Stifel Nicolaus boosted their price objective on LB Pharmaceuticals from $35.00 to $40.00 and gave the stock a “buy” rating in a research note on Friday, March 27th. Two investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $40.43.

LB Pharmaceuticals Trading Up 10.9%

NASDAQ:LBRX opened at $35.84 on Monday. LB Pharmaceuticals has a 12 month low of $13.36 and a 12 month high of $36.60. The business’s 50-day moving average is $30.29 and its 200 day moving average is $26.88. The company has a market capitalization of $1.03 billion and a P/E ratio of -20.72.

LB Pharmaceuticals (NASDAQ:LBRX) last issued its quarterly earnings data on Tuesday, May 12th. The company reported ($0.67) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.75) by $0.08. On average, research analysts forecast that LB Pharmaceuticals will post -3.58 earnings per share for the current year.

Institutional Investors Weigh In On LB Pharmaceuticals

Several hedge funds have recently made changes to their positions in the company. Jefferies Financial Group Inc. bought a new position in LB Pharmaceuticals during the 3rd quarter worth about $207,000. Landscape Capital Management L.L.C. acquired a new position in LB Pharmaceuticals during the 3rd quarter valued at about $168,000. Squarepoint Ops LLC purchased a new stake in LB Pharmaceuticals in the third quarter valued at about $329,000. Two Sigma Investments LP acquired a new stake in LB Pharmaceuticals in the third quarter worth about $213,000. Finally, Balyasny Asset Management L.P. purchased a new stake in shares of LB Pharmaceuticals during the third quarter worth about $15,289,000.

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.