LB Pharmaceuticals (NASDAQ:LBRX) Hits New 12-Month High – Still a Buy?

LB Pharmaceuticals Inc (NASDAQ:LBRX)’s stock price hit a new 52-week high on Wednesday . The stock traded as high as $49.77 and last traded at $49.4160, with a volume of 221 shares traded. The stock had previously closed at $48.77.

Analysts Set New Price Targets

A number of research analysts recently issued reports on LBRX shares. Piper Sandler restated an “overweight” rating and set a $78.00 target price on shares of LB Pharmaceuticals in a research report on Monday, August 3rd. Roth Capital reiterated a “buy” rating and set a $37.00 price objective on shares of LB Pharmaceuticals in a research note on Sunday, May 17th. Weiss Ratings cut LB Pharmaceuticals from a “sell (d+)” rating to a “sell (d)” rating in a report on Tuesday, August 11th. Stifel Nicolaus set a $53.00 target price on LB Pharmaceuticals in a research note on Thursday, August 13th. Finally, BMO Capital Markets raised their target price on LB Pharmaceuticals from $46.00 to $54.00 and gave the stock an “outperform” rating in a report on Wednesday, August 12th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, LB Pharmaceuticals currently has a consensus rating of “Moderate Buy” and an average target price of $47.75.

LB Pharmaceuticals Price Performance

The business’s fifty day simple moving average is $36.53 and its two-hundred day simple moving average is $30.16. The company has a market cap of $1.52 billion and a PE ratio of -13.73.

LB Pharmaceuticals (NASDAQ:LBRX) last posted its earnings results on Tuesday, August 11th. The company reported ($1.71) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.84) by ($0.87). As a group, analysts predict that LB Pharmaceuticals Inc will post -4.67 EPS for the current year.

Institutional Trading of LB Pharmaceuticals

Several institutional investors have recently bought and sold shares of the business. Spruce Street Capital LP purchased a new position in LB Pharmaceuticals during the fourth quarter valued at $22,384,000. Stempoint Capital LP acquired a new position in shares of LB Pharmaceuticals during the 1st quarter worth about $1,233,000. Janus Henderson Group PLC acquired a new position in shares of LB Pharmaceuticals during the 1st quarter worth about $1,613,000. Jennison Associates LLC lifted its stake in LB Pharmaceuticals by 11.2% in the 4th quarter. Jennison Associates LLC now owns 821,852 shares of the company’s stock valued at $18,294,000 after buying an additional 82,812 shares in the last quarter. Finally, Eversept Partners LP acquired a new stake in LB Pharmaceuticals in the 1st quarter worth about $2,471,000.

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.