LB Pharmaceuticals Inc (NASDAQ:LBRX) Stock Rated “Moderate Buy” by Sell-Side Brokerages

Shares of LB Pharmaceuticals Inc (NASDAQ:LBRX) have been assigned a consensus recommendation of “Moderate Buy” from the ten research firms that are currently covering the stock, Marketbeat reports. One analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, seven have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $49.62.

LBRX has been the topic of a number of recent research reports. Wolfe Research initiated coverage on LB Pharmaceuticals in a research report on Tuesday, July 7th. They set an “outperform” rating and a $45.00 price objective on the stock. Piper Sandler reiterated an “overweight” rating and issued a $78.00 target price on shares of LB Pharmaceuticals in a report on Monday, August 3rd. Weiss Ratings downgraded LB Pharmaceuticals from a “sell (d+)” rating to a “sell (d)” rating in a research report on Tuesday, August 11th. BMO Capital Markets raised their price target on LB Pharmaceuticals from $46.00 to $54.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 12th. Finally, Wall Street Zen lowered shares of LB Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Saturday, August 15th.

Hedge Funds Weigh In On LB Pharmaceuticals

A number of large investors have recently made changes to their positions in the company. Strs Ohio raised its position in LB Pharmaceuticals by 50.0% in the 1st quarter. Strs Ohio now owns 5,100 shares of the company’s stock worth $126,000 after purchasing an additional 1,700 shares during the period. Bank of New York Mellon Corp grew its stake in shares of LB Pharmaceuticals by 12.2% during the first quarter. Bank of New York Mellon Corp now owns 45,457 shares of the company’s stock valued at $1,121,000 after buying an additional 4,940 shares during the last quarter. Wellington Management Group LLP raised its holdings in shares of LB Pharmaceuticals by 11.9% in the second quarter. Wellington Management Group LLP now owns 58,891 shares of the company’s stock worth $1,911,000 after buying an additional 6,251 shares during the period. Meyer Handelman Co. purchased a new stake in shares of LB Pharmaceuticals in the first quarter worth approximately $372,000. Finally, Calamos Advisors LLC bought a new stake in shares of LB Pharmaceuticals during the 1st quarter worth approximately $593,000.

LB Pharmaceuticals Stock Down 3.5%

LB Pharmaceuticals stock opened at $37.80 on Friday. The company’s 50-day moving average price is $43.66 and its 200-day moving average price is $34.03. The company has a market cap of $1.22 billion and a PE ratio of -10.99. LB Pharmaceuticals has a twelve month low of $13.36 and a twelve month high of $50.16.

LB Pharmaceuticals (NASDAQ:LBRX) last announced its quarterly earnings results on Tuesday, August 11th. The company reported ($1.71) EPS for the quarter, missing analysts’ consensus estimates of ($0.84) by ($0.87). As a group, sell-side analysts expect that LB Pharmaceuticals will post -5.78 earnings per share for the current fiscal year.

About LB Pharmaceuticals

LB Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company focused on developing treatments for serious neuropsychiatric disorders. The company’s lead product candidate, LB-102, is a long-acting injectable antipsychotic being developed for the treatment of schizophrenia.

LB-102 is designed to provide sustained delivery of its active pharmaceutical ingredient and potentially support adherence compared with daily oral therapies. LB Pharmaceuticals is evaluating the candidate through clinical development intended to assess its safety, tolerability, pharmacokinetics and effectiveness in people with schizophrenia.

The company’s activities are centered on advancing its pipeline through clinical trials and regulatory development.