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

LB Pharmaceuticals Inc (NASDAQ:LBRX) has received a consensus rating of “Moderate Buy” from the thirteen ratings firms that are covering the company, Marketbeat reports. Two research analysts have rated the stock with a sell rating, one has given a hold rating and ten have issued a buy rating on the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $57.40.

Several equities research analysts recently weighed in on LBRX shares. Needham & Company LLC assumed coverage on LB Pharmaceuticals in a research note on Friday, October 2nd. They set a “buy” rating and a $68.00 target price for the company. Piper Sandler reaffirmed an “overweight” rating and issued a $78.00 price target on shares of LB Pharmaceuticals in a report on Monday, August 3rd. HC Wainwright reiterated a “buy” rating on shares of LB Pharmaceuticals in a research note on Monday, October 12th. Stifel Nicolaus set a $53.00 price objective on shares of LB Pharmaceuticals in a report on Thursday, August 13th. Finally, Wall Street Zen downgraded shares of LB Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research report on Saturday, October 3rd.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Spruce Street Capital LP lifted its position in LB Pharmaceuticals by 36.9% in the first quarter. Spruce Street Capital LP now owns 1,376,159 shares of the company’s stock valued at $33,645,000 after acquiring an additional 370,566 shares during the last quarter. Eversept Partners LP purchased a new position in shares of LB Pharmaceuticals during the first quarter worth about $2,471,000. Janus Henderson Group PLC purchased a new position in shares of LB Pharmaceuticals during the first quarter worth about $1,613,000. Wellington Management Group LLP increased its position in shares of LB Pharmaceuticals by 11.9% during the second quarter. Wellington Management Group LLP now owns 58,891 shares of the company’s stock worth $1,911,000 after purchasing an additional 6,251 shares in the last quarter. Finally, Bank of New York Mellon Corp acquired a new stake in shares of LB Pharmaceuticals during the second quarter worth about $1,784,000.

LB Pharmaceuticals Price Performance

LB Pharmaceuticals stock opened at $39.34 on Tuesday. The stock has a market cap of $1.27 billion and a PE ratio of -11.44. The stock’s fifty day moving average is $42.18 and its two-hundred day moving average is $31.97. LB Pharmaceuticals has a 1-year low of $14.32 and a 1-year high of $50.16.

LB Pharmaceuticals (NASDAQ:LBRX) last released its quarterly earnings data 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). On average, research analysts expect that LB Pharmaceuticals will post -5.70 earnings per share for the current fiscal year.

LB Pharmaceuticals Company Profile

LB Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company focused on developing treatments for neuropsychiatric disorders. The company’s lead product candidate, LB-102, is an investigational oral therapy being developed for schizophrenia and potentially other conditions involving serious disturbances in mood, thought and behavior.

LB-102 is designed as a prodrug of amisulpride, an antipsychotic compound that has been approved in certain markets outside the United States but is not approved by the U.S.