LB Pharmaceuticals Inc $LBRX Shares Newly Bought by Profund Advisors LLC

Profund Advisors LLC bought a new stake in shares of LB Pharmaceuticals Inc (NASDAQ:LBRX) in the 3rd quarter, Holdings Channel.com reports. The firm bought 28,203 shares of the company’s stock, valued at approximately $1,082,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Strs Ohio increased its stake 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. Calamos Advisors LLC bought a new stake in LB Pharmaceuticals in the first quarter valued at approximately $593,000. Sigma Planning Corp purchased a new stake in shares of LB Pharmaceuticals during the third quarter valued at approximately $1,151,000. Great Lakes Advisors LLC purchased a new stake in shares of LB Pharmaceuticals during the second quarter valued at approximately $987,000. Finally, Bank of New York Mellon Corp grew its holdings in shares of LB Pharmaceuticals by 12.2% in the first quarter. Bank of New York Mellon Corp now owns 45,457 shares of the company’s stock worth $1,121,000 after purchasing an additional 4,940 shares during the last quarter.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on LBRX shares. HC Wainwright reaffirmed a “buy” rating on shares of LB Pharmaceuticals in a research note on Monday, October 12th. Wall Street Zen raised shares of LB Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research report on Saturday. Canaccord Genuity Group started coverage on shares of LB Pharmaceuticals in a report on Friday, October 9th. They issued a “buy” rating and a $65.00 price target on the stock. Roth Capital lowered shares of LB Pharmaceuticals from a “buy” rating to a “neutral” rating and cut their price target for the stock from $37.00 to $35.00 in a report on Monday, October 5th. Finally, Wolfe Research assumed coverage on shares of LB Pharmaceuticals in a research report on Tuesday, July 7th. They issued an “outperform” rating and a $45.00 price objective on the stock. Ten research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, LB Pharmaceuticals has an average rating of “Moderate Buy” and a consensus price target of $57.40.

LB Pharmaceuticals Price Performance

Shares of LB Pharmaceuticals stock opened at $40.33 on Wednesday. LB Pharmaceuticals Inc has a 12-month low of $14.32 and a 12-month high of $50.16. The company’s fifty day simple moving average is $41.05 and its two-hundred day simple moving average is $32.66.

LB Pharmaceuticals (NASDAQ:LBRX) last released its quarterly earnings results on Tuesday, August 11th. The company reported ($1.71) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.84) by ($0.87). On average, equities analysts expect that LB Pharmaceuticals Inc will post -5.70 earnings per share for the current fiscal year.

LB Pharmaceuticals 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.