LB Pharmaceuticals Inc (NASDAQ:LBRX) Receives $45.12 Average Target Price from Analysts

Shares of LB Pharmaceuticals Inc (NASDAQ:LBRX) have earned a consensus rating of “Moderate Buy” from the ten research firms that are covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell rating, one has given a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $45.1250.

A number of brokerages have recently weighed in on LBRX. Weiss Ratings upgraded LB Pharmaceuticals from a “sell (d-)” rating to a “sell (d+)” rating in a report on Friday, July 24th. Wall Street Zen upgraded LB Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Sunday, June 21st. HC Wainwright reiterated a “buy” rating and set a $45.00 target price on shares of LB Pharmaceuticals in a research note on Monday, August 3rd. Piper Sandler reissued an “overweight” rating and set a $78.00 target price on shares of LB Pharmaceuticals in a report on Monday, August 3rd. Finally, Wolfe Research initiated coverage on shares of LB Pharmaceuticals in a report on Tuesday, July 7th. They issued an “outperform” rating and a $45.00 price target for the company.

Hedge Funds Weigh In On LB Pharmaceuticals

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. California State Teachers Retirement System acquired a new stake in shares of LB Pharmaceuticals during the 4th quarter worth approximately $26,000. Bank of America Corp DE acquired a new position in LB Pharmaceuticals during the 3rd quarter valued at approximately $27,000. Russell Investments Group Ltd. bought a new position in LB Pharmaceuticals during the 4th quarter worth $34,000. Strs Ohio acquired a new stake in LB Pharmaceuticals in the fourth quarter worth $76,000. Finally, Persistent Asset Partners Ltd acquired a new stake in LB Pharmaceuticals in the fourth quarter worth $91,000.

LB Pharmaceuticals Stock Performance

NASDAQ:LBRX opened at $45.85 on Thursday. The company has a market capitalization of $1.31 billion and a price-to-earnings ratio of -26.50. LB Pharmaceuticals has a one year low of $13.36 and a one year high of $49.14. The stock has a 50-day simple moving average of $33.61 and a 200 day simple moving average of $28.78.

LB Pharmaceuticals (NASDAQ:LBRX) last announced its quarterly earnings data on Tuesday, May 12th. The company reported ($0.67) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.75) by $0.08. On average, equities research analysts forecast that LB Pharmaceuticals will post -3.55 EPS for the current fiscal year.

About LB Pharmaceuticals

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.