LB Pharmaceuticals Inc (NASDAQ:LBRX) Receives Consensus Rating of “Moderate Buy” from Brokerages

LB Pharmaceuticals Inc (NASDAQ:LBRX) has been assigned a consensus recommendation of “Moderate Buy” from the eight brokerages that are currently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell rating, one has assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $38.40.

A number of brokerages have weighed in on LBRX. HC Wainwright reiterated a “buy” rating on shares of LB Pharmaceuticals in a research note on Monday. Roth Mkm reissued a “buy” rating and set a $37.00 price objective on shares of LB Pharmaceuticals in a research report on Sunday, May 17th. Wall Street Zen raised shares of LB Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Sunday. Weiss Ratings raised shares of LB Pharmaceuticals from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday, June 11th. Finally, Stifel Nicolaus boosted their price objective on shares of LB Pharmaceuticals from $35.00 to $40.00 and gave the company a “buy” rating in a research report on Friday, March 27th.

LB Pharmaceuticals Trading Down 0.4%

Shares of LBRX opened at $29.87 on Tuesday. The firm has a market cap of $856.67 million and a PE ratio of -17.27. The firm has a fifty day simple moving average of $29.44 and a two-hundred day simple moving average of $25.09. LB Pharmaceuticals has a 1-year low of $13.36 and a 1-year high of $33.47.

LB Pharmaceuticals (NASDAQ:LBRX) last announced its earnings results on Tuesday, May 12th. The company reported ($0.67) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.75) by $0.08. As a group, research analysts forecast that LB Pharmaceuticals will post -3.58 EPS for the current fiscal year.

Institutional Investors Weigh In On LB Pharmaceuticals

Hedge funds have recently modified their holdings of the business. California State Teachers Retirement System bought a new stake in shares of LB Pharmaceuticals during the 4th quarter valued at $26,000. Bank of America Corp DE bought a new stake in shares of LB Pharmaceuticals during the 3rd quarter valued at $27,000. Russell Investments Group Ltd. bought a new stake in shares of LB Pharmaceuticals during the 4th quarter valued at $34,000. Strs Ohio bought a new stake in shares of LB Pharmaceuticals during the 4th quarter valued at $76,000. Finally, Persistent Asset Partners Ltd bought a new position in LB Pharmaceuticals in the 4th quarter worth $91,000.

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.