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

Shares of LB Pharmaceuticals Inc (NASDAQ:LBRX) have been given a consensus rating of “Moderate Buy” by the ten brokerages that are presently covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell rating, one has issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $49.6250.

Several research analysts have recently weighed in on the stock. Stifel Nicolaus set a $53.00 price objective on shares of LB Pharmaceuticals in a research note on Thursday, August 13th. Wolfe Research initiated coverage on LB Pharmaceuticals in a research note on Tuesday, July 7th. They set an “outperform” rating and a $45.00 target price on the stock. Piper Sandler reiterated an “overweight” rating and issued a $78.00 price objective on shares of LB Pharmaceuticals in a research note on Monday, August 3rd. Roth Capital reaffirmed a “buy” rating and issued a $37.00 price objective on shares of LB Pharmaceuticals in a report on Sunday, May 17th. Finally, HC Wainwright upped their target price on LB Pharmaceuticals from $45.00 to $60.00 and gave the company a “buy” rating in a research report on Monday, August 24th.

Institutional Investors Weigh In On LB Pharmaceuticals

A number of large investors have recently bought and sold shares of LBRX. Jefferies Financial Group Inc. acquired a new position in shares of LB Pharmaceuticals in the 3rd quarter valued at approximately $207,000. Landscape Capital Management L.L.C. acquired a new stake in shares of LB Pharmaceuticals during the 3rd quarter worth approximately $168,000. Squarepoint Ops LLC bought a new position in LB Pharmaceuticals in the third quarter valued at approximately $329,000. Two Sigma Investments LP acquired a new position in LB Pharmaceuticals during the third quarter valued at approximately $213,000. Finally, Balyasny Asset Management L.P. bought a new stake in LB Pharmaceuticals during the third quarter worth $15,289,000.

LB Pharmaceuticals Price Performance

LBRX stock opened at $47.73 on Monday. The company has a market cap of $1.54 billion and a price-to-earnings ratio of -13.87. LB Pharmaceuticals has a twelve month low of $13.36 and a twelve month high of $50.16. The business has a 50 day moving average price of $38.81 and a two-hundred day moving average price of $31.22.

LB Pharmaceuticals (NASDAQ:LBRX) last released its quarterly earnings data on Tuesday, August 11th. The company reported ($1.71) EPS for the quarter, missing the consensus estimate of ($0.84) by ($0.87). On average, equities research analysts anticipate that LB Pharmaceuticals will post -5.16 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.