LB Pharmaceuticals (NASDAQ:LBRX) Stock Price Up 7.7% – Time to Buy?

LB Pharmaceuticals Inc (NASDAQ:LBRX)’s share price was up 7.7% during mid-day trading on Thursday . The stock traded as high as $20.86 and last traded at $20.86. Approximately 201,721 shares were traded during mid-day trading, a decline of 19% from the average daily volume of 249,428 shares. The stock had previously closed at $19.36.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on LBRX shares. Piper Sandler began coverage on shares of LB Pharmaceuticals in a research report on Monday, October 6th. They set an “overweight” rating for the company. Stifel Nicolaus increased their target price on LB Pharmaceuticals from $27.00 to $35.00 and gave the company a “buy” rating in a research note on Thursday, December 11th. Leerink Partners initiated coverage on LB Pharmaceuticals in a research report on Monday, October 6th. They set an “outperform” rating and a $34.00 price target on the stock. Roth Capital initiated coverage on LB Pharmaceuticals in a report on Friday, January 9th. They issued a “buy” rating and a $31.00 price target for the company. Finally, Weiss Ratings reiterated a “sell (e)” rating on shares of LB Pharmaceuticals in a research note on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $33.33.

LB Pharmaceuticals Trading Up 10.4%

The company has a 50-day moving average of $18.94. The company has a market capitalization of $540.89 million and a price-to-earnings ratio of -35.05.

LB Pharmaceuticals (NASDAQ:LBRX) last posted its quarterly earnings data on Thursday, November 6th. The company reported ($0.61) EPS for the quarter, missing analysts’ consensus estimates of ($0.57) by ($0.04).

Institutional Investors Weigh In On LB Pharmaceuticals

Several institutional investors and hedge funds have recently made changes to their positions in LBRX. Bank of America Corp DE acquired a new stake in shares of LB Pharmaceuticals during the third quarter worth $27,000. SG Americas Securities LLC acquired a new stake in LB Pharmaceuticals during the fourth quarter worth about $143,000. Federated Hermes Inc. bought a new position in LB Pharmaceuticals in the third quarter worth about $142,000. Landscape Capital Management L.L.C. acquired a new position in LB Pharmaceuticals in the third quarter valued at approximately $168,000. Finally, Jefferies Financial Group Inc. bought a new position in shares of LB Pharmaceuticals during the third quarter valued at approximately $207,000.

LB Pharmaceuticals Company Profile

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.