LB Pharmaceuticals (NASDAQ:LBRX) Upgraded to “Strong-Buy” at Leerink Partnrs

LB Pharmaceuticals (NASDAQ:LBRX) was upgraded by stock analysts at Leerink Partnrs to a “strong-buy” rating in a note issued to investors on Monday,Zacks.com reports.

LBRX has been the topic of a number of other research reports. Piper Sandler initiated coverage on LB Pharmaceuticals in a report on Monday. They set an “overweight” rating on the stock. Stifel Nicolaus initiated coverage on LB Pharmaceuticals in a research note on Monday. They set a “buy” rating and a $27.00 price objective on the stock. Leerink Partners began coverage on shares of LB Pharmaceuticals in a research note on Monday. They issued an “outperform” rating and a $34.00 target price for the company. Finally, Wall Street Zen upgraded shares of LB Pharmaceuticals to a “hold” rating in a report on Monday, September 22nd. One research analyst has rated the stock with a Strong Buy rating and three have assigned a Buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $30.50.

LB Pharmaceuticals Stock Performance

Shares of NASDAQ LBRX opened at $15.14 on Monday. LB Pharmaceuticals has a 12-month low of $13.36 and a 12-month high of $20.25.

Insider Activity

In related news, Director Ran Nussbaum bought 1,000,000 shares of the firm’s stock in a transaction that occurred on Friday, September 12th. The shares were acquired at an average cost of $15.00 per share, with a total value of $15,000,000.00. Following the completion of the transaction, the director owned 1,411,681 shares of the company’s stock, valued at approximately $21,175,215. The trade was a 242.91% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

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.