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

Shares of LB Pharmaceuticals Inc (NASDAQ:LBRX) have earned an average recommendation of “Moderate Buy” from the six analysts that are covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, one has given a hold recommendation, three have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $34.50.

Several brokerages recently commented on LBRX. Weiss Ratings reiterated a “sell (e)” rating on shares of LB Pharmaceuticals in a report on Monday, December 22nd. Leerink Partners started coverage on LB Pharmaceuticals in a research note on Monday, October 6th. They issued an “outperform” rating and a $34.00 price objective on the stock. Piper Sandler started coverage on LB Pharmaceuticals in a research note on Monday, October 6th. They set an “overweight” rating for the company. Zacks Research raised LB Pharmaceuticals to a “hold” rating in a research report on Tuesday, October 7th. Finally, Stifel Nicolaus upped their price target on LB Pharmaceuticals from $27.00 to $35.00 and gave the stock a “buy” rating in a report on Thursday, December 11th.

LB Pharmaceuticals Price Performance

LBRX opened at $21.40 on Tuesday. The stock has a 50 day moving average of $17.86. LB Pharmaceuticals has a twelve month low of $13.36 and a twelve month high of $23.15.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in LBRX. Federated Hermes Inc. acquired a new position in shares of LB Pharmaceuticals during the third quarter valued at about $142,000. JPMorgan Chase & Co. bought a new stake in shares of LB Pharmaceuticals in the 3rd quarter worth approximately $16,305,000. TD Asset Management Inc acquired a new stake in shares of LB Pharmaceuticals during the 3rd quarter worth approximately $581,000. Monashee Investment Management LLC bought a new stake in shares of LB Pharmaceuticals during the third quarter valued at approximately $632,000. Finally, Jefferies Financial Group Inc. acquired a new position in shares of LB Pharmaceuticals in the third quarter valued at $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.