Brokerages Set LB Pharmaceuticals Inc (NASDAQ:LBRX) Price Target at $35.00

Shares of LB Pharmaceuticals Inc (NASDAQ:LBRX) have been given an average rating of “Moderate Buy” by the six research firms that are covering the stock, MarketBeat reports. One analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, three have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $35.00.

A number of equities research analysts have recently issued reports on the company. Stifel Nicolaus upped their price objective on LB Pharmaceuticals from $35.00 to $40.00 and gave the stock a “buy” rating in a research note on Friday, March 27th. Roth Mkm began coverage on shares of LB Pharmaceuticals in a report on Friday, January 9th. They set a “buy” rating and a $31.00 target price on the stock. Finally, Weiss Ratings reaffirmed a “sell (e)” rating on shares of LB Pharmaceuticals in a research report on Monday, December 29th.

LB Pharmaceuticals Stock Performance

Shares of NASDAQ:LBRX opened at $25.69 on Thursday. The business’s 50 day simple moving average is $23.86. The firm has a market cap of $736.53 million and a PE ratio of -24.24. LB Pharmaceuticals has a one year low of $13.36 and a one year high of $27.55.

LB Pharmaceuticals (NASDAQ:LBRX) last released its earnings results on Thursday, March 26th. The company reported ($0.45) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.45).

Hedge Funds Weigh In On LB Pharmaceuticals

A number of institutional investors have recently bought and sold shares of LBRX. Deep Track Capital LP acquired a new stake in shares of LB Pharmaceuticals in the third quarter valued at approximately $52,941,000. RA Capital Management L.P. bought a new stake in LB Pharmaceuticals in the 3rd quarter valued at $28,058,000. TCG Crossover Management LLC acquired a new stake in LB Pharmaceuticals during the 3rd quarter valued at $27,554,000. Commodore Capital LP bought a new position in LB Pharmaceuticals during the third quarter worth $23,685,000. Finally, JPMorgan Chase & Co. bought a new position in LB Pharmaceuticals during the third quarter worth $16,305,000.

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.