LB Pharmaceuticals Inc (NASDAQ:LBRX) Receives $39.50 Consensus Target Price from Analysts

Shares of LB Pharmaceuticals Inc (NASDAQ:LBRX) have received an average recommendation of “Moderate Buy” from the nine research firms that are currently covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating on the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $39.50.

A number of equities research analysts recently issued reports on LBRX shares. Weiss Ratings raised shares of LB Pharmaceuticals from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday, June 11th. HC Wainwright reiterated a “buy” rating on shares of LB Pharmaceuticals in a report on Monday, June 22nd. Craig Hallum started coverage on shares of LB Pharmaceuticals in a report on Friday, April 10th. They set a “buy” rating and a $36.00 price target for the company. Stifel Nicolaus lifted their price target on shares of LB Pharmaceuticals from $35.00 to $40.00 and gave the company a “buy” rating in a research report on Friday, March 27th. Finally, Wolfe Research began coverage on LB Pharmaceuticals in a report on Tuesday, July 7th. They issued an “outperform” rating and a $45.00 price objective on the stock.

Hedge Funds Weigh In On LB Pharmaceuticals

Large investors have recently modified their holdings of the business. Deep Track Capital LP acquired a new stake in shares of LB Pharmaceuticals during the 3rd quarter worth about $52,941,000. RA Capital Management L.P. lifted its position in LB Pharmaceuticals by 24.3% in the fourth quarter. RA Capital Management L.P. now owns 2,208,604 shares of the company’s stock valued at $49,164,000 after buying an additional 431,646 shares during the last quarter. TCG Crossover Management LLC purchased a new position in LB Pharmaceuticals during the third quarter worth about $27,554,000. JPMorgan Chase & Co. increased its position in shares of LB Pharmaceuticals by 56.1% during the fourth quarter. JPMorgan Chase & Co. now owns 1,611,482 shares of the company’s stock valued at $35,872,000 after acquiring an additional 578,879 shares during the last quarter. Finally, Commodore Capital LP purchased a new stake in shares of LB Pharmaceuticals in the 3rd quarter valued at approximately $23,685,000.

LB Pharmaceuticals Stock Performance

NASDAQ LBRX opened at $30.59 on Friday. The stock’s fifty day moving average is $30.24 and its two-hundred day moving average is $26.58. The firm has a market capitalization of $877.32 million and a P/E ratio of -17.68. LB Pharmaceuticals has a fifty-two week low of $13.36 and a fifty-two week high of $35.35.

LB Pharmaceuticals (NASDAQ:LBRX) last issued its earnings results on Tuesday, May 12th. The company reported ($0.67) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.75) by $0.08. As a group, sell-side analysts forecast that LB Pharmaceuticals will post -3.58 EPS for the current year.

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.