LB Pharmaceuticals Inc (NASDAQ:LBRX) Given Average Recommendation of “Moderate Buy” by Brokerages

LB Pharmaceuticals Inc (NASDAQ:LBRX) has received a consensus rating of “Moderate Buy” from the six research firms that are presently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $33.3333.

Several research firms have commented on LBRX. Piper Sandler initiated coverage on shares of LB Pharmaceuticals in a research report on Monday, October 6th. They set an “overweight” rating on the stock. Stifel Nicolaus increased their price objective on LB Pharmaceuticals from $27.00 to $35.00 and gave the company a “buy” rating in a report on Thursday, December 11th. Weiss Ratings restated a “sell (e)” rating on shares of LB Pharmaceuticals in a report on Monday, December 29th. Zacks Research raised LB Pharmaceuticals to a “hold” rating in a research report on Tuesday, October 7th. Finally, Roth Mkm began coverage on shares of LB Pharmaceuticals in a research note on Friday, January 9th. They issued a “buy” rating and a $31.00 price objective for the company.

Hedge Funds Weigh In On LB Pharmaceuticals

Institutional investors have recently made changes to their positions in the business. Deep Track Capital LP bought a new stake in LB Pharmaceuticals during the 3rd quarter valued at approximately $52,941,000. RA Capital Management L.P. bought a new stake in shares of LB Pharmaceuticals in the third quarter valued at approximately $28,058,000. TCG Crossover Management LLC acquired a new stake in shares of LB Pharmaceuticals in the third quarter worth $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. acquired a new position in LB Pharmaceuticals during the 3rd quarter valued at $16,305,000.

LB Pharmaceuticals Stock Up 0.7%

NASDAQ:LBRX opened at $21.72 on Friday. The firm has a market capitalization of $549.52 million and a P/E ratio of -35.61. The stock has a 50 day moving average price of $19.50. LB Pharmaceuticals has a 52 week low of $13.36 and a 52 week high of $23.15.

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

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.