LB Pharmaceuticals (NASDAQ:LBRX) Sets New 52-Week High – Time to Buy?

LB Pharmaceuticals Inc (NASDAQ:LBRX)’s stock price reached a new 52-week high on Thursday . The company traded as high as $24.55 and last traded at $23.94, with a volume of 69929 shares changing hands. The stock had previously closed at $21.17.

Analyst Ratings Changes

A number of analysts have commented on the company. Weiss Ratings reiterated a “sell (e)” rating on shares of LB Pharmaceuticals in a research report on Monday, December 29th. Stifel Nicolaus raised their price target on LB Pharmaceuticals from $27.00 to $35.00 and gave the stock a “buy” rating in a research note on Thursday, December 11th. Finally, Roth Mkm began coverage on LB Pharmaceuticals in a research report on Friday, January 9th. They issued a “buy” rating and a $31.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, LB Pharmaceuticals has an average rating of “Moderate Buy” and an average price target of $33.33.

LB Pharmaceuticals Stock Performance

The firm’s fifty day simple moving average is $20.77. The stock has a market cap of $611.25 million and a price-to-earnings ratio of -39.61.

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

Institutional Trading of LB Pharmaceuticals

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