TD Asset Management Inc Buys Shares of 36,780 LB Pharmaceuticals Inc $LBRX

TD Asset Management Inc acquired a new stake in shares of LB Pharmaceuticals Inc (NASDAQ:LBRX) in the third quarter, HoldingsChannel reports. The fund acquired 36,780 shares of the company’s stock, valued at approximately $581,000.

Separately, Federated Hermes Inc. bought a new position in LB Pharmaceuticals in the third quarter worth about $142,000.

Analyst Ratings Changes

Several research firms have recently commented on LBRX. Weiss Ratings reaffirmed a “sell (e)” rating on shares of LB Pharmaceuticals in a 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 report on Thursday, December 11th. Finally, Roth Mkm started coverage on LB Pharmaceuticals in a research report on Friday, January 9th. They set a “buy” rating and a $31.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $33.33.

LB Pharmaceuticals Stock Performance

LBRX stock opened at $23.78 on Friday. The firm has a market cap of $601.63 million and a PE ratio of -38.98. The business has a 50-day moving average price of $22.49. LB Pharmaceuticals Inc has a fifty-two week low of $13.36 and a fifty-two week high of $25.60.

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.