LB Pharmaceuticals (NASDAQ:LBRX) Trading 5.6% Higher – Time to Buy?

Shares of LB Pharmaceuticals Inc (NASDAQ:LBRX) were up 5.6% during trading on Monday . The stock traded as high as $32.51 and last traded at $32.46. Approximately 16,143 shares traded hands during trading, a decline of 94% from the average daily volume of 250,562 shares. The stock had previously closed at $30.73.

Analyst Upgrades and Downgrades

LBRX has been the topic of several research analyst reports. Craig Hallum initiated coverage on shares of LB Pharmaceuticals in a research note on Friday, April 10th. They issued a “buy” rating and a $36.00 price objective on the stock. Roth Mkm initiated 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 on the stock. HC Wainwright initiated coverage on shares of LB Pharmaceuticals in a research note on Monday. They issued a “buy” rating and a $45.00 price objective on the stock. Stifel Nicolaus raised their price objective on shares of LB Pharmaceuticals from $35.00 to $40.00 and gave the stock a “buy” rating in a research note on Friday, March 27th. Finally, Weiss Ratings restated a “sell (e)” rating on shares of LB Pharmaceuticals in a research note on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $37.20.

LB Pharmaceuticals Stock Up 0.8%

The stock has a market capitalization of $888.08 million and a P/E ratio of -29.20. The firm has a 50-day moving average of $25.52 and a 200 day moving average of $21.40.

LB Pharmaceuticals (NASDAQ:LBRX) last issued its earnings results on Thursday, March 26th. The company reported ($0.45) EPS for the quarter, hitting the consensus estimate of ($0.45). Analysts predict that LB Pharmaceuticals Inc will post -3.85 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of LBRX. Strs Ohio lifted its holdings in shares of LB Pharmaceuticals by 50.0% during the first quarter. Strs Ohio now owns 5,100 shares of the company’s stock valued at $126,000 after acquiring an additional 1,700 shares during the period. Meyer Handelman Co. bought a new position in shares of LB Pharmaceuticals during the first quarter valued at $372,000. Invesco Ltd. bought a new position in shares of LB Pharmaceuticals during the fourth quarter valued at $244,000. XTX Topco Ltd lifted its holdings in shares of LB Pharmaceuticals by 69.6% during the fourth quarter. XTX Topco Ltd now owns 19,121 shares of the company’s stock valued at $426,000 after acquiring an additional 7,845 shares during the period. Finally, Logos Global Management LP lifted its holdings in shares of LB Pharmaceuticals by 6.2% during the fourth quarter. Logos Global Management LP now owns 1,200,000 shares of the company’s stock valued at $26,712,000 after acquiring an additional 70,000 shares during the period.

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.