LB Pharmaceuticals (NASDAQ:LBRX) Releases Earnings Results

LB Pharmaceuticals (NASDAQ:LBRX) issued its quarterly earnings data on Tuesday. The company reported ($0.67) EPS for the quarter, topping analysts’ consensus estimates of ($0.75) by $0.08, FiscalAI reports.

LB Pharmaceuticals Price Performance

NASDAQ:LBRX opened at $31.13 on Wednesday. LB Pharmaceuticals has a 1-year low of $13.36 and a 1-year high of $33.47. The firm has a 50-day moving average of $27.05 and a two-hundred day moving average of $22.52. The stock has a market cap of $892.81 million and a P/E ratio of -29.37.

Hedge Funds Weigh In On LB Pharmaceuticals

Large investors have recently modified their holdings of the stock. California State Teachers Retirement System bought a new position in shares of LB Pharmaceuticals during the fourth quarter worth about $26,000. Bank of America Corp DE bought a new position in shares of LB Pharmaceuticals during the third quarter worth about $27,000. Russell Investments Group Ltd. bought a new position in shares of LB Pharmaceuticals during the fourth quarter worth about $34,000. Strs Ohio bought a new position in shares of LB Pharmaceuticals during the fourth quarter worth about $76,000. Finally, Persistent Asset Partners Ltd bought a new position in shares of LB Pharmaceuticals during the fourth quarter worth about $91,000.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Stifel Nicolaus upped their price objective 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. HC Wainwright assumed coverage on shares of LB Pharmaceuticals in a research report on Monday, April 27th. They issued a “buy” rating and a $45.00 price objective for the company. Finally, Craig Hallum assumed coverage on shares of LB Pharmaceuticals in a research report on Friday, April 10th. They issued a “buy” rating and a $36.00 price objective for the company. Two research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $37.20.

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.