LB Pharmaceuticals (NASDAQ:LBRX) Sets New 1-Year High – What’s Next?

LB Pharmaceuticals Inc (NASDAQ:LBRX)’s stock price reached a new 52-week high on Monday . The company traded as high as $49.14 and last traded at $47.23, with a volume of 269158 shares traded. The stock had previously closed at $48.00.

Wall Street Analyst Weigh In

Several brokerages recently commented on LBRX. HC Wainwright reiterated a “buy” rating and issued a $45.00 price objective on shares of LB Pharmaceuticals in a research note on Monday, August 3rd. Piper Sandler restated an “overweight” rating and set a $78.00 target price on shares of LB Pharmaceuticals in a research report on Monday, August 3rd. Roth Capital reaffirmed a “buy” rating and issued a $37.00 target price on shares of LB Pharmaceuticals in a report on Sunday, May 17th. Weiss Ratings raised LB Pharmaceuticals from a “sell (d-)” rating to a “sell (d+)” rating in a report on Friday, July 24th. Finally, Wolfe Research initiated coverage on LB Pharmaceuticals in a research note on Tuesday, July 7th. They set an “outperform” rating and a $45.00 price target for the company. Two analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $45.12.

LB Pharmaceuticals Stock Down 0.6%

The company has a market cap of $1.37 billion and a PE ratio of -27.71. The firm’s fifty day simple moving average is $33.26 and its 200-day simple moving average is $28.61.

LB Pharmaceuticals (NASDAQ:LBRX) last issued its quarterly earnings data on Tuesday, May 12th. The company reported ($0.67) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.75) by $0.08. On average, analysts predict that LB Pharmaceuticals Inc will post -3.55 earnings per share for the current year.

Hedge Funds Weigh In On LB Pharmaceuticals

Several hedge funds have recently bought and sold shares of the stock. Jefferies Financial Group Inc. purchased a new stake in shares of LB Pharmaceuticals in the third quarter valued at $207,000. Landscape Capital Management L.L.C. purchased a new stake in LB Pharmaceuticals during the 3rd quarter worth about $168,000. Squarepoint Ops LLC purchased a new stake in LB Pharmaceuticals during the 3rd quarter worth about $329,000. Two Sigma Investments LP acquired a new position in LB Pharmaceuticals in the 3rd quarter valued at about $213,000. Finally, Balyasny Asset Management L.P. purchased a new position in LB Pharmaceuticals in the 3rd quarter valued at about $15,289,000.

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.