LB Pharmaceuticals (NASDAQ:LBRX) Hits New 52-Week High – What’s Next?

Shares of LB Pharmaceuticals Inc (NASDAQ:LBRX) reached a new 52-week high during trading on Wednesday . The stock traded as high as $49.77 and last traded at $49.4160, with a volume of 221 shares changing hands. The stock had previously closed at $48.77.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Wall Street Zen downgraded shares of LB Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Saturday. Roth Capital reissued a “buy” rating and set a $37.00 target price on shares of LB Pharmaceuticals in a research report on Sunday, May 17th. Weiss Ratings downgraded shares of LB Pharmaceuticals from a “sell (d+)” rating to a “sell (d)” rating in a research note on Tuesday, August 11th. Stifel Nicolaus set a $53.00 price target on shares of LB Pharmaceuticals in a report on Thursday, August 13th. Finally, Wolfe Research began coverage on LB Pharmaceuticals in a research report on Tuesday, July 7th. They set an “outperform” rating and a $45.00 price target on the stock. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $47.75.

LB Pharmaceuticals Price Performance

The firm has a market cap of $1.57 billion and a price-to-earnings ratio of -14.16. The firm has a fifty day simple moving average of $35.75 and a two-hundred day simple moving average of $29.78.

LB Pharmaceuticals (NASDAQ:LBRX) last posted its quarterly earnings data on Tuesday, August 11th. The company reported ($1.71) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.84) by ($0.87). Equities analysts anticipate that LB Pharmaceuticals Inc will post -4.67 earnings per share for the current fiscal year.

Institutional Investors Weigh In On LB Pharmaceuticals

Several institutional investors and hedge funds have recently made changes to their positions in LBRX. California State Teachers Retirement System acquired a new position in shares of LB Pharmaceuticals in the 4th quarter valued at $26,000. Russell Investments Group Ltd. acquired a new stake in LB Pharmaceuticals during the 4th quarter worth about $34,000. Bank of America Corp DE purchased a new stake in LB Pharmaceuticals during the 3rd quarter valued at about $27,000. Strs Ohio acquired a new position in shares of LB Pharmaceuticals in the fourth quarter valued at about $76,000. Finally, Persistent Asset Partners Ltd acquired a new position in shares of LB Pharmaceuticals in the fourth quarter valued at about $91,000.

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.