LB Pharmaceuticals Inc (NASDAQ:LBRX) Stock Now Rated “Moderate Buy” by Wall Street Analysts

Shares of LB Pharmaceuticals Inc (NASDAQ:LBRX) have been given a consensus recommendation of “Moderate Buy” by the thirteen brokerages that are covering the company, MarketBeat.com reports. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and ten have issued a buy rating on the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $57.40.

A number of research firms have weighed in on LBRX. Needham & Company LLC started coverage on LB Pharmaceuticals in a research note on Friday, October 2nd. They set a “buy” rating and a $68.00 price objective on the stock. Wolfe Research assumed coverage on LB Pharmaceuticals in a research note on Tuesday, July 7th. They issued an “outperform” rating and a $45.00 price target on the stock. Guggenheim reiterated a “buy” rating on shares of LB Pharmaceuticals in a report on Monday, October 12th. Raymond James Financial raised shares of LB Pharmaceuticals to a “buy” rating in a research report on Monday, October 12th. Finally, Canaccord Genuity Group began coverage on shares of LB Pharmaceuticals in a research report on Friday, October 9th. They set a “buy” rating and a $65.00 price target for the company.

Institutional Trading of LB Pharmaceuticals

A number of large investors have recently modified their holdings of the stock. Spruce Street Capital LP grew its stake in LB Pharmaceuticals by 36.9% during the 1st quarter. Spruce Street Capital LP now owns 1,376,159 shares of the company’s stock worth $33,645,000 after purchasing an additional 370,566 shares in the last quarter. Eversept Partners LP acquired a new stake in LB Pharmaceuticals in the 1st quarter valued at about $2,471,000. Wellington Management Group LLP raised its position in LB Pharmaceuticals by 11.9% in the 2nd quarter. Wellington Management Group LLP now owns 58,891 shares of the company’s stock valued at $1,911,000 after purchasing an additional 6,251 shares in the last quarter. Bank of New York Mellon Corp purchased a new position in shares of LB Pharmaceuticals in the 2nd quarter valued at about $1,784,000. Finally, Janus Henderson Group PLC acquired a new position in shares of LB Pharmaceuticals during the first quarter worth about $1,613,000.

LB Pharmaceuticals Trading Down 1.8%

Shares of NASDAQ LBRX opened at $38.73 on Tuesday. The company has a 50 day simple moving average of $42.21 and a two-hundred day simple moving average of $35.79. The stock has a market cap of $1.25 billion and a price-to-earnings ratio of -11.26. LB Pharmaceuticals has a 12 month low of $14.32 and a 12 month high of $50.16.

LB Pharmaceuticals (NASDAQ:LBRX) last posted its earnings results on Tuesday, August 11th. The company reported ($1.71) EPS for the quarter, missing analysts’ consensus estimates of ($0.84) by ($0.87). Analysts forecast that LB Pharmaceuticals will post -5.70 EPS for the current year.

LB Pharmaceuticals Company Profile

LB Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company focused on developing treatments for neuropsychiatric disorders. The company’s lead product candidate, LB-102, is an investigational oral therapy being developed for schizophrenia and potentially other conditions involving serious disturbances in mood, thought and behavior.

LB-102 is designed as a prodrug of amisulpride, an antipsychotic compound that has been approved in certain markets outside the United States but is not approved by the U.S.