LB Pharmaceuticals (NASDAQ:LBRX) Stock Price Up 5.6% – What’s Next?

LB Pharmaceuticals Inc (NASDAQ:LBRX)’s stock price was up 5.6% on Monday . The company traded as high as $20.66 and last traded at $20.21. Approximately 54,502 shares were traded during mid-day trading, a decline of 67% from the average daily volume of 165,860 shares. The stock had previously closed at $19.13.

Analyst Upgrades and Downgrades

LBRX has been the subject of a number of research analyst reports. Piper Sandler assumed coverage on LB Pharmaceuticals in a report on Monday, October 6th. They issued an “overweight” rating for the company. Stifel Nicolaus boosted their target price on shares of LB Pharmaceuticals from $27.00 to $35.00 and gave the stock a “buy” rating in a research note on Thursday. Leerink Partners assumed coverage on shares of LB Pharmaceuticals in a research note on Monday, October 6th. They set an “outperform” rating and a $34.00 price target on the stock. Leerink Partnrs upgraded LB Pharmaceuticals to a “strong-buy” rating in a research report on Monday, October 6th. Finally, Zacks Research raised shares of LB Pharmaceuticals to a “hold” rating in a research note on Tuesday, October 7th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, LB Pharmaceuticals currently has an average rating of “Moderate Buy” and an average target price of $34.50.

LB Pharmaceuticals Stock Up 4.9%

The business’s fifty day moving average price is $16.71.

LB Pharmaceuticals (NASDAQ:LBRX) last posted its earnings results on Thursday, November 6th. The company reported ($0.61) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.57) by ($0.04).

Hedge Funds Weigh In On LB Pharmaceuticals

A number of hedge funds and other institutional investors have recently made changes to their positions in LBRX. Baker BROS. Advisors LP bought a new position in LB Pharmaceuticals during the third quarter worth about $3,158,000. Bank of America Corp DE acquired a new stake in shares of LB Pharmaceuticals in the third quarter valued at approximately $27,000. Acuta Capital Partners LLC bought a new stake in LB Pharmaceuticals during the 3rd quarter worth about $474,000. Two Sigma Investments LP acquired a new position in LB Pharmaceuticals during the third quarter valued at approximately $213,000. Finally, Squarepoint Ops LLC bought a new position in shares of LB Pharmaceuticals in the third quarter valued at $329,000.

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.