Integral Health Asset Management LLC Makes New $1.58 Million Investment in LB Pharmaceuticals Inc $LBRX

Integral Health Asset Management LLC acquired a new stake in shares of LB Pharmaceuticals Inc (NASDAQ:LBRX) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 100,000 shares of the company’s stock, valued at approximately $1,579,000.

Other large investors also recently bought and sold shares of the company. JPMorgan Chase & Co. purchased a new position in shares of LB Pharmaceuticals in the third quarter worth $16,305,000. TD Asset Management Inc purchased a new position in LB Pharmaceuticals in the 3rd quarter worth $581,000. Monashee Investment Management LLC purchased a new stake in LB Pharmaceuticals during the 3rd quarter valued at about $632,000. Jefferies Financial Group Inc. acquired a new position in shares of LB Pharmaceuticals in the third quarter valued at about $207,000. Finally, Landscape Capital Management L.L.C. acquired a new position in LB Pharmaceuticals in the 3rd quarter worth approximately $168,000.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on LBRX shares. Weiss Ratings reiterated a “sell (e)” rating on shares of LB Pharmaceuticals in a research note on Monday, December 29th. Roth Mkm began coverage on shares of LB Pharmaceuticals in a research note on Friday, January 9th. They set a “buy” rating and a $31.00 target price for the company. Finally, Stifel Nicolaus lifted their price objective on LB Pharmaceuticals from $27.00 to $35.00 and gave the stock a “buy” rating in a report on Thursday, December 11th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, LB Pharmaceuticals currently has a consensus rating of “Moderate Buy” and a consensus target price of $33.33.

LB Pharmaceuticals Price Performance

LB Pharmaceuticals stock opened at $25.67 on Friday. The business’s fifty day simple moving average is $22.80. The stock has a market capitalization of $649.45 million and a price-to-earnings ratio of -42.08. LB Pharmaceuticals Inc has a 52-week low of $13.36 and a 52-week high of $26.65.

LB Pharmaceuticals Profile

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.