LB Pharmaceuticals Inc (NASDAQ:LBRX) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of LB Pharmaceuticals Inc (NASDAQ:LBRX) have earned a consensus recommendation of “Moderate Buy” from the six brokerages that are currently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell rating, one has given a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $35.00.

LBRX has been the topic of several recent research reports. Stifel Nicolaus lifted their price objective on shares of LB Pharmaceuticals from $35.00 to $40.00 and gave the company a “buy” rating in a research report on Friday, March 27th. Weiss Ratings reiterated a “sell (e)” rating on shares of LB Pharmaceuticals in a research report on Monday, December 29th. Finally, Roth Mkm initiated coverage on shares of LB Pharmaceuticals in a research report on Friday, January 9th. They issued a “buy” rating and a $31.00 price objective on the stock.

LB Pharmaceuticals Stock Performance

NASDAQ LBRX opened at $26.94 on Thursday. LB Pharmaceuticals has a one year low of $13.36 and a one year high of $27.55. The company has a 50-day simple moving average of $23.95 and a 200-day simple moving average of $20.14. The firm has a market capitalization of $772.37 million and a PE ratio of -25.42.

LB Pharmaceuticals (NASDAQ:LBRX) last posted its quarterly earnings results on Thursday, March 26th. The company reported ($0.45) EPS for the quarter, meeting the consensus estimate of ($0.45).

Institutional Trading of LB Pharmaceuticals

Hedge funds and other institutional investors have recently made changes to their positions in the stock. California State Teachers Retirement System bought a new stake in shares of LB Pharmaceuticals during the 4th quarter worth about $26,000. Bank of America Corp DE bought a new stake in shares of LB Pharmaceuticals during the 3rd quarter worth about $27,000. Russell Investments Group Ltd. bought a new stake in shares of LB Pharmaceuticals during the 4th quarter worth about $34,000. Strs Ohio bought a new stake in shares of LB Pharmaceuticals in the 4th quarter worth approximately $76,000. Finally, Persistent Asset Partners Ltd bought a new stake in shares of LB Pharmaceuticals in the 4th quarter worth approximately $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.