LB Pharmaceuticals (NASDAQ:LBRX) Shares Down 4.5% – What’s Next?

Shares of LB Pharmaceuticals Inc (NASDAQ:LBRX) traded down 4.5% during trading on Thursday . The stock traded as low as $27.40 and last traded at $27.8120. 196,426 shares traded hands during mid-day trading, a decline of 20% from the average session volume of 246,103 shares. The stock had previously closed at $29.12.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Weiss Ratings reaffirmed a “sell (e)” rating on shares of LB Pharmaceuticals in a report on Monday, December 29th. Roth Mkm assumed coverage on shares of LB Pharmaceuticals in a report on Friday, January 9th. They issued a “buy” rating and a $31.00 price objective on the stock. Craig Hallum began coverage on shares of LB Pharmaceuticals in a report on Friday, April 10th. They issued a “buy” rating and a $36.00 price objective on the stock. Finally, Stifel Nicolaus increased their price target on shares of LB Pharmaceuticals from $35.00 to $40.00 and gave the stock a “buy” rating in a report on Friday, March 27th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $35.25.

LB Pharmaceuticals Price Performance

The stock’s fifty day moving average is $24.78 and its 200-day moving average is $20.76. The stock has a market capitalization of $875.01 million and a PE ratio of -28.79.

LB Pharmaceuticals (NASDAQ:LBRX) last announced its quarterly earnings results on Thursday, March 26th. The company reported ($0.45) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.45).

Institutional Trading of LB Pharmaceuticals

A number of hedge funds have recently added to or reduced their stakes in the company. Federated Hermes Inc. acquired a new position in LB Pharmaceuticals during the third quarter worth $142,000. JPMorgan Chase & Co. acquired a new position in LB Pharmaceuticals during the third quarter worth $16,305,000. TD Asset Management Inc acquired a new position in LB Pharmaceuticals during the third quarter worth $581,000. Monashee Investment Management LLC acquired a new position in LB Pharmaceuticals during the third quarter worth $632,000. Finally, Jefferies Financial Group Inc. acquired a new position in LB Pharmaceuticals during the third quarter worth $207,000.

LB Pharmaceuticals Company 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.