100,198 Shares in LB Pharmaceuticals Inc $LBRX Purchased by Eversept Partners LP

Eversept Partners LP bought a new stake in shares of LB Pharmaceuticals Inc (NASDAQ:LBRX) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 100,198 shares of the company’s stock, valued at approximately $2,471,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in LBRX. California State Teachers Retirement System purchased a new stake in LB Pharmaceuticals during the 4th quarter valued at approximately $26,000. Jane Street Group LLC lifted its holdings in shares of LB Pharmaceuticals by 4.6% in the fourth quarter. Jane Street Group LLC now owns 31,733 shares of the company’s stock worth $706,000 after buying an additional 1,388 shares in the last quarter. Russell Investments Group Ltd. bought a new position in shares of LB Pharmaceuticals during the fourth quarter worth $34,000. Bank of America Corp DE purchased a new position in LB Pharmaceuticals during the third quarter valued at $27,000. Finally, Strs Ohio grew its stake in LB Pharmaceuticals by 50.0% during the first quarter. Strs Ohio now owns 5,100 shares of the company’s stock valued at $126,000 after acquiring an additional 1,700 shares in the last quarter.

LB Pharmaceuticals Stock Down 0.7%

LBRX stock opened at $34.78 on Tuesday. LB Pharmaceuticals Inc has a 52 week low of $13.36 and a 52 week high of $36.60. The firm has a market capitalization of $997.39 million and a P/E ratio of -20.10. The company has a fifty day simple moving average of $30.60 and a two-hundred day simple moving average of $27.19.

LB Pharmaceuticals (NASDAQ:LBRX) last posted its earnings results on Tuesday, May 12th. The company reported ($0.67) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.75) by $0.08. As a group, analysts anticipate that LB Pharmaceuticals Inc will post -3.58 EPS for the current year.

Wall Street Analysts Forecast Growth

LBRX has been the topic of several research analyst reports. Roth Capital reiterated a “buy” rating and issued a $37.00 price target on shares of LB Pharmaceuticals in a research note on Sunday, May 17th. Wolfe Research initiated coverage on LB Pharmaceuticals in a research report on Tuesday, July 7th. They set an “outperform” rating and a $45.00 price objective for the company. Wall Street Zen upgraded LB Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Sunday, June 21st. Craig Hallum initiated coverage on LB Pharmaceuticals in a research note on Friday, April 10th. They set a “buy” rating and a $36.00 price target for the company. Finally, HC Wainwright restated a “buy” rating on shares of LB Pharmaceuticals in a report on Friday. Two research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $40.43.

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.