Great Lakes Advisors LLC Purchases Shares of 30,410 LB Pharmaceuticals Inc $LBRX

Great Lakes Advisors LLC acquired a new stake in LB Pharmaceuticals Inc (NASDAQ:LBRX) in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 30,410 shares of the company’s stock, valued at approximately $987,000. Great Lakes Advisors LLC owned approximately 0.11% of LB Pharmaceuticals as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in LBRX. Deep Track Capital LP bought a new stake in LB Pharmaceuticals in the third quarter valued at about $52,941,000. RA Capital Management L.P. bought a new position in LB Pharmaceuticals during the third quarter worth about $28,058,000. TCG Crossover Management LLC bought a new position in LB Pharmaceuticals during the third quarter worth about $27,554,000. Spruce Street Capital LP acquired a new stake in LB Pharmaceuticals during the fourth quarter valued at approximately $22,384,000. Finally, Balyasny Asset Management L.P. bought a new stake in shares of LB Pharmaceuticals in the 3rd quarter valued at approximately $15,289,000.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. Weiss Ratings downgraded LB Pharmaceuticals from a “sell (d+)” rating to a “sell (d)” rating in a research report on Tuesday, August 11th. Wolfe Research initiated coverage on LB Pharmaceuticals in a report on Tuesday, July 7th. They set an “outperform” rating and a $45.00 price objective for the company. Stifel Nicolaus set a $53.00 target price on shares of LB Pharmaceuticals in a report on Thursday, August 13th. Piper Sandler reissued an “overweight” rating and set a $78.00 price target on shares of LB Pharmaceuticals in a report on Monday, August 3rd. Finally, HC Wainwright restated a “buy” rating and issued a $45.00 price target on shares of LB Pharmaceuticals in a research report on Monday, August 3rd. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, LB Pharmaceuticals currently has an average rating of “Moderate Buy” and an average target price of $47.75.

LB Pharmaceuticals Stock Up 0.8%

Shares of LBRX stock opened at $47.62 on Friday. The firm has a market cap of $1.54 billion and a price-to-earnings ratio of -13.84. LB Pharmaceuticals Inc has a 12 month low of $13.36 and a 12 month high of $49.97. The stock has a 50-day moving average price of $36.92 and a 200 day moving average price of $30.28.

LB Pharmaceuticals (NASDAQ:LBRX) last released its earnings results on Tuesday, August 11th. The company reported ($1.71) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.84) by ($0.87). Sell-side analysts predict that LB Pharmaceuticals Inc will post -4.67 earnings per share for the current fiscal year.

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.