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

Shares of LB Pharmaceuticals Inc (NASDAQ:LBRX) have earned an average rating of “Moderate Buy” from the ten ratings firms that are covering the company, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, seven have given a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $49.6250.

A number of analysts recently commented on the stock. Wolfe Research initiated coverage on shares of LB Pharmaceuticals in a research report on Tuesday, July 7th. They issued an “outperform” rating and a $45.00 price objective for the company. Weiss Ratings cut shares of LB Pharmaceuticals from a “sell (d+)” rating to a “sell (d)” rating in a report on Tuesday, August 11th. Stifel Nicolaus set a $53.00 price objective on shares of LB Pharmaceuticals in a research report on Thursday, August 13th. Piper Sandler reaffirmed an “overweight” rating and issued a $78.00 price objective on shares of LB Pharmaceuticals in a research report on Monday, August 3rd. Finally, Wall Street Zen lowered shares of LB Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Saturday, August 15th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of LBRX. California State Teachers Retirement System grew its holdings in shares of LB Pharmaceuticals by 50,961.3% during the second quarter. California State Teachers Retirement System now owns 531,548 shares of the company’s stock worth $16,378,000 after buying an additional 530,507 shares in the last quarter. Wellington Management Group LLP grew its stake in shares of LB Pharmaceuticals by 11.9% during the 2nd quarter. Wellington Management Group LLP now owns 58,891 shares of the company’s stock worth $1,911,000 after acquiring an additional 6,251 shares in the last quarter. Great Lakes Advisors LLC bought a new stake in shares of LB Pharmaceuticals in the second quarter worth $987,000. Bank of New York Mellon Corp bought a new position in LB Pharmaceuticals in the second quarter valued at $1,784,000. Finally, Stempoint Capital LP bought a new position in LB Pharmaceuticals in the first quarter valued at $1,233,000.

LB Pharmaceuticals Price Performance

Shares of LBRX stock opened at $47.73 on Monday. The stock has a market cap of $1.54 billion and a PE ratio of -13.87. The stock has a 50-day moving average of $38.81 and a 200-day moving average of $31.22. LB Pharmaceuticals has a one year low of $13.36 and a one year high of $50.16.

LB Pharmaceuticals (NASDAQ:LBRX) last issued its quarterly earnings data 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). As a group, research analysts anticipate that LB Pharmaceuticals will post -5.16 earnings per share for the current 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.