Stempoint Capital LP Takes Position in LB Pharmaceuticals Inc $LBRX

Stempoint Capital LP bought a new stake in shares of LB Pharmaceuticals Inc (NASDAQ:LBRX) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 50,000 shares of the company’s stock, valued at approximately $1,233,000.

Other large investors also recently added to or reduced their stakes in the company. Deep Track Capital LP purchased a new position in LB Pharmaceuticals during the third quarter valued at $52,941,000. RA Capital Management L.P. lifted its stake in LB Pharmaceuticals by 24.3% in the 4th quarter. RA Capital Management L.P. now owns 2,208,604 shares of the company’s stock valued at $49,164,000 after buying an additional 431,646 shares in the last quarter. TCG Crossover Management LLC acquired a new stake in LB Pharmaceuticals in the 3rd quarter worth about $27,554,000. JPMorgan Chase & Co. raised its holdings in shares of LB Pharmaceuticals by 56.1% during the fourth quarter. JPMorgan Chase & Co. now owns 1,611,482 shares of the company’s stock valued at $35,872,000 after acquiring an additional 578,879 shares during the last quarter. Finally, Spruce Street Capital LP lifted its position in shares of LB Pharmaceuticals by 36.9% in the first quarter. Spruce Street Capital LP now owns 1,376,159 shares of the company’s stock valued at $33,645,000 after acquiring an additional 370,566 shares in the last quarter.

LB Pharmaceuticals Trading Up 11.6%

LB Pharmaceuticals stock opened at $39.00 on Thursday. The company has a 50-day moving average price of $30.97 and a 200 day moving average price of $27.41. LB Pharmaceuticals Inc has a 12-month low of $13.36 and a 12-month high of $39.26. The stock has a market cap of $1.12 billion and a P/E ratio of -22.54.

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

Analysts Set New Price Targets

LBRX has been the subject of several recent research reports. HC Wainwright reissued a “buy” rating on shares of LB Pharmaceuticals in a research note on Friday, July 24th. Roth Capital reiterated a “buy” rating and issued a $37.00 target price on shares of LB Pharmaceuticals in a research report on Sunday, May 17th. Craig Hallum initiated coverage on shares of LB Pharmaceuticals in a research report on Friday, April 10th. They set a “buy” rating and a $36.00 price target on the stock. Wall Street Zen upgraded shares of LB Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Sunday, June 21st. Finally, Weiss Ratings raised shares of LB Pharmaceuticals from a “sell (d-)” rating to a “sell (d+)” rating in a research note on Friday, July 24th. Two analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $40.43.

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.