LB Pharmaceuticals (NASDAQ:LBRX) Price Target Raised to $54.00

LB Pharmaceuticals (NASDAQ:LBRX) had its price objective increased by BMO Capital Markets from $46.00 to $54.00 in a research note issued to investors on Wednesday morning, Marketbeat.com reports. The firm currently has an outperform rating on the stock.

Other analysts also recently issued research reports about the company. Roth Capital reaffirmed a “buy” rating and set a $37.00 target price on shares of LB Pharmaceuticals in a research note on Sunday, May 17th. HC Wainwright reissued a “buy” rating and issued a $45.00 price target on shares of LB Pharmaceuticals in a report on Monday, August 3rd. Weiss Ratings raised LB Pharmaceuticals from a “sell (d-)” rating to a “sell (d+)” rating in a report on Friday, July 24th. 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 target price on the stock. Finally, Piper Sandler reiterated an “overweight” rating and issued a $78.00 target price on shares of LB Pharmaceuticals in a report on Monday, August 3rd. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $47.75.

LB Pharmaceuticals Stock Up 7.9%

Shares of NASDAQ LBRX opened at $47.78 on Wednesday. The stock’s 50 day moving average price is $35.02 and its two-hundred day moving average price is $29.37. LB Pharmaceuticals has a 52-week low of $13.36 and a 52-week high of $49.14. The stock has a market capitalization of $1.54 billion and a P/E ratio of -13.89.

LB Pharmaceuticals (NASDAQ:LBRX) last posted its quarterly earnings results on Tuesday, August 11th. The company reported ($1.71) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.84) by ($0.87). On average, analysts anticipate that LB Pharmaceuticals will post -4.09 EPS for the current year.

Institutional Investors Weigh In On LB Pharmaceuticals

A number of large investors have recently bought and sold shares of the business. Deep Track Capital LP bought a new position in shares of LB Pharmaceuticals in the third quarter worth about $52,941,000. RA Capital Management L.P. raised its position 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 worth $49,164,000 after purchasing an additional 431,646 shares during the last quarter. TCG Crossover Management LLC bought a new stake in shares of LB Pharmaceuticals during the third quarter worth $27,554,000. JPMorgan Chase & Co. boosted its stake in shares of LB Pharmaceuticals by 56.1% in the 4th quarter. JPMorgan Chase & Co. now owns 1,611,482 shares of the company’s stock valued at $35,872,000 after purchasing an additional 578,879 shares during the last quarter. Finally, Spruce Street Capital LP lifted its stake in shares of LB Pharmaceuticals by 36.9% in the 1st quarter. Spruce Street Capital LP now owns 1,376,159 shares of the company’s stock valued at $33,645,000 after purchasing an additional 370,566 shares during the period.

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.