LB Pharmaceuticals (NASDAQ:LBRX) Lowered to “Sell” Rating by Wall Street Zen

Wall Street Zen lowered shares of LB Pharmaceuticals (NASDAQ:LBRX) from a hold rating to a sell rating in a report released on Saturday morning.

Other equities research analysts have also issued research reports about the company. Roth Capital reaffirmed a “buy” rating and issued a $37.00 target price on shares of LB Pharmaceuticals in a research note on Sunday, May 17th. Wolfe Research assumed coverage on LB Pharmaceuticals in a research report on Tuesday, July 7th. They set an “outperform” rating and a $45.00 price target for the company. Piper Sandler reissued an “overweight” rating and issued a $78.00 price target on shares of LB Pharmaceuticals in a report on Monday, August 3rd. Weiss Ratings lowered LB Pharmaceuticals from a “sell (d+)” rating to a “sell (d)” rating in a research note on Tuesday. Finally, BMO Capital Markets lifted their price objective on LB Pharmaceuticals from $46.00 to $54.00 and gave the stock an “outperform” rating in a research report on Wednesday. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $47.75.

LB Pharmaceuticals Trading Up 7.9%

NASDAQ:LBRX opened at $47.78 on Friday. The company has a market capitalization of $1.54 billion and a P/E ratio of -13.89. The firm has a 50-day moving average price of $35.02 and a two-hundred day moving average price of $29.37. LB Pharmaceuticals has a twelve month low of $13.36 and a twelve month high of $49.14.

LB Pharmaceuticals (NASDAQ:LBRX) last announced 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, equities research analysts predict that LB Pharmaceuticals will post -4.67 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Deep Track Capital LP purchased a new position in shares of LB Pharmaceuticals during the 3rd quarter worth $52,941,000. RA Capital Management L.P. acquired a new position in LB Pharmaceuticals in the third quarter valued at $28,058,000. TCG Crossover Management LLC acquired a new position in LB Pharmaceuticals in the third quarter valued at $27,554,000. Spruce Street Capital LP purchased a new position in LB Pharmaceuticals during the fourth quarter worth about $22,384,000. Finally, Balyasny Asset Management L.P. acquired a new stake in LB Pharmaceuticals in the 3rd quarter worth about $15,289,000.

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.