LB Pharmaceuticals (NASDAQ:LBRX) Rating Lowered to "Neutral" at Roth Capital

Key Points

• Roth Capital downgraded LB Pharmaceuticals from “Buy” to “Neutral” and set a $35 price target, implying approximately 5.38% downside from the stock’s reported $36.99 price.
• Analyst sentiment remains mixed but generally positive: MarketBeat reports a consensus “Moderate Buy” rating and an average price target of $51.44, despite recent bearish revisions from some firms.
• LB Pharmaceuticals reported a quarterly loss of $1.71 per share, missing the $0.84 loss estimate, while developing LB-102, an oral schizophrenia treatment candidate.

LB Pharmaceuticals (NASDAQ:LBRX - Get Free Report) was downgraded by analysts at Roth Capital from a "buy" rating to a "neutral" rating in a report issued on Monday, Marketbeat reports. They currently have a $35.00 target price on the stock. Roth Capital's price target suggests a potential downside of 5.38% from the stock's current price.

LBRX has been the topic of a number of other research reports. Wall Street Zen lowered LB Pharmaceuticals from a "sell" rating to a "strong sell" rating in a research note on Saturday. Weiss Ratings cut shares of LB Pharmaceuticals from a "sell (d+)" rating to a "sell (d)" rating in a research note on Tuesday, August 11th. BMO Capital Markets increased their target price on shares of LB Pharmaceuticals from $46.00 to $54.00 and gave the stock an "outperform" rating in a research report on Wednesday, August 12th. Wolfe Research began coverage on shares of LB Pharmaceuticals in a research note on Tuesday, July 7th. They set an "outperform" rating and a $45.00 price objective for the company. Finally, Stifel Nicolaus set a $53.00 target price on shares of LB Pharmaceuticals in a research note on Thursday, August 13th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, LB Pharmaceuticals has an average rating of "Moderate Buy" and a consensus price target of $51.44.

LB Pharmaceuticals Price Performance

NASDAQ LBRX opened at $36.99 on Monday. LB Pharmaceuticals has a 1-year low of $14.32 and a 1-year high of $50.16. The company has a market capitalization of $1.19 billion and a P/E ratio of -10.75. The business has a 50 day moving average price of $44.16 and a 200 day moving average price of $34.56.

LB Pharmaceuticals (NASDAQ:LBRX - Get Free Report) last issued its quarterly earnings data on Tuesday, August 11th. The company reported ($1.71) EPS for the quarter, missing analysts' consensus estimates of ($0.84) by ($0.87). On average, research analysts expect that LB Pharmaceuticals will post -5.78 earnings per share for the current fiscal year.

Hedge Funds Weigh In On LB Pharmaceuticals

A number of hedge funds have recently added to or reduced their stakes in the business. Spruce Street Capital LP bought a new position in shares of LB Pharmaceuticals in the 4th quarter worth about $22,384,000. Janus Henderson Group PLC acquired a new position in LB Pharmaceuticals in the first quarter valued at approximately $1,613,000. Stempoint Capital LP bought a new position in shares of LB Pharmaceuticals during the first quarter valued at approximately $1,233,000. Eversept Partners LP bought a new position in shares of LB Pharmaceuticals during the first quarter valued at approximately $2,471,000. Finally, Bank of New York Mellon Corp acquired a new stake in shares of LB Pharmaceuticals during the 2nd quarter worth approximately $1,784,000.

About LB Pharmaceuticals

LB Pharmaceuticals is a clinical-stage biopharmaceutical company focused on developing treatments for central nervous system and neuropsychiatric disorders. The company's lead product candidate is LB-102, an oral prodrug of amisulpride, an established antipsychotic medicine that is approved in certain countries outside the United States but is not currently approved in the U.S.

LB-102 is being developed for the treatment of schizophrenia, with the company seeking to evaluate its potential to address the needs of patients and healthcare providers in the U.S.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.