LB Pharmaceuticals (NASDAQ:LBRX) Stock Rating Upgraded by Wall Street Zen

Key Points

• Wall Street Zen upgraded LB Pharmaceuticals from “strong sell” to “sell,” though analyst sentiment remains mixed. MarketBeat reports a consensus “Moderate Buy” rating and an average price target of $57.40.
• Shares opened at $39.70, down 1.1%, with a market capitalization of approximately $1.28 billion. The stock has traded between $14.32 and $50.16 over the past year.
• LB Pharmaceuticals reported quarterly adjusted losses of $1.71 per share, missing the $0.84 consensus estimate, while analysts expect a full-year loss of approximately $5.70 per share.

LB Pharmaceuticals (NASDAQ:LBRX - Get Free Report) was upgraded by equities researchers at Wall Street Zen from a "strong sell" rating to a "sell" rating in a report released on Saturday, Wall Street Zen reports.

A number of other equities research analysts have also commented on LBRX. Zacks Research lowered LB Pharmaceuticals from a "hold" rating to a "strong sell" rating in a research report on Monday, October 12th. Piper Sandler reissued an "overweight" rating and issued a $78.00 price objective on shares of LB Pharmaceuticals in a research note on Monday, August 3rd. Needham & Company LLC assumed coverage on LB Pharmaceuticals in a report on Friday, October 2nd. They set a "buy" rating and a $68.00 target price on the stock. Canaccord Genuity Group began coverage on LB Pharmaceuticals in a research note on Friday, October 9th. They issued a "buy" rating and a $65.00 target price for the company. Finally, Wolfe Research initiated coverage on LB Pharmaceuticals in a report on Tuesday, July 7th. They issued an "outperform" rating and a $45.00 price target for the company. Ten equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, LB Pharmaceuticals has a consensus rating of "Moderate Buy" and an average price target of $57.40.

LB Pharmaceuticals Stock Down 1.1%

NASDAQ:LBRX opened at $39.70 on Friday. The firm has a market cap of $1.28 billion and a PE ratio of -11.54. LB Pharmaceuticals has a 12 month low of $14.32 and a 12 month high of $50.16. The company's 50-day moving average price is $41.38 and its two-hundred day moving average price is $32.45.

LB Pharmaceuticals (NASDAQ:LBRX - Get Free Report) last issued its quarterly earnings data on Tuesday, August 11th. The company reported ($1.71) earnings per share for the quarter, missing the consensus estimate of ($0.84) by ($0.87). On average, research analysts expect that LB Pharmaceuticals will post -5.70 EPS for the current fiscal year.

Institutional Investors Weigh In On LB Pharmaceuticals

Several hedge funds and other institutional investors have recently made changes to their positions in LBRX. Profund Advisors LLC acquired a new stake in LB Pharmaceuticals in the third quarter worth about $1,082,000. Sigma Planning Corp acquired a new position in LB Pharmaceuticals during the 3rd quarter valued at about $1,151,000. Wellington Management Group LLP lifted its position in LB Pharmaceuticals by 11.9% during the 2nd quarter. Wellington Management Group LLP now owns 58,891 shares of the company's stock valued at $1,911,000 after purchasing an additional 6,251 shares during the period. Great Lakes Advisors LLC acquired a new position in LB Pharmaceuticals during the 2nd quarter valued at about $987,000. Finally, Bank of New York Mellon Corp bought a new position in shares of LB Pharmaceuticals in the 2nd quarter valued at about $1,784,000.

LB Pharmaceuticals Company Profile

LB Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company focused on developing treatments for neuropsychiatric disorders. The company's lead product candidate, LB-102, is an investigational oral therapy being developed for schizophrenia and potentially other conditions involving serious disturbances in mood, thought and behavior.

LB-102 is designed as a prodrug of amisulpride, an antipsychotic compound that has been approved in certain markets outside the United States but is not approved by the U.S.

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