LB Pharmaceuticals Inc (NASDAQ:LBRX) Stock Has Average Target Price of $57.40 According to Analysts

Key Points

• Analysts rate LB Pharmaceuticals “Moderate Buy”: Of 13 analysts, 10 recommend buying, one recommends holding, and two recommend selling. The consensus 12-month price target is $57.40, with individual targets ranging from $53 to $78.
• LBRX shares opened at $38.81, below their 50-day moving average of $42.70 but above their 200-day average of $35.46. The stock has traded between $14.32 and $50.16 over the past year.
• The clinical-stage biopharmaceutical company is developing LB-102, an oral prodrug of amisulpride, to treat schizophrenia in the United States. Its latest quarterly loss of $1.71 per share missed the $0.84 analyst consensus, and analysts expect a full-year loss of $5.70 per share.

Shares of LB Pharmaceuticals Inc (NASDAQ:LBRX - Get Free Report) have earned a consensus rating of "Moderate Buy" from the thirteen ratings firms that are currently covering the stock, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and ten have given a buy rating to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $57.40.

LBRX has been the topic of a number of recent analyst reports. Stifel Nicolaus set a $53.00 price target on LB Pharmaceuticals in a report on Thursday, August 13th. Canaccord Genuity Group began coverage on LB Pharmaceuticals in a research report on Friday, October 9th. They issued a "buy" rating and a $65.00 price objective on the stock. Weiss Ratings lowered LB Pharmaceuticals from a "sell (d+)" rating to a "sell (d)" rating in a research note on Tuesday, August 11th. Raymond James Financial upgraded LB Pharmaceuticals to a "buy" rating in a research report on Monday, October 12th. Finally, Piper Sandler reiterated an "overweight" rating and set a $78.00 target price on shares of LB Pharmaceuticals in a research report on Monday, August 3rd.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in LBRX. Strs Ohio grew its holdings in LB Pharmaceuticals by 50.0% during the 1st quarter. Strs Ohio now owns 5,100 shares of the company's stock valued at $126,000 after buying an additional 1,700 shares in the last quarter. Meyer Handelman Co. bought a new stake in shares of LB Pharmaceuticals during the first quarter valued at approximately $372,000. Calamos Advisors LLC bought a new stake in shares of LB Pharmaceuticals during the first quarter valued at approximately $593,000. Great Lakes Advisors LLC purchased a new position in shares of LB Pharmaceuticals in the second quarter worth $987,000. Finally, Bank of New York Mellon Corp lifted its holdings in shares of LB Pharmaceuticals by 12.2% in the first quarter. Bank of New York Mellon Corp now owns 45,457 shares of the company's stock worth $1,121,000 after buying an additional 4,940 shares in the last quarter.

LB Pharmaceuticals Price Performance

Shares of LBRX stock opened at $38.81 on Tuesday. LB Pharmaceuticals has a one year low of $14.32 and a one year high of $50.16. The company's fifty day moving average price is $42.70 and its 200-day moving average price is $35.46. The company has a market capitalization of $1.25 billion and a price-to-earnings ratio of -11.28.

LB Pharmaceuticals (NASDAQ:LBRX - Get Free Report) last issued its earnings results 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). Equities research analysts expect that LB Pharmaceuticals will post -5.70 earnings per share for the current fiscal year.

LB Pharmaceuticals Company Profile

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.

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