LB Pharmaceuticals Inc (NASDAQ:LBRX) Stock Rated "Moderate Buy" by Sell-Side Analysts

Key Points

• Analysts rate LB Pharmaceuticals “Moderate Buy”: Seven analysts recommend buying the stock, one gives a strong-buy rating, while one rates it a hold and one a sell. The average 12-month price target is $49.62, with recent targets ranging from $45 to $78.
• LB Pharmaceuticals shares opened at $37.80, down 3.5%, compared with a 52-week range of $13.36 to $50.16. The company has a market capitalization of approximately $1.22 billion.
• The clinical-stage biopharmaceutical company reported a quarterly loss of $1.71 per share, missing the consensus estimate of $0.84, while developing LB-102, a long-acting injectable antipsychotic for schizophrenia.

LB Pharmaceuticals Inc (NASDAQ:LBRX - Get Free Report) has received a consensus rating of "Moderate Buy" from the ten brokerages that are presently covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, seven have given a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $49.62.

Several research analysts have weighed in on LBRX shares. Wolfe Research started coverage on LB Pharmaceuticals in a research note on Tuesday, July 7th. They issued an "outperform" rating and a $45.00 price target for the company. Weiss Ratings downgraded shares of LB Pharmaceuticals from a "sell (d+)" rating to a "sell (d)" rating in a report on Tuesday, August 11th. BMO Capital Markets upped 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. HC Wainwright lifted their price target on shares of LB Pharmaceuticals from $45.00 to $60.00 and gave the company a "buy" rating in a report on Monday, August 24th. Finally, Piper Sandler reiterated an "overweight" rating and issued a $78.00 price target on shares of LB Pharmaceuticals in a research note on Monday, August 3rd.

Institutional Investors Weigh In On LB Pharmaceuticals

A number of hedge funds have recently made changes to their positions in LBRX. Strs Ohio boosted its stake in LB Pharmaceuticals by 50.0% during the first quarter. Strs Ohio now owns 5,100 shares of the company's stock valued at $126,000 after buying an additional 1,700 shares during the last quarter. Meyer Handelman Co. bought a new stake in LB Pharmaceuticals in the 1st quarter worth approximately $372,000. Calamos Advisors LLC purchased a new stake in shares of LB Pharmaceuticals during the 1st quarter worth approximately $593,000. Great Lakes Advisors LLC bought a new position in shares of LB Pharmaceuticals during the 2nd quarter valued at approximately $987,000. Finally, Bank of New York Mellon Corp boosted its position in shares of LB Pharmaceuticals by 12.2% during the 1st quarter. Bank of New York Mellon Corp now owns 45,457 shares of the company's stock valued at $1,121,000 after acquiring an additional 4,940 shares during the last quarter.

LB Pharmaceuticals Stock Down 3.5%

Shares of LB Pharmaceuticals stock opened at $37.80 on Friday. The stock's 50-day simple moving average is $43.66 and its 200-day simple moving average is $34.03. LB Pharmaceuticals has a 52 week low of $13.36 and a 52 week high of $50.16. The company has a market capitalization of $1.22 billion and a price-to-earnings ratio of -10.99.

LB Pharmaceuticals (NASDAQ:LBRX - Get Free Report) last released its 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 analysts expect that LB Pharmaceuticals will post -5.78 earnings per share for the current year.

LB Pharmaceuticals Company Profile

LB Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company focused on developing treatments for serious neuropsychiatric disorders. The company's lead product candidate, LB-102, is a long-acting injectable antipsychotic being developed for the treatment of schizophrenia.

LB-102 is designed to provide sustained delivery of its active pharmaceutical ingredient and potentially support adherence compared with daily oral therapies. LB Pharmaceuticals is evaluating the candidate through clinical development intended to assess its safety, tolerability, pharmacokinetics and effectiveness in people with schizophrenia.

The company's activities are centered on advancing its pipeline through clinical trials and regulatory development.

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