100,000 Shares in LB Pharmaceuticals Inc $LBRX Purchased by Integral Health Asset Management LLC

Key Points

• Integral Health Asset Management acquired a new stake of 100,000 shares in LB Pharmaceuticals (NASDAQ:LBRX) in Q3, valued at about $1.58 million and representing roughly 0.40% of the company.
• Several other institutions also initiated or increased positions in Q3, most notably Nan Fung Group's new $4.74 million stake, along with purchases by Monashee, TD Asset Management, Jefferies, and Landscape Capital.
• LBRX opened at $25.67 (up 2.9%), has a market cap of $649.45 million and a one-year range of $13.36–$26.65; analysts give a consensus rating of Moderate Buy with a $33.33 average price target amid mixed individual ratings.

Integral Health Asset Management LLC acquired a new stake in shares of LB Pharmaceuticals Inc (NASDAQ:LBRX - Free Report) in the third quarter, according to the company in its most recent filing with the SEC. The firm acquired 100,000 shares of the company's stock, valued at approximately $1,579,000. Integral Health Asset Management LLC owned approximately 0.40% of LB Pharmaceuticals at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the stock. Nan Fung Group Holdings Ltd purchased a new position in shares of LB Pharmaceuticals during the third quarter worth approximately $4,737,000. Landscape Capital Management L.L.C. purchased a new stake in shares of LB Pharmaceuticals in the third quarter valued at approximately $168,000. Jefferies Financial Group Inc. purchased a new stake in shares of LB Pharmaceuticals in the third quarter valued at approximately $207,000. Monashee Investment Management LLC bought a new position in LB Pharmaceuticals in the third quarter worth approximately $632,000. Finally, TD Asset Management Inc purchased a new position in LB Pharmaceuticals during the 3rd quarter worth $581,000.

LB Pharmaceuticals Trading Up 2.9%

LBRX stock opened at $25.67 on Friday. The firm's 50-day moving average price is $22.80. LB Pharmaceuticals Inc has a one year low of $13.36 and a one year high of $26.65. The stock has a market capitalization of $649.45 million and a price-to-earnings ratio of -42.08.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on LBRX shares. Weiss Ratings reaffirmed a "sell (e)" rating on shares of LB Pharmaceuticals in a research report on Monday, December 29th. Roth Mkm began coverage on shares of LB Pharmaceuticals in a report on Friday, January 9th. They issued a "buy" rating and a $31.00 price target for the company. Finally, Stifel Nicolaus increased their price objective on shares of LB Pharmaceuticals from $27.00 to $35.00 and gave the company a "buy" rating in a research note on Thursday, December 11th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $33.33.

LB Pharmaceuticals Profile

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.

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