200,000 Shares in LB Pharmaceuticals Inc $LBRX Bought by Baker BROS. Advisors LP

Key Points

• Baker BROS. Advisors LP purchased a new stake of 200,000 shares in LB Pharmaceuticals (LBRX) during Q3—about $3.16 million and roughly 0.79% ownership per the SEC filing.
• Shares trade around $25.67 (1‑year range $13.36–$26.65) with a market cap of $649.4M and a negative P/E of −42.08; analysts hold a consensus "Moderate Buy" with a consensus target of $33.33 (individual targets up to $35 and one sell rating).
• LB Pharmaceuticals is a clinical‑stage biopharma developing LB‑102 for schizophrenia, bipolar depression and other neuropsychiatric disorders, positioning LB‑102 as a potential first U.S. benzamide antipsychotic.

Baker BROS. Advisors LP purchased a new stake in LB Pharmaceuticals Inc (NASDAQ:LBRX - Free Report) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 200,000 shares of the company's stock, valued at approximately $3,158,000. Baker BROS. Advisors LP owned approximately 0.79% of LB Pharmaceuticals as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in LBRX. Bank of America Corp DE purchased a new stake in shares of LB Pharmaceuticals in the 3rd quarter worth about $27,000. Federated Hermes Inc. purchased a new position in shares of LB Pharmaceuticals during the third quarter valued at about $142,000. Landscape Capital Management L.L.C. purchased a new position in shares of LB Pharmaceuticals during the third quarter valued at about $168,000. Jefferies Financial Group Inc. bought a new position in LB Pharmaceuticals in the third quarter worth about $207,000. Finally, Two Sigma Investments LP purchased a new stake in LB Pharmaceuticals in the third quarter worth about $213,000.

LB Pharmaceuticals Stock Performance

Shares of LB Pharmaceuticals stock opened at $25.67 on Friday. LB Pharmaceuticals Inc has a 1 year low of $13.36 and a 1 year high of $26.65. The company has a market cap of $649.43 million and a price-to-earnings ratio of -42.08. The stock has a 50-day simple moving average of $22.80.

Analysts Set New Price Targets

LBRX has been the topic of several research reports. Roth Mkm assumed coverage on LB Pharmaceuticals in a research report on Friday, January 9th. They set a "buy" rating and a $31.00 price objective on the stock. Stifel Nicolaus raised their target price on LB Pharmaceuticals from $27.00 to $35.00 and gave the company a "buy" rating in a research note on Thursday, December 11th. Finally, Weiss Ratings restated a "sell (e)" rating on shares of LB Pharmaceuticals in a research report on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $33.33.

LB Pharmaceuticals Company 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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