30,000 Shares in LB Pharmaceuticals Inc $LBRX Purchased by Sigma Planning Corp

Key Points

• Sigma Planning Corp purchased 30,000 shares of LB Pharmaceuticals during the third quarter, valued at approximately $1.15 million and representing 0.09% of the company.
• LB Pharmaceuticals reported quarterly EPS of -$1.71, missing the consensus estimate of -$0.84; analysts expect a full-year EPS loss of approximately $5.70.
• Analyst sentiment remains generally positive, with a “Moderate Buy” consensus and an average price target of $57.40, versus the stock’s reported price of $40.15.

Sigma Planning Corp purchased a new stake in LB Pharmaceuticals Inc (NASDAQ:LBRX - Free Report) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 30,000 shares of the company's stock, valued at approximately $1,151,000. Sigma Planning Corp owned 0.09% of LB Pharmaceuticals as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of LBRX. Spruce Street Capital LP lifted its position in LB Pharmaceuticals by 36.9% during the 1st quarter. Spruce Street Capital LP now owns 1,376,159 shares of the company's stock worth $33,645,000 after acquiring an additional 370,566 shares in the last quarter. Janus Henderson Group PLC acquired a new stake in LB Pharmaceuticals in the first quarter valued at approximately $1,613,000. Bank of New York Mellon Corp purchased a new stake in shares of LB Pharmaceuticals during the second quarter valued at approximately $1,784,000. Stempoint Capital LP purchased a new stake in shares of LB Pharmaceuticals during the first quarter valued at approximately $1,233,000. Finally, Eversept Partners LP acquired a new position in shares of LB Pharmaceuticals during the first quarter worth $2,471,000.

LB Pharmaceuticals Price Performance

Shares of LBRX stock opened at $40.15 on Friday. The firm has a fifty day moving average of $41.53 and a two-hundred day moving average of $32.35. LB Pharmaceuticals Inc has a 1-year low of $14.32 and a 1-year high of $50.16.

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

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Raymond James Financial raised shares of LB Pharmaceuticals to a "buy" rating in a report on Monday, October 12th. Stifel Nicolaus set a $53.00 price objective on shares of LB Pharmaceuticals in a report on Thursday, August 13th. Needham & Company LLC started coverage on shares of LB Pharmaceuticals in a research report on Friday, October 2nd. They issued a "buy" rating and a $68.00 price objective for the company. Weiss Ratings downgraded LB Pharmaceuticals from a "sell (d+)" rating to a "sell (d)" rating in a research note on Tuesday, August 11th. Finally, Wolfe Research assumed coverage on LB Pharmaceuticals in a research report on Tuesday, July 7th. They set an "outperform" rating and a $45.00 target price on the stock. Ten analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $57.40.

LB Pharmaceuticals 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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