Janus Henderson Group PLC Takes Position in LB Pharmaceuticals Inc $LBRX

Key Points

• Janus Henderson Group acquired 65,429 shares of LB Pharmaceuticals worth approximately $1.6 million, representing a 0.23% stake. Several other institutional investors also recently initiated positions.
• Analyst sentiment is generally positive, with LB Pharmaceuticals receiving a “Moderate Buy” consensus rating and an average price target of $45.12, despite ratings ranging from Sell to Strong Buy.
• LB Pharmaceuticals shares opened at $48.00, near their 12-month high of $49.14. The clinical-stage biopharmaceutical company reported a quarterly loss of $0.67 per share, beating the $0.75 consensus estimate.

Janus Henderson Group PLC purchased a new stake in LB Pharmaceuticals Inc (NASDAQ:LBRX - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 65,429 shares of the company's stock, valued at approximately $1,613,000. Janus Henderson Group PLC owned 0.23% of LB Pharmaceuticals at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. California State Teachers Retirement System acquired a new position in LB Pharmaceuticals in the 4th quarter valued at about $26,000. Bank of America Corp DE bought a new position in shares of LB Pharmaceuticals during the third quarter worth approximately $27,000. Russell Investments Group Ltd. acquired a new stake in LB Pharmaceuticals during the 4th quarter worth approximately $34,000. Strs Ohio acquired a new stake in LB Pharmaceuticals during the 4th quarter worth approximately $76,000. Finally, Persistent Asset Partners Ltd bought a new stake in LB Pharmaceuticals in the 4th quarter valued at $91,000.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the stock. Wall Street Zen raised shares of LB Pharmaceuticals from a "sell" rating to a "hold" rating in a report on Sunday, June 21st. Weiss Ratings raised LB Pharmaceuticals from a "sell (d-)" rating to a "sell (d+)" rating in a research report on Friday, July 24th. Piper Sandler restated an "overweight" rating and set a $78.00 price objective on shares of LB Pharmaceuticals in a research note on Monday, August 3rd. HC Wainwright reaffirmed a "buy" rating and issued a $45.00 price objective on shares of LB Pharmaceuticals in a report on Monday, August 3rd. Finally, BMO Capital Markets initiated coverage on LB Pharmaceuticals in a report on Monday, July 20th. They set an "outperform" rating and a $46.00 target price on the stock. Two analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, LB Pharmaceuticals has an average rating of "Moderate Buy" and an average price target of $45.12.

LB Pharmaceuticals Stock Performance

Shares of NASDAQ LBRX opened at $48.00 on Monday. The company has a market cap of $1.38 billion and a price-to-earnings ratio of -27.75. LB Pharmaceuticals Inc has a 12 month low of $13.36 and a 12 month high of $49.14. The stock has a 50-day moving average price of $33.26 and a two-hundred day moving average price of $28.61.

LB Pharmaceuticals (NASDAQ:LBRX - Get Free Report) last posted its quarterly earnings results on Tuesday, May 12th. The company reported ($0.67) earnings per share for the quarter, beating analysts' consensus estimates of ($0.75) by $0.08. On average, sell-side analysts predict that LB Pharmaceuticals Inc will post -3.55 earnings per share for the current year.

About LB Pharmaceuticals

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source