LB Pharmaceuticals Inc $LBRX Shares Newly Acquired by Candriam S.C.A.

Key Points

• Candriam S.C.A. acquired 284,233 LB Pharmaceuticals shares in the third quarter, valued at about $10.95 million and representing roughly 0.88% of the company.
• Analyst views are mixed, but the stock has a “Moderate Buy” consensus and an average price target of $57.40; 10 analysts rate it Buy, one Hold, and two Sell.
• LB Pharmaceuticals reported a quarterly loss of $1.79 per share, missing the consensus estimate of a $1.61 loss. Shares opened at $45.12, within a 12-month range of $14.32 to $50.16.

Candriam S.C.A. 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 13F filing with the Securities and Exchange Commission. The firm acquired 284,233 shares of the company's stock, valued at approximately $10,949,000. Candriam S.C.A. owned approximately 0.88% of LB Pharmaceuticals as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Strs Ohio boosted its stake in shares of LB Pharmaceuticals by 50.0% during the 1st 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. Bank of New York Mellon Corp increased its stake in shares of LB Pharmaceuticals by 12.2% in the first quarter. Bank of New York Mellon Corp now owns 45,457 shares of the company's stock worth $1,121,000 after buying an additional 4,940 shares during the last quarter. Wellington Management Group LLP increased its stake in shares of LB Pharmaceuticals by 11.9% in the second quarter. Wellington Management Group LLP now owns 58,891 shares of the company's stock worth $1,911,000 after buying an additional 6,251 shares during the last quarter. Alps Advisors Inc. raised its holdings in LB Pharmaceuticals by 46.8% in the third quarter. Alps Advisors Inc. now owns 42,732 shares of the company's stock valued at $1,640,000 after acquiring an additional 13,630 shares in the last quarter. Finally, Calamos Advisors LLC acquired a new stake in LB Pharmaceuticals in the first quarter valued at $593,000.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Roth Capital downgraded shares of LB Pharmaceuticals from a "buy" rating to a "neutral" rating and dropped their target price for the stock from $37.00 to $35.00 in a research report on Monday, October 5th. Needham & Company LLC assumed coverage on LB Pharmaceuticals in a research note on Friday, October 2nd. They issued a "buy" rating and a $68.00 price target for the company. Guggenheim reissued a "buy" rating on shares of LB Pharmaceuticals in a report on Monday, October 12th. BMO Capital Markets upped their price objective on LB Pharmaceuticals from $46.00 to $54.00 and gave the company an "outperform" rating in a research note on Wednesday, August 12th. Finally, Wall Street Zen cut LB Pharmaceuticals from a "sell" rating to a "strong sell" rating in a research note on Sunday. Ten investment analysts have rated the stock with a Buy rating, one has given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, LB Pharmaceuticals presently has an average rating of "Moderate Buy" and a consensus target price of $57.40.

LB Pharmaceuticals Price Performance

LB Pharmaceuticals stock opened at $45.12 on Tuesday. The company has a market cap of $1.46 billion, a PE ratio of -9.77 and a beta of 0.82. The company has a fifty day moving average price of $40.52 and a two-hundred day moving average price of $33.06. LB Pharmaceuticals Inc has a 12 month low of $14.32 and a 12 month high of $50.16.

LB Pharmaceuticals (NASDAQ:LBRX - Get Free Report) last issued its earnings results on Thursday, November 5th. The company reported ($1.79) earnings per share for the quarter, missing analysts' consensus estimates of ($1.61) by ($0.18). Equities research analysts anticipate that LB Pharmaceuticals Inc will post -5.70 earnings per share for the current year.

LB Pharmaceuticals Company Profile

LB Pharmaceuticals is a clinical-stage biopharmaceutical company developing treatments for serious neuropsychiatric disorders. Its research focuses on medicines intended to address conditions with significant unmet treatment needs.

The company's lead candidate, LB-102, is an oral investigational drug being studied for schizophrenia. LB Pharmaceuticals has also identified other psychiatric conditions, including bipolar disorder, as potential areas of development.

LB-102 has not been approved for commercial use, and its safety and effectiveness have not been established by regulators.

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