HC Wainwright Forecasts Strong Price Appreciation for LB Pharmaceuticals (NASDAQ:LBRX) Stock

Key Points

• HC Wainwright raised its LB Pharmaceuticals price target to $60 from $45 and maintained a “buy” rating, implying 26% upside from the prior close.
• Analyst sentiment is broadly positive, with a consensus “Moderate Buy” rating and an average price target of $49.62; targets from other firms range from $37 to $78.
• LB Pharmaceuticals’ shares opened at $47.62 after a strong run, but the company reported a quarterly loss of $1.71 per share, missing the $0.84 consensus estimate, and analysts expect a full-year loss of $4.67 per share.

LB Pharmaceuticals (NASDAQ:LBRX - Get Free Report) had its target price lifted by investment analysts at HC Wainwright from $45.00 to $60.00 in a research report issued to clients and investors on Monday, Marketbeat reports. The brokerage presently has a "buy" rating on the stock. HC Wainwright's price objective indicates a potential upside of 26.00% from the stock's previous close.

A number of other brokerages have also recently commented on LBRX. Roth Capital reissued a "buy" rating and issued a $37.00 price objective on shares of LB Pharmaceuticals in a research note on Sunday, May 17th. Weiss Ratings cut LB Pharmaceuticals from a "sell (d+)" rating to a "sell (d)" rating in a report on Tuesday, August 11th. Wolfe Research initiated coverage on shares of LB Pharmaceuticals in a research report on Tuesday, July 7th. They issued an "outperform" rating and a $45.00 price target for the company. Piper Sandler restated an "overweight" rating and set a $78.00 price target on shares of LB Pharmaceuticals in a research note on Monday, August 3rd. Finally, BMO Capital Markets upped their price objective on shares of LB Pharmaceuticals from $46.00 to $54.00 and gave the stock an "outperform" rating in a report on Wednesday, August 12th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, LB Pharmaceuticals currently has an average rating of "Moderate Buy" and a consensus target price of $49.62.

LB Pharmaceuticals Stock Performance

Shares of NASDAQ LBRX opened at $47.62 on Monday. The firm has a market capitalization of $1.54 billion and a P/E ratio of -13.84. The firm's 50-day moving average price is $36.92 and its 200-day moving average price is $30.33. LB Pharmaceuticals has a 1-year low of $13.36 and a 1-year high of $49.97.

LB Pharmaceuticals (NASDAQ:LBRX - Get Free Report) last issued its 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). Equities research analysts forecast that LB Pharmaceuticals will post -4.67 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the stock. California State Teachers Retirement System bought a new position in LB Pharmaceuticals during the 4th quarter valued at $26,000. Jane Street Group LLC grew its stake in shares of LB Pharmaceuticals by 4.6% in the 4th quarter. Jane Street Group LLC now owns 31,733 shares of the company's stock worth $706,000 after acquiring an additional 1,388 shares in the last quarter. Russell Investments Group Ltd. purchased a new stake in shares of LB Pharmaceuticals in the fourth quarter valued at about $34,000. Bank of America Corp DE purchased a new stake in shares of LB Pharmaceuticals in the third quarter valued at about $27,000. Finally, Strs Ohio lifted its position in shares of LB Pharmaceuticals by 50.0% during the first quarter. Strs Ohio now owns 5,100 shares of the company's stock valued at $126,000 after purchasing an additional 1,700 shares in the last quarter.

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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