LB Pharmaceuticals Inc (NASDAQ:LBRX) Given Consensus Rating of "Buy" by Brokerages

Key Points

• LB Pharmaceuticals Inc (NASDAQ:LBRX) received an average rating of "Buy" from five analysts, with targets ranging from $27.00 to $34.00 per share.
• Director Ran Nussbaum purchased 1,000,000 shares at $15.00 each, significantly increasing his ownership by 242.91%.
• The company's lead product candidate, LB-102, aims to be the first benzamide antipsychotic drug approved for neuropsychiatric disorders in the U.S.

Shares of LB Pharmaceuticals Inc (NASDAQ:LBRX - Get Free Report) have been assigned an average rating of "Buy" from the five analysts that are covering the stock, Marketbeat reports. One investment analyst has rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among brokers that have covered the stock in the last year is $30.50.

A number of equities research analysts recently commented on the company. Stifel Nicolaus initiated coverage on LB Pharmaceuticals in a research report on Monday. They issued a "buy" rating and a $27.00 price target for the company. Leerink Partners initiated coverage on LB Pharmaceuticals in a research note on Monday. They issued an "outperform" rating and a $34.00 price objective for the company. Wall Street Zen upgraded LB Pharmaceuticals to a "hold" rating in a research note on Monday, September 22nd. Leerink Partnrs upgraded LB Pharmaceuticals to a "strong-buy" rating in a research note on Monday. Finally, Zacks Research upgraded LB Pharmaceuticals to a "hold" rating in a research note on Tuesday.

LB Pharmaceuticals Price Performance

NASDAQ LBRX opened at $15.04 on Thursday. LB Pharmaceuticals has a 12 month low of $13.36 and a 12 month high of $20.25.

Insider Buying and Selling at LB Pharmaceuticals

In other news, Director Ran Nussbaum purchased 1,000,000 shares of the business's stock in a transaction dated Friday, September 12th. The stock was bought at an average price of $15.00 per share, for a total transaction of $15,000,000.00. Following the purchase, the director owned 1,411,681 shares of the company's stock, valued at $21,175,215. The trade was a 242.91% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

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.

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