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

Key Points

• "Moderate Buy" consensus from six analysts (1 sell, 1 hold, 3 buy, 1 strong buy) with an average 12‑month target price of $33.33.
• Shares opened at $23.78, trade between a 52‑week low of $13.36 and high of $25.60, and the company has a market cap of $601.63M with a negative P/E of -38.98.
• Several institutional investors recently initiated small new positions (including CalSTRS, Russell Investments, Bank of America, STRS Ohio and Persistent Asset Partners), indicating modest institutional interest.

Shares of LB Pharmaceuticals Inc (NASDAQ:LBRX - Get Free Report) have earned an average recommendation of "Moderate Buy" from the six analysts that are presently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, three have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $33.3333.

A number of research firms have issued reports on LBRX. Roth Mkm started coverage on LB Pharmaceuticals in a research note on Friday, January 9th. They issued a "buy" rating and a $31.00 price objective on the stock. Stifel Nicolaus increased their price target on LB Pharmaceuticals from $27.00 to $35.00 and gave the stock a "buy" rating in a report on Thursday, December 11th. Finally, Weiss Ratings reiterated a "sell (e)" rating on shares of LB Pharmaceuticals in a report on Monday, December 29th.

LB Pharmaceuticals Price Performance

Shares of LB Pharmaceuticals stock opened at $23.78 on Friday. LB Pharmaceuticals has a fifty-two week low of $13.36 and a fifty-two week high of $25.60. The company has a market cap of $601.63 million and a P/E ratio of -38.98. The business has a fifty day moving average price of $22.49.

Institutional Trading of LB Pharmaceuticals

Several large investors have recently bought and sold shares of the stock. California State Teachers Retirement System acquired a new stake in LB Pharmaceuticals during the 4th quarter worth about $26,000. Russell Investments Group Ltd. acquired a new stake in shares of LB Pharmaceuticals in the fourth quarter valued at approximately $34,000. Bank of America Corp DE purchased a new position in LB Pharmaceuticals during the third quarter worth about $27,000. Strs Ohio purchased a new stake in shares of LB Pharmaceuticals during the 4th quarter valued at approximately $76,000. Finally, Persistent Asset Partners Ltd purchased a new position in LB Pharmaceuticals in the fourth quarter worth approximately $91,000.

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.

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