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

Key Points

• Analyst consensus: Seven brokerages give LB Pharmaceuticals a "Moderate Buy" rating (1 sell, 1 hold, 4 buy, 1 strong buy) with an average 1‑year price target of $35.25.
• Institutional buying: Several funds opened sizable new positions in the third quarter, including Deep Track Capital (~$52.9M), RA Capital (~$28.1M), TCG Crossover (~$27.6M), Commodore (~$23.7M) and JPMorgan (~$16.3M).
• Stock and earnings snapshot: LBRX opened at $30.73, trading in a 1‑year range of $13.36–$32.90 with a market cap of ~$881.3M and a negative P/E; the company reported Q1 EPS of ($0.45) matching estimates and analysts forecast ~($3.85) for the year.

Shares of LB Pharmaceuticals Inc (NASDAQ:LBRX - Get Free Report) have earned an average rating of "Moderate Buy" from the seven brokerages that are covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, four have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $35.25.

LBRX has been the subject of several recent research reports. Roth Mkm initiated coverage on LB Pharmaceuticals in a research report on Friday, January 9th. They set a "buy" rating and a $31.00 price objective for the company. Weiss Ratings reaffirmed a "sell (e)" rating on shares of LB Pharmaceuticals in a research report on Monday, December 29th. Stifel Nicolaus upped their price objective on LB Pharmaceuticals from $35.00 to $40.00 and gave the stock a "buy" rating in a research report on Friday, March 27th. Finally, Craig Hallum initiated coverage on LB Pharmaceuticals in a research report on Friday, April 10th. They set a "buy" rating and a $36.00 price objective for the company.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of LBRX. Deep Track Capital LP acquired a new position in shares of LB Pharmaceuticals during the third quarter worth about $52,941,000. RA Capital Management L.P. bought a new stake in LB Pharmaceuticals during the third quarter worth about $28,058,000. TCG Crossover Management LLC bought a new stake in LB Pharmaceuticals during the third quarter worth about $27,554,000. Commodore Capital LP bought a new stake in LB Pharmaceuticals during the third quarter worth about $23,685,000. Finally, JPMorgan Chase & Co. bought a new stake in LB Pharmaceuticals during the third quarter worth about $16,305,000.

LB Pharmaceuticals Stock Performance

NASDAQ:LBRX opened at $30.73 on Monday. LB Pharmaceuticals has a 1 year low of $13.36 and a 1 year high of $32.90. The stock has a market cap of $881.34 million and a price-to-earnings ratio of -28.99. The stock has a 50-day moving average price of $25.52 and a two-hundred day moving average price of $21.40.

LB Pharmaceuticals (NASDAQ:LBRX - Get Free Report) last posted its quarterly earnings data on Thursday, March 26th. The company reported ($0.45) earnings per share for the quarter, hitting the consensus estimate of ($0.45). Sell-side analysts forecast that LB Pharmaceuticals will post -3.85 earnings per share for the current year.

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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