LB Pharmaceuticals Inc (NASDAQ:LBRX) Receives Average Recommendation of "Moderate Buy" from Brokerages

Key Points

• LB Pharmaceuticals has a consensus analyst rating of “Moderate Buy” from nine brokerages, with an average 1-year price target of $39.50.
• Recent analyst actions have been largely positive, including price-target increases and reiterated buy ratings from firms like Stifel Nicolaus, Roth Capital, HC Wainwright, and Wolfe Research.
• The stock recently traded at $32.95, near its 52-week high of $35.35, and the company reported a smaller-than-expected quarterly loss with EPS of ($0.67) versus estimates of ($0.75).

LB Pharmaceuticals Inc (NASDAQ:LBRX - Get Free Report) has been given a consensus recommendation of "Moderate Buy" by the nine brokerages that are presently covering the stock, Marketbeat reports. One analyst has rated the stock with a sell rating, one has given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $39.50.

A number of analysts have recently commented on LBRX shares. Stifel Nicolaus boosted their price target on LB Pharmaceuticals from $35.00 to $40.00 and gave the stock a "buy" rating in a research report on Friday, March 27th. Roth Capital reiterated a "buy" rating and set a $37.00 price objective on shares of LB Pharmaceuticals in a research note on Sunday, May 17th. Craig Hallum began coverage on LB Pharmaceuticals in a report on Friday, April 10th. They issued a "buy" rating and a $36.00 target price on the stock. HC Wainwright reissued a "buy" rating on shares of LB Pharmaceuticals in a research note on Monday, June 22nd. Finally, Wolfe Research assumed coverage on LB Pharmaceuticals in a report on Tuesday, July 7th. They set an "outperform" rating and a $45.00 price target for the company.

LB Pharmaceuticals Price Performance

LBRX traded down $0.79 during midday trading on Friday, reaching $32.95. 186,441 shares of the company's stock traded hands, compared to its average volume of 348,907. The firm has a fifty day moving average of $30.27 and a two-hundred day moving average of $26.27. The stock has a market capitalization of $945.01 million and a price-to-earnings ratio of -19.05. LB Pharmaceuticals has a 52 week low of $13.36 and a 52 week high of $35.35.

LB Pharmaceuticals (NASDAQ:LBRX - Get Free Report) last posted its earnings results on Tuesday, May 12th. The company reported ($0.67) EPS for the quarter, topping the consensus estimate of ($0.75) by $0.08. Sell-side analysts forecast that LB Pharmaceuticals will post -3.58 EPS for the current year.

Institutional Trading of LB Pharmaceuticals

A number of large investors have recently made changes to their positions in LBRX. Spruce Street Capital LP bought a new position in LB Pharmaceuticals during the 4th quarter worth about $22,384,000. JPMorgan Chase & Co. bought a new stake in shares of LB Pharmaceuticals in the 3rd quarter valued at about $16,305,000. Boxer Capital Management LLC bought a new stake in shares of LB Pharmaceuticals in the 3rd quarter valued at about $1,105,000. Nan Fung Group Holdings Ltd purchased a new stake in shares of LB Pharmaceuticals in the 3rd quarter worth approximately $4,737,000. Finally, Commodore Capital LP purchased a new stake in shares of LB Pharmaceuticals in the 3rd quarter worth approximately $23,685,000.

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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