LB Pharmaceuticals Inc's Quiet Period Set To End on October 21st (NASDAQ:LBRX)

Key Points

• LB Pharmaceuticals Inc's quiet period will conclude on October 21st, following its public offering of 19,000,000 shares for a total of $285 million.
• Multiple research firms have recently rated LB Pharmaceuticals, with Leerink Partners assigning an "outperform" rating and a price target of $34.00.
• Director Ran Nussbaum purchased 1,000,000 shares at $15.00 each, boosting his stake to approximately 1.4 million shares, marking a significant increase in his ownership position.

LB Pharmaceuticals' (NASDAQ:LBRX - Get Free Report) quiet period is set to end on Tuesday, October 21st. LB Pharmaceuticals had issued 19,000,000 shares in its public offering on September 11th. The total size of the offering was $285,000,000 based on an initial share price of $15.00. During the company's quiet period, underwriters and any insiders involved in the IPO are prevented from issuing any earnings forecasts or research reports for the company because of SEC regulations. Following the end of the company's quiet period, it's expected that the brokerages that served as underwriters on the stock will initiate research coverage on the company.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on LBRX. Zacks Research upgraded LB Pharmaceuticals to a "hold" rating in a research note on Tuesday, October 7th. Leerink Partners assumed coverage on LB Pharmaceuticals in a report on Monday, October 6th. They set an "outperform" rating and a $34.00 price objective on the stock. Leerink Partnrs raised LB Pharmaceuticals to a "strong-buy" rating in a report on Monday, October 6th. Piper Sandler assumed coverage on LB Pharmaceuticals in a report on Monday, October 6th. They set an "overweight" rating on the stock. Finally, Wall Street Zen raised LB Pharmaceuticals to a "hold" rating in a report on Monday, September 22nd. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus target price of $30.50.

LB Pharmaceuticals Stock Performance

NASDAQ:LBRX opened at $16.07 on Tuesday. LB Pharmaceuticals has a twelve month low of $13.36 and a twelve month high of $20.25.

Insider Buying and Selling at LB Pharmaceuticals

In other news, Director Ran Nussbaum acquired 1,000,000 shares of the firm's stock in a transaction that occurred on Friday, September 12th. The shares were bought at an average cost of $15.00 per share, with a total value of $15,000,000.00. Following the acquisition, the director owned 1,411,681 shares in the company, valued at approximately $21,175,215. This represents a 242.91% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

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.

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