LB Pharmaceuticals (NASDAQ:LBRX) Cut to Sell at Wall Street Zen

Key Points

• Wall Street Zen downgraded LB Pharmaceuticals to “sell” from “hold,” though the broader analyst consensus remains “Moderate Buy” with an average price target of $47.75.
• LB Pharmaceuticals reported a quarterly loss of $1.71 per share, missing the consensus estimate of a $0.84 loss; analysts expect a full-year loss of $4.09 per share.
• LBRX shares opened at $47.78, near their 52-week high of $49.14, while the clinical-stage company continues developing LB-102 therapies for schizophrenia, bipolar depression, and other neuropsychiatric conditions.

LB Pharmaceuticals (NASDAQ:LBRX - Get Free Report) was downgraded by analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a research note issued to investors on Saturday.

A number of other equities analysts have also issued reports on LBRX. HC Wainwright restated a "buy" rating and issued a $45.00 target price on shares of LB Pharmaceuticals in a research note on Monday, August 3rd. Stifel Nicolaus set a $53.00 price target on LB Pharmaceuticals in a research note on Thursday. Wolfe Research started coverage on LB Pharmaceuticals in a report on Tuesday, July 7th. They issued an "outperform" rating and a $45.00 price objective on the stock. Piper Sandler restated an "overweight" rating and issued a $78.00 price objective on shares of LB Pharmaceuticals in a research note on Monday, August 3rd. Finally, Roth Capital reaffirmed a "buy" rating and set a $37.00 target price on shares of LB Pharmaceuticals in a report on Sunday, May 17th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, LB Pharmaceuticals currently has an average rating of "Moderate Buy" and an average price target of $47.75.

LB Pharmaceuticals Stock Performance

Shares of LBRX stock opened at $47.78 on Friday. The firm has a market capitalization of $1.54 billion and a price-to-earnings ratio of -13.89. The stock's 50-day simple moving average is $35.02 and its 200-day simple moving average is $29.37. LB Pharmaceuticals has a fifty-two week low of $13.36 and a fifty-two week high of $49.14.

LB Pharmaceuticals (NASDAQ:LBRX - Get Free Report) last released its earnings results on Tuesday, August 11th. The company reported ($1.71) EPS for the quarter, missing analysts' consensus estimates of ($0.84) by ($0.87). As a group, equities analysts forecast that LB Pharmaceuticals will post -4.09 earnings per share for the current year.

Institutional Investors Weigh In On LB Pharmaceuticals

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