LB Pharmaceuticals (NASDAQ:LBRX) Hits New 1-Year High - What's Next?

Key Points

• LB Pharmaceuticals reached a new 52-week high, trading as high as $38.63 before closing near $34.65. Its market capitalization is approximately $1.01 billion, while its 50-day and 200-day moving averages are $30.60 and $27.19, respectively.
• Analyst sentiment remains favorable, with a consensus rating of “Moderate Buy” and an average price target of $40.43. Recent targets include $45 from Wolfe Research and $46 from BMO Capital Markets.
• The clinical-stage biopharmaceutical company reported a quarterly loss of $0.67 per share, beating estimates of a $0.75 loss; analysts expect a full-year loss of approximately $3.58 per share. Institutional investors have also recently initiated positions in the company.

LB Pharmaceuticals Inc (NASDAQ:LBRX - Get Free Report) reached a new 52-week high during trading on Tuesday . The stock traded as high as $38.63 and last traded at $34.6480, with a volume of 27895 shares changing hands. The stock had previously closed at $34.78.

Wall Street Analyst Weigh In

LBRX has been the topic of several research reports. HC Wainwright reiterated a "buy" rating on shares of LB Pharmaceuticals in a research note on Friday. Roth Capital restated a "buy" rating and issued a $37.00 target price on shares of LB Pharmaceuticals in a research note on Sunday, May 17th. BMO Capital Markets started coverage on LB Pharmaceuticals in a report on Monday, July 20th. They set an "outperform" rating and a $46.00 target price for the company. Weiss Ratings raised LB Pharmaceuticals from a "sell (d-)" rating to a "sell (d+)" rating in a report on Friday. Finally, Wolfe Research initiated coverage on LB Pharmaceuticals in a research report on Tuesday, July 7th. They set an "outperform" rating and a $45.00 price objective for the company. Two research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $40.43.

LB Pharmaceuticals Trading Up 1.3%

The company's 50-day moving average is $30.60 and its two-hundred day moving average is $27.19. The stock has a market capitalization of $1.01 billion and a P/E ratio of -20.36.

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

Institutional Investors Weigh In On LB Pharmaceuticals

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

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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