LB Pharmaceuticals (NASDAQ:LBRX) Hits New 12-Month High - Still a Buy?

Key Points

• LB Pharmaceuticals shares reached a new 52-week high, trading as high as $41.71 and up 7.7%, giving the company a market capitalization of approximately $1.24 billion.
• Analyst sentiment is broadly positive, with a consensus rating of “Moderate Buy” and an average price target of $40.43; recent targets range from $45 to $46, although one firm maintains a hold rating.
• The clinical-stage biopharmaceutical company exceeded its latest quarterly EPS forecast, reporting a loss of $0.67 per share versus the expected $0.75 loss, while institutional investors—including Deep Track Capital and RA Capital—established significant positions.

Shares of LB Pharmaceuticals Inc (NASDAQ:LBRX - Get Free Report) hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $41.71 and last traded at $41.7930, with a volume of 45036 shares trading hands. The stock had previously closed at $40.08.

Wall Street Analyst Weigh In

A number of research firms have recently commented on LBRX. Wall Street Zen upgraded shares of LB Pharmaceuticals from a "sell" rating to a "hold" rating in a research note on Sunday, June 21st. HC Wainwright reiterated a "buy" rating and set a $45.00 target price on shares of LB Pharmaceuticals in a report on Monday. BMO Capital Markets started coverage on LB Pharmaceuticals in a research report on Monday, July 20th. They set an "outperform" rating and a $46.00 price target for the company. Roth Capital restated a "buy" rating and issued a $37.00 price target on shares of LB Pharmaceuticals in a research note on Sunday, May 17th. Finally, Wolfe Research assumed coverage on LB Pharmaceuticals in a research report on Tuesday, July 7th. They set an "outperform" rating and a $45.00 price target on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, LB Pharmaceuticals has an average rating of "Moderate Buy" and a consensus price target of $40.43.

LB Pharmaceuticals Stock Up 7.7%

The business's 50 day simple moving average is $31.47 and its 200 day simple moving average is $27.70. The stock has a market cap of $1.24 billion and a price-to-earnings ratio of -24.89.

LB Pharmaceuticals (NASDAQ:LBRX - Get Free Report) last released its quarterly earnings data on Tuesday, May 12th. The company reported ($0.67) earnings per share for the quarter, topping the consensus estimate of ($0.75) by $0.08. Equities research analysts forecast that LB Pharmaceuticals Inc will post -3.58 earnings per share for the current fiscal year.

Hedge Funds Weigh In On LB Pharmaceuticals

A number of institutional investors have recently bought and sold shares of the business. Deep Track Capital LP bought a new position in shares of LB Pharmaceuticals during the 3rd quarter worth approximately $52,941,000. RA Capital Management L.P. bought a new stake in LB Pharmaceuticals in the 3rd quarter valued at $28,058,000. TCG Crossover Management LLC acquired a new stake in LB Pharmaceuticals during the 3rd quarter valued at $27,554,000. Spruce Street Capital LP acquired a new stake in LB Pharmaceuticals during the 4th quarter valued at $22,384,000. Finally, Balyasny Asset Management L.P. bought a new position in LB Pharmaceuticals during the third quarter worth $15,289,000.

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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