LB Pharmaceuticals (NASDAQ:LBRX) Now Covered by Analysts at Craig Hallum

Key Points

• Craig Hallum initiated coverage of LB Pharmaceuticals with a buy rating and a $36.00 price target, implying roughly a 36.9% upside from the current share price.
• MarketBeat shows a consensus of Moderate Buy (one Strong Buy, four Buy, one Hold, one Sell) and a consensus target price of $35.25.
• LB Pharmaceuticals is a clinical‑stage biopharma developing LB‑102 for schizophrenia and bipolar depression; shares opened at $26.29, the company has a market cap of about $753.7M and reported quarterly EPS of ($0.45) with a negative P/E.

Stock analysts at Craig Hallum initiated coverage on shares of LB Pharmaceuticals (NASDAQ:LBRX - Get Free Report) in a report issued on Friday. The brokerage set a "buy" rating and a $36.00 price target on the stock. Craig Hallum's price target indicates a potential upside of 36.93% from the company's current price.

A number of other research analysts have also commented on LBRX. Weiss Ratings reiterated a "sell (e)" rating on shares of LB Pharmaceuticals in a research note on Monday, December 29th. Stifel Nicolaus upped their target price on LB Pharmaceuticals from $35.00 to $40.00 and gave the company a "buy" rating in a research report on Friday, March 27th. Finally, Roth Mkm began coverage on LB Pharmaceuticals in a research note on Friday, January 9th. They set a "buy" rating and a $31.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $35.25.

LB Pharmaceuticals Trading Up 1.2%

LBRX opened at $26.29 on Friday. The stock's fifty day simple moving average is $24.20 and its 200 day simple moving average is $20.26. LB Pharmaceuticals has a 1-year low of $13.36 and a 1-year high of $27.55. The stock has a market cap of $753.73 million and a PE ratio of -24.80.

LB Pharmaceuticals (NASDAQ:LBRX - Get Free Report) last released its quarterly earnings data on Thursday, March 26th. The company reported ($0.45) EPS for the quarter, hitting analysts' consensus estimates of ($0.45).

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the business. California State Teachers Retirement System acquired a new stake in shares of LB Pharmaceuticals in the fourth quarter valued at approximately $26,000. Russell Investments Group Ltd. acquired a new stake in LB Pharmaceuticals during the fourth quarter worth approximately $34,000. Bank of America Corp DE bought a new position in LB Pharmaceuticals during the 3rd quarter worth $27,000. Strs Ohio acquired a new position in LB Pharmaceuticals in the 4th quarter valued at $76,000. Finally, Persistent Asset Partners Ltd acquired a new position in LB Pharmaceuticals in the 4th quarter valued at $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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