LB Pharmaceuticals (NASDAQ:LBRX) Now Covered by Analysts at Leerink Partners

Key Points

• Analysts at Leerink Partners have initiated coverage on LB Pharmaceuticals (NASDAQ:LBRX) with an "outperform" rating and a price target of $34.00, suggesting a potential upside of 125.91%.
• Director Ran Nussbaum purchased 1,000,000 shares at $15.00 each, significantly increasing his shareholding by 242.91%.
• LB Pharmaceuticals currently holds a consensus rating of "Buy" with an average price target of $30.50 across several analysts, highlighting investor confidence in the company's potential.

Equities researchers at Leerink Partners assumed coverage on shares of LB Pharmaceuticals (NASDAQ:LBRX - Get Free Report) in a report issued on Monday,Benzinga reports. The brokerage set an "outperform" rating and a $34.00 price target on the stock. Leerink Partners' target price indicates a potential upside of 125.91% from the stock's current price.

LBRX has been the topic of several other reports. Wall Street Zen upgraded LB Pharmaceuticals to a "hold" rating in a research report on Monday, September 22nd. Piper Sandler began coverage on shares of LB Pharmaceuticals in a report on Monday. They issued an "overweight" rating on the stock. Finally, Stifel Nicolaus set a $27.00 price target on shares of LB Pharmaceuticals in a research note on Monday. Two investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, LB Pharmaceuticals presently has a consensus rating of "Buy" and an average price target of $30.50.

LB Pharmaceuticals Price Performance

Shares of NASDAQ:LBRX opened at $15.05 on Monday. LB Pharmaceuticals has a one year low of $13.36 and a one year high of $20.25.

Insider Transactions at LB Pharmaceuticals

In related news, Director Ran Nussbaum purchased 1,000,000 shares of the firm's stock in a transaction that occurred on Friday, September 12th. The stock was acquired at an average cost of $15.00 per share, for a total transaction of $15,000,000.00. Following the completion of the acquisition, the director owned 1,411,681 shares in the company, valued at $21,175,215. This trade represents a 242.91% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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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