LB Pharmaceuticals (NASDAQ:LBRX) Raised to Hold at Zacks Research

Key Points

• LB Pharmaceuticals was upgraded to a "hold" rating by Zacks Research, indicating a positive reassessment of the stock's performance.
• Several other analysts have also initiated coverage, with targets ranging from $27.00 to $34.00 and ratings from "buy" to "strong-buy."
• Director Ran Nussbaum significantly increased his stake in LB Pharmaceuticals by purchasing 1 million shares at $15.00 each, reflecting a 242.91% increase in his position.

LB Pharmaceuticals (NASDAQ:LBRX - Get Free Report) was upgraded by research analysts at Zacks Research to a "hold" rating in a note issued to investors on Tuesday,Zacks.com reports.

A number of other equities research analysts also recently issued reports on LBRX. Stifel Nicolaus assumed coverage on shares of LB Pharmaceuticals in a research report on Monday. They set a "buy" rating and a $27.00 price objective for the company. Leerink Partners initiated coverage on LB Pharmaceuticals in a research report on Monday. They issued an "outperform" rating and a $34.00 price target for the company. Leerink Partnrs raised LB Pharmaceuticals to a "strong-buy" rating in a research note on Monday. Piper Sandler initiated coverage on LB Pharmaceuticals in a research note on Monday. They set an "overweight" rating for the company. Finally, Wall Street Zen raised shares of LB Pharmaceuticals to a "hold" rating in a report on Monday, September 22nd. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of $30.50.

LB Pharmaceuticals Price Performance

LBRX opened at $15.04 on Tuesday. LB Pharmaceuticals has a 12-month low of $13.36 and a 12-month high of $20.25.

Insiders Place Their Bets

In related news, Director Ran Nussbaum purchased 1,000,000 shares of LB Pharmaceuticals stock in a transaction on Friday, September 12th. The shares were bought at an average cost of $15.00 per share, for a total transaction of $15,000,000.00. Following the acquisition, the director owned 1,411,681 shares in the company, valued at approximately $21,175,215. The trade was a 242.91% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

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.

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