LB Pharmaceuticals (NASDAQ:LBRX) Raised to "Strong-Buy" at HC Wainwright

Key Points

• HC Wainwright upgraded LB Pharmaceuticals (NASDAQ:LBRX) to a Strong-Buy, and other analysts have issued several buy ratings leading to a consensus target price of $37.20 and an average rating of "Moderate Buy".
• Shares were trading up about 3.5% at an opening price of $31.81, near a 12‑month high of $33.47 (low $13.36); the company has a market cap of roughly $912 million and a negative P/E of -30.01.
• Significant institutional activity has occurred recently, with firms like Deep Track Capital, RA Capital, TCG Crossover, JPMorgan and Commodore Capital adding or increasing stakes worth tens of millions, indicating growing institutional interest.

LB Pharmaceuticals (NASDAQ:LBRX - Get Free Report) was upgraded by equities researchers at HC Wainwright to a "strong-buy" rating in a research report issued on Monday, MarketBeat reports.

Other analysts also recently issued research reports about the stock. Weiss Ratings restated a "sell (e)" rating on shares of LB Pharmaceuticals in a report on Monday, December 29th. Roth Mkm initiated coverage on LB Pharmaceuticals in a research report on Friday, January 9th. They issued a "buy" rating and a $31.00 price objective for the company. Stifel Nicolaus lifted 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, Craig Hallum started coverage on LB Pharmaceuticals in a research note on Friday, April 10th. They issued a "buy" rating and a $36.00 price target on the stock. Two investment analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $37.20.

LB Pharmaceuticals Trading Up 3.5%

Shares of LBRX stock opened at $31.81 on Monday. LB Pharmaceuticals has a twelve month low of $13.36 and a twelve month high of $33.47. The company's 50-day moving average price is $25.69 and its 200-day moving average price is $21.51. The stock has a market cap of $912.31 million and a price-to-earnings ratio of -30.01.

LB Pharmaceuticals (NASDAQ:LBRX - Get Free Report) last released its quarterly earnings data on Thursday, March 26th. The company reported ($0.45) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.45). As a group, equities research analysts predict that LB Pharmaceuticals will post -3.85 EPS for the current year.

Institutional Trading of LB Pharmaceuticals

A number of institutional investors and hedge funds have recently added to or reduced their stakes in LBRX. Deep Track Capital LP acquired a new stake in shares of LB Pharmaceuticals in the third quarter valued at $52,941,000. RA Capital Management L.P. lifted its position in shares of LB Pharmaceuticals by 24.3% during the fourth quarter. RA Capital Management L.P. now owns 2,208,604 shares of the company's stock worth $49,164,000 after purchasing an additional 431,646 shares in the last quarter. TCG Crossover Management LLC purchased a new position in shares of LB Pharmaceuticals in the third quarter valued at approximately $27,554,000. JPMorgan Chase & Co. grew its holdings in shares of LB Pharmaceuticals by 56.1% in the fourth quarter. JPMorgan Chase & Co. now owns 1,611,482 shares of the company's stock valued at $35,872,000 after purchasing an additional 578,879 shares in the last quarter. Finally, Commodore Capital LP purchased a new stake in LB Pharmaceuticals during the 3rd quarter worth approximately $23,685,000.

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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