LB Pharmaceuticals (NASDAQ:LBRX) Reaches New 1-Year High - Should You Buy?

Key Points

• Shares of LB Pharmaceuticals reached a new 52-week high intraday at $27.68 (last at $27.588) on Wednesday with about 101,867 shares traded.
• Analyst sentiment is broadly positive — MarketBeat shows an average rating of "Moderate Buy" with an average price target of $35.25, and recent firm targets ranging up to $40 alongside multiple buy/strong-buy initiations.
• Institutional investors have built sizable new stakes while the company remains a clinical-stage biopharma (lead asset LB-102); fundamentals show a market cap of $796.74M, a negative P/E (-26.22), and reported quarterly EPS of ($0.45) in line with estimates.

LB Pharmaceuticals Inc (NASDAQ:LBRX - Get Free Report) shares reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $27.68 and last traded at $27.5880, with a volume of 101867 shares changing hands. The stock had previously closed at $26.57.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Weiss Ratings reiterated a "sell (e)" rating on shares of LB Pharmaceuticals in a research note on Monday, December 29th. Roth Mkm assumed coverage on shares of LB Pharmaceuticals in a report on Friday, January 9th. They issued a "buy" rating and a $31.00 price target on the stock. Craig Hallum assumed coverage on shares of LB Pharmaceuticals in a report on Friday, April 10th. They set a "buy" rating and a $36.00 price objective for the company. Finally, Stifel Nicolaus upped their target price on shares of LB Pharmaceuticals from $35.00 to $40.00 and gave the stock a "buy" rating in a research note on Friday, March 27th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, LB Pharmaceuticals presently has an average rating of "Moderate Buy" and an average target price of $35.25.

LB Pharmaceuticals Price Performance

The business has a 50-day moving average of $24.40 and a two-hundred day moving average of $20.54. The company has a market cap of $796.74 million and a P/E ratio of -26.22.

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

Hedge Funds Weigh In On LB Pharmaceuticals

Several institutional investors and hedge funds have recently bought and sold shares of the company. Deep Track Capital LP purchased a new stake in shares of LB Pharmaceuticals during the 3rd quarter valued at $52,941,000. RA Capital Management L.P. purchased a new stake in LB Pharmaceuticals in the third quarter valued at about $28,058,000. TCG Crossover Management LLC purchased a new stake in shares of LB Pharmaceuticals during the third quarter worth about $27,554,000. Commodore Capital LP acquired a new position in shares of LB Pharmaceuticals during the third quarter valued at about $23,685,000. Finally, JPMorgan Chase & Co. acquired a new stake in LB Pharmaceuticals in the 3rd quarter worth approximately $16,305,000.

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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