LB Pharmaceuticals (NASDAQ:LBRX) Receives "Buy" Rating from HC Wainwright

Key Points

• HC Wainwright reiterated its “Buy” rating on LB Pharmaceuticals and set a $45 price target, implying 12.28% upside from the previous close.
• Analyst sentiment is broadly positive, with the stock carrying a consensus “Moderate Buy” rating and an average price target of $40.43.
• LB Pharmaceuticals shares opened at $40.08, near their 12-month high of $41.33; the clinical-stage biotech recently reported a quarterly loss of $0.67 per share, though it beat estimates by $0.08.

LB Pharmaceuticals (NASDAQ:LBRX - Get Free Report)'s stock had its "buy" rating reissued by analysts at HC Wainwright in a note issued to investors on Monday,Benzinga reports. They presently have a $45.00 target price on the stock. HC Wainwright's price target would suggest a potential upside of 12.28% from the stock's previous close.

Several other brokerages have also recently commented on LBRX. Wolfe Research assumed coverage on shares of LB Pharmaceuticals in a report on Tuesday, July 7th. They issued an "outperform" rating and a $45.00 target price for the company. BMO Capital Markets started coverage on shares of LB Pharmaceuticals in a report on Monday, July 20th. They set an "outperform" rating and a $46.00 price target for the company. Wall Street Zen raised shares of LB Pharmaceuticals from a "sell" rating to a "hold" rating in a research note on Sunday, June 21st. Craig Hallum began coverage on LB Pharmaceuticals in a report on Friday, April 10th. They issued a "buy" rating and a $36.00 price objective on the stock. Finally, Roth Capital reiterated a "buy" rating and issued a $37.00 price objective on shares of LB Pharmaceuticals in a report on Sunday, May 17th. Two analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $40.43.

LB Pharmaceuticals Price Performance

Shares of NASDAQ:LBRX opened at $40.08 on Monday. The stock's 50 day moving average price is $31.47 and its 200 day moving average price is $27.70. The stock has a market cap of $1.15 billion and a price-to-earnings ratio of -23.17. LB Pharmaceuticals has a 12 month low of $13.36 and a 12 month high of $41.33.

LB Pharmaceuticals (NASDAQ:LBRX - Get Free Report) last released its earnings results on Tuesday, May 12th. The company reported ($0.67) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.75) by $0.08. On average, sell-side analysts expect that LB Pharmaceuticals will post -3.58 EPS for the current year.

Institutional Investors Weigh In On LB Pharmaceuticals

Institutional investors have recently added to or reduced their stakes in the company. California State Teachers Retirement System bought a new position in LB Pharmaceuticals during the fourth quarter valued at about $26,000. Bank of America Corp DE bought a new stake in shares of LB Pharmaceuticals during the third quarter valued at approximately $27,000. Russell Investments Group Ltd. bought a new position in LB Pharmaceuticals in the fourth quarter worth $34,000. Strs Ohio acquired a new stake in LB Pharmaceuticals during the fourth quarter worth $76,000. Finally, Persistent Asset Partners Ltd acquired a new position in shares of 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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