LB Pharmaceuticals (NASDAQ:LBRX) Sets New 12-Month High - Time to Buy?

Key Points

• LB Pharmaceuticals shares reached a new 52-week high of $49.77 and were last trading near $49.42, giving the company a market capitalization of approximately $1.57 billion.
• Analyst sentiment remains broadly positive, with a consensus rating of “Moderate Buy” and an average price target of $47.75, though targets range from $37 to $78 and one firm downgraded the stock to “sell.”
• The clinical-stage biopharmaceutical company reported a quarterly loss of $1.71 per share, worse than the expected $0.84 loss, while analysts project a full-year loss of $4.67 per share.

Shares of LB Pharmaceuticals Inc (NASDAQ:LBRX - Get Free Report) hit a new 52-week high during trading on Wednesday . The company traded as high as $49.77 and last traded at $49.4160, with a volume of 221 shares traded. The stock had previously closed at $48.77.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on LBRX shares. HC Wainwright reaffirmed a "buy" rating and set a $45.00 price target on shares of LB Pharmaceuticals in a research note on Monday, August 3rd. Piper Sandler reissued an "overweight" rating and issued a $78.00 price objective on shares of LB Pharmaceuticals in a research note on Monday, August 3rd. Wall Street Zen downgraded LB Pharmaceuticals from a "hold" rating to a "sell" rating in a report on Saturday. Wolfe Research started coverage on LB Pharmaceuticals in a research report on Tuesday, July 7th. They set an "outperform" rating and a $45.00 target price for the company. Finally, Roth Capital reiterated a "buy" rating and issued a $37.00 target price on shares of LB Pharmaceuticals in a report on Sunday, May 17th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, LB Pharmaceuticals presently has a consensus rating of "Moderate Buy" and an average price target of $47.75.

LB Pharmaceuticals Trading Down 0.1%

The firm has a market cap of $1.57 billion and a PE ratio of -14.16. The business's 50-day simple moving average is $35.75 and its 200 day simple moving average is $29.78.

LB Pharmaceuticals (NASDAQ:LBRX - Get Free Report) last announced its quarterly earnings results on Tuesday, August 11th. The company reported ($1.71) earnings per share for the quarter, missing the consensus estimate of ($0.84) by ($0.87). Analysts expect that LB Pharmaceuticals Inc will post -4.67 earnings per share for the current year.

Institutional Trading of LB Pharmaceuticals

A number of hedge funds have recently bought and sold shares of the stock. Deep Track Capital LP purchased a new position in shares of LB Pharmaceuticals in the 3rd quarter valued at $52,941,000. RA Capital Management L.P. bought a new position in shares of LB Pharmaceuticals in the 3rd quarter worth $28,058,000. TCG Crossover Management LLC purchased a new stake in shares of LB Pharmaceuticals during the 3rd quarter worth $27,554,000. Spruce Street Capital LP purchased a new stake in shares of LB Pharmaceuticals during the 4th quarter worth $22,384,000. Finally, Balyasny Asset Management L.P. bought a new stake in LB Pharmaceuticals during the third quarter valued at about $15,289,000.

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. 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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