LB Pharmaceuticals (NASDAQ:LBRX) Sets New 52-Week High - Time to Buy?

Key Points

• LB Pharmaceuticals reached a new 52-week high, trading as high as $32.49 and last at $31.67 on ~208,549 shares, sitting above its 50- and 200-day moving averages with a market cap around $908M.
• Analysts show a consensus Moderate Buy rating with an average price target of $35.25—Stifel recently raised its target to $40—though coverage is mixed (1 Strong Buy, 4 Buy, 1 Hold, 1 Sell).
• The company is a clinical-stage biopharma developing LB‑102 for neuropsychiatric disorders; it reported last-quarter EPS of -$0.45 (in line with estimates) and sell-side forecasts roughly -3.85 EPS for the fiscal year.

LB Pharmaceuticals Inc (NASDAQ:LBRX - Get Free Report) reached a new 52-week high during trading on Tuesday . The company traded as high as $32.49 and last traded at $31.67, with a volume of 208549 shares trading hands. The stock had previously closed at $30.52.

Analysts Set New Price Targets

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

LB Pharmaceuticals Trading Up 3.8%

The stock's 50-day moving average price is $24.94 and its 200-day moving average price is $20.95. The company has a market capitalization of $907.98 million and a P/E ratio of -29.88.

LB Pharmaceuticals (NASDAQ:LBRX - Get Free Report) last posted its quarterly earnings results on Thursday, March 26th. The company reported ($0.45) earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of ($0.45). Sell-side analysts expect that LB Pharmaceuticals Inc will post -3.85 earnings per share for the current fiscal year.

Institutional Trading of LB Pharmaceuticals

A number of large investors have recently modified their holdings of LBRX. California State Teachers Retirement System acquired a new stake in shares of LB Pharmaceuticals in the 4th quarter worth about $26,000. Bank of America Corp DE acquired a new stake in shares of LB Pharmaceuticals in the 3rd quarter worth about $27,000. Russell Investments Group Ltd. acquired a new stake in shares of LB Pharmaceuticals in the 4th quarter worth about $34,000. Strs Ohio acquired a new stake in shares of LB Pharmaceuticals in the 4th quarter worth about $76,000. Finally, Persistent Asset Partners Ltd acquired a new stake in shares of LB Pharmaceuticals in the 4th quarter worth about $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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