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

Key Points

• LB Pharmaceuticals shares reached a new 52-week high of $49.14 before closing at $47.23, giving the company a market capitalization of approximately $1.37 billion.
• Analyst sentiment is broadly positive, with a consensus rating of “Moderate Buy” and an average price target of $45.12, although targets range from $37 to $78.
• The clinical-stage biopharmaceutical company is developing LB-102 for schizophrenia, bipolar depression and other neuropsychiatric conditions; it recently beat quarterly EPS estimates but remains unprofitable, with analysts forecasting a full-year loss of $3.55 per share.

LB Pharmaceuticals Inc (NASDAQ:LBRX - Get Free Report) shares reached a new 52-week high during trading on Monday . The company traded as high as $49.14 and last traded at $47.23, with a volume of 269158 shares. The stock had previously closed at $48.00.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on LBRX shares. Wolfe Research initiated coverage on LB Pharmaceuticals in a research report on Tuesday, July 7th. They issued an "outperform" rating and a $45.00 target price for the company. Wall Street Zen raised LB Pharmaceuticals from a "sell" rating to a "hold" rating in a research report on Sunday, June 21st. Piper Sandler reiterated an "overweight" rating and issued a $78.00 price objective on shares of LB Pharmaceuticals in a research note on Monday, August 3rd. Roth Capital reissued a "buy" rating and issued a $37.00 price objective on shares of LB Pharmaceuticals in a report on Sunday, May 17th. Finally, Weiss Ratings raised shares of LB Pharmaceuticals from a "sell (d-)" rating to a "sell (d+)" rating in a report on Friday, July 24th. Two equities research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $45.12.

LB Pharmaceuticals Trading Down 0.6%

The company has a market cap of $1.37 billion and a price-to-earnings ratio of -27.71. The company's 50 day moving average price is $33.26 and its 200 day moving average price is $28.61.

LB Pharmaceuticals (NASDAQ:LBRX - Get Free Report) last issued its quarterly 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. Sell-side analysts predict that LB Pharmaceuticals Inc will post -3.55 earnings per share for the current year.

Hedge Funds Weigh In On LB Pharmaceuticals

A number of large investors have recently modified their holdings of the business. California State Teachers Retirement System acquired a new stake in shares of LB Pharmaceuticals in the 4th quarter valued at approximately $26,000. Bank of America Corp DE acquired a new position in LB Pharmaceuticals during the third quarter worth $27,000. Russell Investments Group Ltd. purchased a new position in LB Pharmaceuticals in the fourth quarter worth $34,000. Strs Ohio acquired a new stake in LB Pharmaceuticals in the fourth quarter valued at $76,000. Finally, Persistent Asset Partners Ltd acquired a new stake in LB Pharmaceuticals in the fourth quarter valued at $91,000.

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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