LB Pharmaceuticals (NASDAQ:LBRX) Shares Down 4.5% - Should You Sell?

Key Points

• Shares fell about 4.5% in mid‑day trading to $27.81 (intraday low $27.40) on Thursday, with ~196,426 shares traded—roughly 20% below average volume; the stock had closed at $29.12 prior to the drop.
• Analysts have a consensus rating of Moderate Buy with a consensus price target of $35.25, based on one Strong Buy, four Buy, one Hold and one Sell rating.
• LB Pharmaceuticals is a clinical‑stage biotech developing LB‑102 for schizophrenia and bipolar depression; the company has a market cap of about $798M, a negative P/E, and reported EPS of ($0.45) last quarter in line with estimates.

LB Pharmaceuticals Inc (NASDAQ:LBRX - Get Free Report)'s share price dropped 4.5% during mid-day trading on Thursday . The stock traded as low as $27.40 and last traded at $27.8120. Approximately 196,426 shares traded hands during mid-day trading, a decline of 20% from the average daily volume of 246,103 shares. The stock had previously closed at $29.12.

Wall Street Analysts Forecast Growth

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

LB Pharmaceuticals Stock Down 4.4%

The stock has a market cap of $798.40 million and a P/E ratio of -26.24. The stock has a fifty day simple moving average of $24.56 and a 200-day simple moving average of $20.60.

LB Pharmaceuticals (NASDAQ:LBRX - Get Free Report) last released its quarterly earnings data on Thursday, March 26th. The company reported ($0.45) earnings per share for the quarter, meeting the consensus estimate of ($0.45).

Hedge Funds Weigh In On LB Pharmaceuticals

Several institutional investors have recently modified their holdings of LBRX. Deep Track Capital LP bought a new position in shares of LB Pharmaceuticals during the 3rd quarter valued at about $52,941,000. RA Capital Management L.P. bought a new position in shares of LB Pharmaceuticals during the 3rd quarter valued at about $28,058,000. TCG Crossover Management LLC bought a new position in shares of LB Pharmaceuticals during the 3rd quarter valued at about $27,554,000. Commodore Capital LP bought a new position in shares of LB Pharmaceuticals during the 3rd quarter valued at about $23,685,000. Finally, JPMorgan Chase & Co. bought a new position in shares of LB Pharmaceuticals during the 3rd quarter valued at about $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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