LB Pharmaceuticals (NASDAQ:LBRX) Stock Price Down 4.6% - Should You Sell?

Key Points

• Shares fell 4.6% intraday to about $25.26 on Tuesday on thin trading — ~30,108 shares changed hands versus an average daily volume of 216,605 (down ~86%).
• Analyst sentiment is mixed but leaning positive: Stifel raised its price target to $35 (buy) and Roth MKM initiated coverage with a buy at $31, while Weiss Ratings reaffirmed a sell; the consensus is a "Moderate Buy" with an average target of $33.33.
• Company profile: LB Pharmaceuticals is a clinical-stage biopharma developing LB-102 for neuropsychiatric disorders, with a market cap of about $630.2 million and a negative PE of -40.73.

LB Pharmaceuticals Inc (NASDAQ:LBRX - Get Free Report) shares dropped 4.6% during mid-day trading on Tuesday . The company traded as low as $24.89 and last traded at $25.2560. Approximately 30,108 shares traded hands during trading, a decline of 86% from the average daily volume of 216,605 shares. The stock had previously closed at $26.46.

Analysts Set New Price Targets

A number of brokerages have recently commented on LBRX. Stifel Nicolaus upped their price target on LB Pharmaceuticals from $27.00 to $35.00 and gave the company a "buy" rating in a research note on Thursday, December 11th. Weiss Ratings reaffirmed a "sell (e)" rating on shares of LB Pharmaceuticals in a research note on Monday, December 29th. Finally, Roth Mkm began coverage on shares of LB Pharmaceuticals in a research report on Friday, January 9th. They set a "buy" rating and a $31.00 price target on the stock. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $33.33.

LB Pharmaceuticals Price Performance

The stock has a fifty day moving average of $22.92. The company has a market cap of $630.22 million and a PE ratio of -40.73.

Institutional Investors Weigh In On LB Pharmaceuticals

Several institutional investors have recently added to or reduced their stakes in the stock. California State Teachers Retirement System bought a new position in LB Pharmaceuticals during the 4th quarter worth about $26,000. Jane Street Group LLC lifted its holdings in shares of LB Pharmaceuticals by 4.6% in the fourth quarter. Jane Street Group LLC now owns 31,733 shares of the company's stock valued at $706,000 after purchasing an additional 1,388 shares in the last quarter. Russell Investments Group Ltd. acquired a new position in shares of LB Pharmaceuticals during the fourth quarter worth about $34,000. Bank of America Corp DE acquired a new position in shares of LB Pharmaceuticals during the third quarter worth about $27,000. Finally, Strs Ohio bought a new position in shares of LB Pharmaceuticals during the fourth quarter worth about $76,000.

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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