LB Pharmaceuticals (NASDAQ:LBRX) Stock Price Expected to Rise, Stifel Nicolaus Analyst Says

Key Points

• Stifel Nicolaus raised its price target on LB Pharmaceuticals from $35 to $40 and kept a "buy" rating, implying about a 61.55% upside from the prior close.
• Analyst opinions are mixed but skew positive: MarketBeat shows an average rating of "Moderate Buy" with a consensus price target of $35 (1 Strong Buy, 3 Buy, 1 Hold, 1 Sell).
• The stock trades near $24.76 with a market cap of roughly $626M and reported quarterly EPS of ($0.45); the company is a clinical-stage biotech progressing lead candidate LB-102 for neuropsychiatric disorders.

LB Pharmaceuticals (NASDAQ:LBRX - Get Free Report) had its price target increased by equities researchers at Stifel Nicolaus from $35.00 to $40.00 in a research report issued on Friday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. Stifel Nicolaus' price target suggests a potential upside of 61.55% from the stock's previous close.

Several other research analysts also recently commented on the stock. Weiss Ratings reaffirmed a "sell (e)" rating on shares of LB Pharmaceuticals in a report on Monday, December 29th. Roth Mkm initiated coverage on LB Pharmaceuticals in a research report on Friday, January 9th. They set a "buy" rating and a $31.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $35.00.

LB Pharmaceuticals Stock Up 2.3%

Shares of LB Pharmaceuticals stock opened at $24.76 on Friday. The company has a market cap of $626.40 million and a PE ratio of -40.59. LB Pharmaceuticals has a 52-week low of $13.36 and a 52-week high of $27.55. The firm has a 50-day moving average price of $23.51.

LB Pharmaceuticals (NASDAQ:LBRX - Get Free Report) last issued its earnings results on Thursday, March 26th. The company reported ($0.45) earnings per share for the quarter, hitting analysts' consensus estimates of ($0.45).

Institutional Investors Weigh In On LB Pharmaceuticals

A number of institutional investors and hedge funds have recently modified their holdings of the company. California State Teachers Retirement System bought a new position in shares of LB Pharmaceuticals in the fourth quarter valued at approximately $26,000. Bank of America Corp DE bought a new stake in LB Pharmaceuticals during the 3rd quarter worth approximately $27,000. Russell Investments Group Ltd. purchased a new stake in LB Pharmaceuticals in the 4th quarter worth approximately $34,000. Strs Ohio bought a new position in LB Pharmaceuticals in the 4th quarter valued at $76,000. Finally, Persistent Asset Partners Ltd bought a new position in LB Pharmaceuticals in the 4th quarter valued at $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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