LB Pharmaceuticals (NASDAQ:LBRX) Trading 5.6% Higher - Time to Buy?

Key Points

• Shares of LB Pharmaceuticals jumped 5.6% to $32.46 on Monday, but trading was very light at 16,143 shares—about a 94% decline from average volume.
• Analysts hold a consensus of Moderate Buy with an average price target of $37.20, and several firms have recently issued or raised buy ratings (price targets range up to $45), though one analyst still has a sell rating.
• LB Pharmaceuticals is a clinical-stage biopharma developing lead candidate LB‑102 for neuropsychiatric disorders, has a market cap of $888 million, and remains unprofitable (latest EPS -$0.45; analysts expect -3.85 EPS for the year).

Shares of LB Pharmaceuticals Inc (NASDAQ:LBRX - Get Free Report) traded up 5.6% during trading on Monday . The company traded as high as $32.51 and last traded at $32.46. 16,143 shares traded hands during trading, a decline of 94% from the average session volume of 250,562 shares. The stock had previously closed at $30.73.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Roth Mkm assumed coverage on shares of LB Pharmaceuticals in a research note on Friday, January 9th. They set a "buy" rating and a $31.00 price objective for the company. Craig Hallum assumed coverage on shares of LB Pharmaceuticals in a research note on Friday, April 10th. They set a "buy" rating and a $36.00 price objective for the company. Weiss Ratings reaffirmed a "sell (e)" rating on shares of LB Pharmaceuticals in a research note on Monday, December 29th. HC Wainwright assumed coverage on shares of LB Pharmaceuticals in a research note on Monday. They set a "buy" rating and a $45.00 price objective for the company. Finally, Stifel Nicolaus upped their price objective on shares of LB Pharmaceuticals from $35.00 to $40.00 and gave the company a "buy" rating in a research note on Friday, March 27th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, LB Pharmaceuticals presently has a consensus rating of "Moderate Buy" and an average price target of $37.20.

LB Pharmaceuticals Price Performance

The business has a fifty day moving average of $25.52 and a 200 day moving average of $21.40. The stock has a market cap of $888.08 million and a price-to-earnings ratio of -29.20.

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

Hedge Funds Weigh In On LB Pharmaceuticals

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Strs Ohio grew its holdings in LB Pharmaceuticals by 50.0% during the first quarter. Strs Ohio now owns 5,100 shares of the company's stock valued at $126,000 after purchasing an additional 1,700 shares during the last quarter. Meyer Handelman Co. acquired a new position in LB Pharmaceuticals during the first quarter valued at approximately $372,000. Invesco Ltd. acquired a new position in LB Pharmaceuticals during the fourth quarter valued at approximately $244,000. XTX Topco Ltd grew its holdings in LB Pharmaceuticals by 69.6% during the fourth quarter. XTX Topco Ltd now owns 19,121 shares of the company's stock valued at $426,000 after purchasing an additional 7,845 shares during the last quarter. Finally, Logos Global Management LP grew its holdings in LB Pharmaceuticals by 6.2% during the fourth quarter. Logos Global Management LP now owns 1,200,000 shares of the company's stock valued at $26,712,000 after purchasing an additional 70,000 shares during the last quarter.

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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