LB Pharmaceuticals (NASDAQ:LBRX) Trading Down 6.1% - Here's What Happened

Key Points

• Shares fell 6.1% to $25.30 on Tuesday (intraday low $25.32) on ~118,780 shares traded, about 49% below its average daily volume after a prior close of $26.94.
• Analysts hold a consensus “Moderate Buy” with a $35.00 target—Stifel raised its target to $40 and Roth MKM initiated coverage at $31 (buy), while Weiss Ratings remains a sell, reflecting mixed views.
• LB Pharmaceuticals is a clinical-stage biopharma (market cap ≈ $730M, negative P/E) developing lead candidate LB-102 for schizophrenia and bipolar depression, and several large investors (RA Capital, JPMorgan, Deep Track) have recently built or increased positions.

LB Pharmaceuticals Inc (NASDAQ:LBRX - Get Free Report)'s stock price dropped 6.1% on Tuesday . The company traded as low as $25.32 and last traded at $25.3020. Approximately 118,780 shares were traded during trading, a decline of 49% from the average daily volume of 231,836 shares. The stock had previously closed at $26.94.

Analyst Upgrades and Downgrades

LBRX has been the subject of a number of recent research reports. Stifel Nicolaus upped their price target on LB Pharmaceuticals from $35.00 to $40.00 and gave the stock a "buy" rating in a research report on Friday, March 27th. Roth Mkm initiated coverage on LB Pharmaceuticals in a research report on Friday, January 9th. They set a "buy" rating and a $31.00 price target for the company. Finally, Weiss Ratings reaffirmed a "sell (e)" rating on shares of LB Pharmaceuticals in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, LB Pharmaceuticals currently has an average rating of "Moderate Buy" and a consensus target price of $35.00.

LB Pharmaceuticals Stock Performance

The company has a market cap of $730.22 million and a price-to-earnings ratio of -24.03. The firm has a fifty day moving average price of $23.95 and a 200 day moving average price of $20.14.

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, meeting the consensus estimate of ($0.45).

Institutional Investors Weigh In On LB Pharmaceuticals

Several large investors have recently made changes to their positions in LBRX. Deep Track Capital LP bought a new stake in LB Pharmaceuticals in the 3rd quarter valued at $52,941,000. RA Capital Management L.P. raised its stake in LB Pharmaceuticals by 24.3% in the 4th quarter. RA Capital Management L.P. now owns 2,208,604 shares of the company's stock valued at $49,164,000 after acquiring an additional 431,646 shares during the period. TCG Crossover Management LLC bought a new stake in LB Pharmaceuticals in the 3rd quarter valued at $27,554,000. JPMorgan Chase & Co. raised its stake in LB Pharmaceuticals by 56.1% in the 4th quarter. JPMorgan Chase & Co. now owns 1,611,482 shares of the company's stock valued at $35,872,000 after acquiring an additional 578,879 shares during the period. Finally, Commodore Capital LP bought a new stake in LB Pharmaceuticals in the 3rd quarter valued at $23,685,000.

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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