LB Pharmaceuticals (NASDAQ:LBRX) Upgraded at Leerink Partnrs

Key Points

• LB Pharmaceuticals (NASDAQ:LBRX) was upgraded to a "strong-buy" rating by Leerink Partners, with a target price of $34.00.
• The stock has a consensus rating of "Buy" with a target price of $30.50 based on various analysts’ reports.
• Director Ran Nussbaum significantly increased his stake in the company by purchasing 1,000,000 shares for $15.00 per share, totaling $15 million.

LB Pharmaceuticals (NASDAQ:LBRX - Get Free Report) was upgraded by equities researchers at Leerink Partnrs to a "strong-buy" rating in a research report issued on Monday,Zacks.com reports.

Several other research analysts also recently issued reports on the stock. Stifel Nicolaus started coverage on shares of LB Pharmaceuticals in a research report on Monday. They set a "buy" rating and a $27.00 price objective on the stock. Wall Street Zen raised LB Pharmaceuticals to a "hold" rating in a report on Monday, September 22nd. Leerink Partners assumed coverage on LB Pharmaceuticals in a research note on Monday. They set an "outperform" rating and a $34.00 price objective for the company. Finally, Piper Sandler started coverage on LB Pharmaceuticals in a report on Monday. They issued an "overweight" rating on the stock. One analyst has rated the stock with a Strong Buy rating and three have given a Buy rating to the company's stock. According to data from MarketBeat.com, LB Pharmaceuticals presently has a consensus rating of "Buy" and a consensus target price of $30.50.

LB Pharmaceuticals Price Performance

Shares of LBRX opened at $15.14 on Monday. LB Pharmaceuticals has a 12-month low of $13.36 and a 12-month high of $20.25.

Insider Buying and Selling at LB Pharmaceuticals

In related news, Director Ran Nussbaum purchased 1,000,000 shares of the stock in a transaction dated Friday, September 12th. The shares were acquired at an average cost of $15.00 per share, with a total value of $15,000,000.00. Following the purchase, the director directly owned 1,411,681 shares in the company, valued at $21,175,215. This trade represents a 242.91% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website.

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.

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