LB Pharmaceuticals (NASDAQ:LBRX) Stock Price Down 4.3% - Here's What Happened

Key Points

• LB Pharmaceuticals shares fell 4.3% to about $47.33 during Thursday trading, with volume down 65% from the average session.
• Analyst sentiment remains generally positive, with a “Moderate Buy” consensus and an average price target of $49.62, despite recent rating cuts and targets ranging from $53 to $78.
• The clinical-stage biopharmaceutical company reported a quarterly loss of $1.71 per share, missing the $0.84 consensus estimate; analysts expect a full-year loss of $5.16 per share.

LB Pharmaceuticals Inc (NASDAQ:LBRX - Get Free Report) shares were down 4.3% during trading on Thursday . The stock traded as low as $47.22 and last traded at $47.3330. Approximately 93,780 shares were traded during mid-day trading, a decline of 65% from the average session volume of 267,904 shares. The stock had previously closed at $49.48.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on LBRX shares. Wall Street Zen lowered shares of LB Pharmaceuticals from a "hold" rating to a "sell" rating in a report on Saturday, August 15th. Stifel Nicolaus set a $53.00 price target on shares of LB Pharmaceuticals in a research report on Thursday, August 13th. Piper Sandler reaffirmed an "overweight" rating and set a $78.00 price target on shares of LB Pharmaceuticals in a research note on Monday, August 3rd. HC Wainwright lifted their price target on shares of LB Pharmaceuticals from $45.00 to $60.00 and gave the company a "buy" rating in a report on Monday, August 24th. Finally, Weiss Ratings cut shares of LB Pharmaceuticals from a "sell (d+)" rating to a "sell (d)" rating in a research note on Tuesday, August 11th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $49.62.

LB Pharmaceuticals Stock Down 4.8%

The company has a market cap of $1.52 billion and a price-to-earnings ratio of -13.70. The stock has a 50 day simple moving average of $39.86 and a 200 day simple moving average of $31.72.

LB Pharmaceuticals (NASDAQ:LBRX - Get Free Report) last issued its quarterly earnings data on Tuesday, August 11th. The company reported ($1.71) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.84) by ($0.87). As a group, equities research analysts expect that LB Pharmaceuticals Inc will post -5.16 EPS for the current fiscal year.

Institutional Trading of LB Pharmaceuticals

Several institutional investors have recently added to or reduced their stakes in LBRX. Spruce Street Capital LP acquired a new position in LB Pharmaceuticals during the 4th quarter worth $22,384,000. Stempoint Capital LP acquired a new stake in shares of LB Pharmaceuticals in the 1st quarter valued at about $1,233,000. Eversept Partners LP bought a new position in shares of LB Pharmaceuticals during the first quarter worth about $2,471,000. Janus Henderson Group PLC bought a new position in shares of LB Pharmaceuticals during the first quarter worth about $1,613,000. Finally, Great Lakes Advisors LLC acquired a new position in LB Pharmaceuticals in the second quarter worth about $987,000.

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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