TD Asset Management Inc Invests $581,000 in LB Pharmaceuticals Inc $LBRX

TD Asset Management Inc purchased a new position in LB Pharmaceuticals Inc (NASDAQ:LBRX) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 36,780 shares of the company’s stock, valued at approximately $581,000. TD Asset Management Inc owned approximately 0.15% of LB Pharmaceuticals as of its most recent filing with the Securities & Exchange Commission.

Separately, JPMorgan Chase & Co. acquired a new stake in LB Pharmaceuticals during the 3rd quarter valued at approximately $16,305,000.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on LBRX shares. Roth Mkm assumed coverage on LB Pharmaceuticals in a research report on Friday, January 9th. They issued a “buy” rating and a $31.00 target price on the stock. Weiss Ratings restated a “sell (e)” rating on shares of LB Pharmaceuticals in a research note on Monday, December 29th. Finally, Stifel Nicolaus upped their price target on shares of LB Pharmaceuticals from $27.00 to $35.00 and gave the company a “buy” rating in a report on Thursday, December 11th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $33.33.

LB Pharmaceuticals Stock Up 1.0%

Shares of LBRX stock opened at $23.78 on Friday. The company has a market capitalization of $601.63 million and a PE ratio of -38.98. LB Pharmaceuticals Inc has a one year low of $13.36 and a one year high of $25.60. The stock’s 50-day moving average is $22.49.

LB Pharmaceuticals 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.