LB Pharmaceuticals (NASDAQ:LBRX) Releases Quarterly Earnings Results, Meets Estimates

LB Pharmaceuticals (NASDAQ:LBRX) released its quarterly earnings results on Thursday. The company reported ($0.45) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.45), Zacks reports.

LB Pharmaceuticals Trading Down 0.2%

LBRX stock opened at $24.16 on Friday. The company’s 50 day moving average is $23.51. The company has a market cap of $611.22 million and a price-to-earnings ratio of -39.61. LB Pharmaceuticals has a twelve month low of $13.36 and a twelve month high of $27.55.

Hedge Funds Weigh In On LB Pharmaceuticals

Several institutional investors and hedge funds have recently modified their holdings of the stock. Deep Track Capital LP purchased a new position in shares of LB Pharmaceuticals in the 3rd quarter worth about $52,941,000. RA Capital Management L.P. bought a new stake in LB Pharmaceuticals during the 3rd quarter valued at about $28,058,000. TCG Crossover Management LLC bought a new stake in LB Pharmaceuticals during the 3rd quarter valued at about $27,554,000. Balyasny Asset Management L.P. purchased a new position in LB Pharmaceuticals in the third quarter worth about $15,289,000. Finally, Vivo Capital LLC bought a new position in shares of LB Pharmaceuticals in the third quarter worth approximately $12,632,000.

Wall Street Analyst Weigh In

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

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.