LB Pharmaceuticals Inc (NASDAQ:LBRX) Receives Consensus Recommendation of “Moderate Buy” from Analysts

LB Pharmaceuticals Inc (NASDAQ:LBRX) has been assigned a consensus recommendation of “Moderate Buy” from the ten analysts that are presently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, one has given a hold recommendation, seven have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $49.62.

A number of research analysts have recently weighed in on LBRX shares. HC Wainwright increased their target price on shares of LB Pharmaceuticals from $45.00 to $60.00 and gave the company a “buy” rating in a research report on Monday, August 24th. BMO Capital Markets upped their price objective on LB Pharmaceuticals from $46.00 to $54.00 and gave the company an “outperform” rating in a research note on Wednesday, August 12th. Weiss Ratings lowered LB Pharmaceuticals from a “sell (d+)” rating to a “sell (d)” rating in a report on Tuesday, August 11th. Needham & Company LLC began coverage on LB Pharmaceuticals in a research report on Friday. They issued a “buy” rating for the company. Finally, Wolfe Research started coverage on LB Pharmaceuticals in a research report on Tuesday, July 7th. They set an “outperform” rating and a $45.00 price target on the stock.

Hedge Funds Weigh In On LB Pharmaceuticals

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Strs Ohio lifted its stake in shares of LB Pharmaceuticals by 50.0% during the 1st quarter. Strs Ohio now owns 5,100 shares of the company’s stock valued at $126,000 after buying an additional 1,700 shares in the last quarter. Meyer Handelman Co. bought a new stake in LB Pharmaceuticals during the 1st quarter valued at $372,000. Calamos Advisors LLC purchased a new stake in shares of LB Pharmaceuticals during the first quarter worth $593,000. Great Lakes Advisors LLC bought a new position in shares of LB Pharmaceuticals in the second quarter worth $987,000. Finally, Bank of New York Mellon Corp boosted its holdings in shares of LB Pharmaceuticals by 12.2% in the first quarter. Bank of New York Mellon Corp now owns 45,457 shares of the company’s stock worth $1,121,000 after acquiring an additional 4,940 shares during the period.

LB Pharmaceuticals Stock Performance

Shares of NASDAQ:LBRX opened at $37.28 on Friday. The company has a market capitalization of $1.20 billion and a P/E ratio of -10.84. The company’s 50-day moving average is $44.12 and its 200 day moving average is $34.48. LB Pharmaceuticals has a fifty-two week low of $14.32 and a fifty-two week high of $50.16.

LB Pharmaceuticals (NASDAQ:LBRX) last posted its quarterly earnings data on Tuesday, August 11th. The company reported ($1.71) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.84) by ($0.87). As a group, research analysts predict that LB Pharmaceuticals will post -5.78 earnings per share for the current year.

LB Pharmaceuticals Company Profile

LB Pharmaceuticals is a clinical-stage biopharmaceutical company focused on developing treatments for central nervous system and neuropsychiatric disorders. The company’s lead product candidate is LB-102, an oral prodrug of amisulpride, an established antipsychotic medicine that is approved in certain countries outside the United States but is not currently approved in the U.S.

LB-102 is being developed for the treatment of schizophrenia, with the company seeking to evaluate its potential to address the needs of patients and healthcare providers in the U.S.