LB Pharmaceuticals (NASDAQ:LBRX) Downgraded by Roth Capital to “Neutral”

Roth Capital lowered shares of LB Pharmaceuticals (NASDAQ:LBRX) from a buy rating to a neutral rating in a research note published on Monday, MarketBeat.com reports. The brokerage currently has $35.00 price target on the stock, down from their prior price target of $37.00.

Several other brokerages also recently issued reports on LBRX. HC Wainwright raised their price objective on shares of LB Pharmaceuticals from $45.00 to $60.00 and gave the stock a “buy” rating in a research report on Monday, August 24th. Stifel Nicolaus set a $53.00 target price on LB Pharmaceuticals in a research note on Thursday, August 13th. Piper Sandler restated an “overweight” rating and issued a $78.00 price target on shares of LB Pharmaceuticals in a research note on Monday, August 3rd. Needham & Company LLC started coverage on LB Pharmaceuticals in a report on Friday. They issued a “buy” rating and a $68.00 price objective on the stock. Finally, BMO Capital Markets lifted their target price on LB Pharmaceuticals from $46.00 to $54.00 and gave the stock an “outperform” rating in a report on Wednesday, August 12th. Eight analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $56.56.

LB Pharmaceuticals Stock Performance

NASDAQ:LBRX opened at $34.62 on Monday. The stock has a 50-day simple moving average of $44.15 and a 200 day simple moving average of $34.63. LB Pharmaceuticals has a 52-week low of $14.32 and a 52-week high of $50.16. The company has a market cap of $1.12 billion and a PE ratio of -10.06.

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

Hedge Funds Weigh In On LB Pharmaceuticals

Several hedge funds and other institutional investors have recently modified their holdings of the business. Spruce Street Capital LP acquired a new stake in LB Pharmaceuticals in the fourth quarter valued at about $22,384,000. Janus Henderson Group PLC acquired a new position in LB Pharmaceuticals during the first quarter worth about $1,613,000. Stempoint Capital LP bought a new position in shares of LB Pharmaceuticals in the first quarter worth about $1,233,000. Bank of New York Mellon Corp acquired a new stake in shares of LB Pharmaceuticals in the 2nd quarter valued at approximately $1,784,000. Finally, Eversept Partners LP bought a new stake in shares of LB Pharmaceuticals during the 1st quarter valued at approximately $2,471,000.

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.