Analysts Set LB Pharmaceuticals Inc (NASDAQ:LBRX) PT at $34.50

Shares of LB Pharmaceuticals Inc (NASDAQ:LBRX) have earned a consensus rating of “Moderate Buy” from the six ratings firms that are presently covering the firm, MarketBeat reports. One analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, three have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $34.50.

Several analysts recently weighed in on LBRX shares. Leerink Partnrs raised shares of LB Pharmaceuticals to a “strong-buy” rating in a research note on Monday, October 6th. Zacks Research raised LB Pharmaceuticals to a “hold” rating in a report on Tuesday, October 7th. Piper Sandler started coverage on LB Pharmaceuticals in a research report on Monday, October 6th. They issued an “overweight” rating on the stock. Wall Street Zen raised LB Pharmaceuticals to a “hold” rating in a research note on Monday, September 22nd. Finally, Stifel Nicolaus lifted their price objective on LB Pharmaceuticals from $27.00 to $35.00 and gave the stock a “buy” rating in a research note on Thursday, December 11th.

LB Pharmaceuticals Price Performance

Shares of NASDAQ LBRX opened at $22.00 on Tuesday. The firm has a 50 day simple moving average of $17.63. LB Pharmaceuticals has a 1 year low of $13.36 and a 1 year high of $23.15.

LB Pharmaceuticals (NASDAQ:LBRX) last posted its earnings results on Thursday, November 6th. The company reported ($0.61) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.57) by ($0.04).

Institutional Investors Weigh In On LB Pharmaceuticals

Institutional investors have recently modified their holdings of the company. Federated Hermes Inc. acquired a new stake in shares of LB Pharmaceuticals during the third quarter worth $142,000. JPMorgan Chase & Co. acquired a new position in LB Pharmaceuticals in the third quarter valued at $16,305,000. TD Asset Management Inc bought a new stake in LB Pharmaceuticals during the third quarter valued at $581,000. Monashee Investment Management LLC acquired a new stake in LB Pharmaceuticals during the 3rd quarter worth about $632,000. Finally, Jefferies Financial Group Inc. acquired a new stake in LB Pharmaceuticals during the 3rd quarter worth about $207,000.

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.