Analysts Set LB Pharmaceuticals Inc (NASDAQ:LBRX) PT at $38.40

Shares of LB Pharmaceuticals Inc (NASDAQ:LBRX) have been given a consensus recommendation of “Moderate Buy” by the eight research firms that are currently covering the firm, MarketBeat reports. One analyst has rated the stock with a sell rating, one has given a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. The average 12 month target price among brokers that have covered the stock in the last year is $38.40.

LBRX has been the subject of a number of analyst reports. Stifel Nicolaus increased their price target on shares of LB Pharmaceuticals from $35.00 to $40.00 and gave the company a “buy” rating in a report on Friday, March 27th. HC Wainwright reissued a “buy” rating on shares of LB Pharmaceuticals in a research report on Tuesday. Roth Mkm reissued a “buy” rating and set a $37.00 price target on shares of LB Pharmaceuticals in a research note on Sunday, May 17th. Finally, Craig Hallum began coverage on shares of LB Pharmaceuticals in a research note on Friday, April 10th. They set a “buy” rating and a $36.00 price target for the company.

Institutional Investors Weigh In On LB Pharmaceuticals

Several institutional investors and hedge funds have recently made changes to their positions in LBRX. Federated Hermes Inc. acquired a new stake in LB Pharmaceuticals during the 3rd quarter worth about $142,000. JPMorgan Chase & Co. acquired a new position in shares of LB Pharmaceuticals in the third quarter worth about $16,305,000. TD Asset Management Inc acquired a new position in shares of LB Pharmaceuticals in the third quarter worth about $581,000. Monashee Investment Management LLC acquired a new position in shares of LB Pharmaceuticals during the 3rd quarter worth about $632,000. Finally, Jefferies Financial Group Inc. acquired a new position in shares of LB Pharmaceuticals during the 3rd quarter worth about $207,000.

LB Pharmaceuticals Price Performance

NASDAQ LBRX opened at $27.53 on Friday. The stock has a market capitalization of $789.56 million and a PE ratio of -15.91. The business has a 50 day simple moving average of $28.06 and a two-hundred day simple moving average of $23.58. LB Pharmaceuticals has a 1-year low of $13.36 and a 1-year high of $33.47.

LB Pharmaceuticals (NASDAQ:LBRX) last announced its quarterly earnings results on Tuesday, May 12th. The company reported ($0.67) EPS for the quarter, beating analysts’ consensus estimates of ($0.75) by $0.08. On average, analysts anticipate that LB Pharmaceuticals will post -3.56 EPS for the current fiscal year.

About LB Pharmaceuticals

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.