Boxer Capital Management LLC Takes Position in LB Pharmaceuticals Inc $LBRX

Boxer Capital Management LLC bought a new position in LB Pharmaceuticals Inc (NASDAQ:LBRX) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 70,000 shares of the company’s stock, valued at approximately $1,105,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Bank of America Corp DE bought a new stake in shares of LB Pharmaceuticals during the third quarter valued at about $27,000. Federated Hermes Inc. acquired a new stake in LB Pharmaceuticals during the third quarter valued at approximately $142,000. Landscape Capital Management L.L.C. bought a new stake in shares of LB Pharmaceuticals during the 3rd quarter worth $168,000. Jefferies Financial Group Inc. purchased a new position in LB Pharmaceuticals in the 3rd quarter worth about $207,000. Finally, Brevan Howard Capital Management LP purchased a new position in shares of LB Pharmaceuticals in the third quarter worth approximately $209,000.

Wall Street Analyst Weigh In

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

LB Pharmaceuticals Price Performance

Shares of LB Pharmaceuticals stock opened at $25.67 on Friday. The company has a market cap of $649.43 million and a price-to-earnings ratio of -42.08. LB Pharmaceuticals Inc has a 52-week low of $13.36 and a 52-week high of $26.65. The firm has a fifty day simple moving average of $22.80.

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.