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

Shares of LB Pharmaceuticals Inc (NASDAQ:LBRX) have been given an average recommendation of “Moderate Buy” by the eight brokerages that are presently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, one has given a hold rating, five have given a buy rating and one has issued a strong buy rating on the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $38.40.

Several research analysts have recently commented on the company. Weiss Ratings raised LB Pharmaceuticals from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday. Roth Mkm reaffirmed a “buy” rating and set a $37.00 price objective on shares of LB Pharmaceuticals in a report on Sunday, May 17th. HC Wainwright reaffirmed a “buy” rating on shares of LB Pharmaceuticals in a report on Tuesday, May 26th. Wall Street Zen downgraded LB Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Saturday. Finally, Craig Hallum began coverage on LB Pharmaceuticals in a report on Friday, April 10th. They set a “buy” rating and a $36.00 price objective on the stock.

LB Pharmaceuticals Price Performance

Shares of LBRX opened at $28.50 on Tuesday. The company has a market capitalization of $817.38 million and a P/E ratio of -16.47. LB Pharmaceuticals has a one year low of $13.36 and a one year high of $33.47. The business’s 50 day simple moving average is $29.09 and its 200-day simple moving average is $24.66.

LB Pharmaceuticals (NASDAQ:LBRX) last announced its earnings results on Tuesday, May 12th. The company reported ($0.67) EPS for the quarter, topping the consensus estimate of ($0.75) by $0.08. On average, sell-side analysts anticipate that LB Pharmaceuticals will post -3.58 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in LBRX. JPMorgan Chase & Co. acquired a new position in shares of LB Pharmaceuticals in the 3rd quarter valued at $16,305,000. TD Asset Management Inc acquired a new position in shares of LB Pharmaceuticals in the 3rd quarter valued at $581,000. Monashee Investment Management LLC acquired a new position in shares of LB Pharmaceuticals in the 3rd quarter valued at $632,000. Jefferies Financial Group Inc. acquired a new position in shares of LB Pharmaceuticals in the 3rd quarter valued at $207,000. Finally, Landscape Capital Management L.L.C. acquired a new position in shares of LB Pharmaceuticals in the 3rd quarter valued at $168,000.

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.