LB Pharmaceuticals’ (LBRX) Buy Rating Reiterated at HC Wainwright

LB Pharmaceuticals (NASDAQ:LBRX)‘s stock had its “buy” rating reaffirmed by HC Wainwright in a note issued to investors on Monday,Benzinga reports. They currently have a $45.00 price objective on the stock. HC Wainwright’s target price would indicate a potential upside of 12.28% from the stock’s previous close.

Other equities research analysts have also recently issued reports about the company. Wolfe Research assumed coverage on LB Pharmaceuticals in a report on Tuesday, July 7th. They set an “outperform” rating and a $45.00 price target for the company. Wall Street Zen upgraded LB Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Sunday, June 21st. Roth Capital restated a “buy” rating and issued a $37.00 target price on shares of LB Pharmaceuticals in a research note on Sunday, May 17th. BMO Capital Markets started coverage on LB Pharmaceuticals in a report on Monday, July 20th. They issued an “outperform” rating and a $46.00 price target for the company. Finally, Weiss Ratings upgraded shares of LB Pharmaceuticals from a “sell (d-)” rating to a “sell (d+)” rating in a research report on Friday, July 24th. Two investment analysts have rated the stock with a Strong Buy rating, six 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, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $40.43.

LB Pharmaceuticals Price Performance

NASDAQ:LBRX opened at $40.08 on Monday. The firm has a market cap of $1.15 billion and a PE ratio of -23.17. LB Pharmaceuticals has a 12 month low of $13.36 and a 12 month high of $41.33. The company’s 50-day moving average price is $31.47 and its two-hundred day moving average price is $27.70.

LB Pharmaceuticals (NASDAQ:LBRX) last posted its quarterly earnings data on Tuesday, May 12th. The company reported ($0.67) earnings per share for the quarter, topping the consensus estimate of ($0.75) by $0.08. On average, research analysts expect that LB Pharmaceuticals will post -3.58 EPS for the current fiscal year.

Hedge Funds Weigh In On LB Pharmaceuticals

Hedge funds have recently added to or reduced their stakes in the company. Deep Track Capital LP bought a new stake in LB Pharmaceuticals during the 3rd quarter worth about $52,941,000. RA Capital Management L.P. bought a new position in shares of LB Pharmaceuticals in the 3rd quarter valued at about $28,058,000. TCG Crossover Management LLC bought a new position in shares of LB Pharmaceuticals in the 3rd quarter valued at about $27,554,000. Spruce Street Capital LP acquired a new stake in shares of LB Pharmaceuticals during the 4th quarter worth approximately $22,384,000. Finally, Balyasny Asset Management L.P. bought a new stake in shares of LB Pharmaceuticals during the third quarter worth approximately $15,289,000.

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.