LB Pharmaceuticals (NASDAQ:LBRX) Trading Up 7.7% – Still a Buy?

LB Pharmaceuticals Inc (NASDAQ:LBRX) shares shot up 7.7% during trading on Thursday . The company traded as high as $20.86 and last traded at $20.86. 201,721 shares changed hands during trading, a decline of 19% from the average session volume of 249,428 shares. The stock had previously closed at $19.36.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Weiss Ratings reaffirmed a “sell (e)” rating on shares of LB Pharmaceuticals in a research note on Monday, December 29th. Leerink Partners started coverage on shares of LB Pharmaceuticals in a research report on Monday, October 6th. They set an “outperform” rating and a $34.00 target price for the company. Piper Sandler assumed coverage on shares of LB Pharmaceuticals in a research report on Monday, October 6th. They issued an “overweight” rating on the stock. Zacks Research raised shares of LB Pharmaceuticals to a “hold” rating in a research note on Tuesday, October 7th. Finally, Stifel Nicolaus upped their target price on LB Pharmaceuticals from $27.00 to $35.00 and gave the company a “buy” rating in a research note on Thursday, December 11th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $33.33.

LB Pharmaceuticals Stock Performance

The stock has a market capitalization of $505.24 million and a price-to-earnings ratio of -32.74. The firm’s 50-day moving average is $19.15.

LB Pharmaceuticals (NASDAQ:LBRX) last released its earnings results on Thursday, November 6th. The company reported ($0.61) EPS for the quarter, missing the consensus estimate of ($0.57) by ($0.04).

Hedge Funds Weigh In On LB Pharmaceuticals

Large investors have recently added to or reduced their stakes in the business. Bank of America Corp DE purchased a new stake in LB Pharmaceuticals in the 3rd quarter valued at about $27,000. Federated Hermes Inc. acquired a new stake in shares of LB Pharmaceuticals in the third quarter worth approximately $142,000. SG Americas Securities LLC purchased a new stake in LB Pharmaceuticals in the fourth quarter valued at approximately $143,000. Landscape Capital Management L.L.C. acquired a new position in LB Pharmaceuticals during the third quarter worth approximately $168,000. Finally, Jefferies Financial Group Inc. purchased a new stake in shares of LB Pharmaceuticals during the 3rd quarter valued at $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.