LB Pharmaceuticals (NASDAQ:LBRX) Posts Earnings Results, Meets Estimates

LB Pharmaceuticals (NASDAQ:LBRX) announced its quarterly earnings data on Thursday. The company reported ($0.45) EPS for the quarter, meeting the consensus estimate of ($0.45), Zacks reports.

LB Pharmaceuticals Stock Performance

NASDAQ LBRX traded up $0.19 during trading hours on Friday, reaching $24.72. The company’s stock had a trading volume of 52,274 shares, compared to its average volume of 227,490. The business’s 50-day moving average price is $23.51. LB Pharmaceuticals has a fifty-two week low of $13.36 and a fifty-two week high of $27.55. The company has a market cap of $625.26 million and a PE ratio of -40.51.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on LBRX shares. Weiss Ratings reaffirmed a “sell (e)” rating on shares of LB Pharmaceuticals in a report on Monday, December 29th. Stifel Nicolaus boosted their price target on LB Pharmaceuticals from $35.00 to $40.00 and gave the stock a “buy” rating in a research note on Friday. Finally, Roth Mkm began coverage on LB Pharmaceuticals in a research note on Friday, January 9th. They issued a “buy” rating and a $31.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, LB Pharmaceuticals has an average rating of “Moderate Buy” and a consensus target price of $35.00.

Institutional Trading of LB Pharmaceuticals

Institutional investors and hedge funds have recently modified their holdings of the business. MetLife Investment Management LLC purchased a new position in shares of LB Pharmaceuticals during the 4th quarter worth approximately $247,000. Deutsche Bank AG purchased a new stake in LB Pharmaceuticals in the 4th quarter valued at approximately $296,000. Quantessence Capital LLC purchased a new stake in LB Pharmaceuticals in the 3rd quarter valued at approximately $225,000. Brevan Howard Capital Management LP acquired a new stake in LB Pharmaceuticals during the 3rd quarter valued at $209,000. Finally, Two Sigma Investments LP purchased a new position in LB Pharmaceuticals during the third quarter worth $213,000.

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.