Brokerages Set LB Pharmaceuticals Inc (NASDAQ:LBRX) Price Target at $35.00

LB Pharmaceuticals Inc (NASDAQ:LBRX) has earned a consensus recommendation of “Moderate Buy” from the six research firms that are covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, one has given a hold rating, three have given a buy rating and one has issued a strong buy rating on the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $35.00.

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 raised their price target on shares of LB Pharmaceuticals from $35.00 to $40.00 and gave the stock a “buy” rating in a report on Friday, March 27th. Finally, Roth Mkm started coverage on shares of LB Pharmaceuticals in a research report on Friday, January 9th. They set a “buy” rating and a $31.00 target price for the company.

LB Pharmaceuticals Stock Performance

NASDAQ LBRX opened at $25.98 on Thursday. The firm’s 50 day moving average price is $24.10 and its 200-day moving average price is $20.22. LB Pharmaceuticals has a 52-week low of $13.36 and a 52-week high of $27.55. The company has a market cap of $744.85 million and a PE ratio of -24.51.

LB Pharmaceuticals (NASDAQ:LBRX) last announced its earnings results on Thursday, March 26th. The company reported ($0.45) earnings per share for the quarter, meeting the consensus estimate of ($0.45).

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. California State Teachers Retirement System purchased a new stake in shares of LB Pharmaceuticals during the fourth quarter worth about $26,000. Bank of America Corp DE purchased a new stake in shares of LB Pharmaceuticals during the third quarter worth about $27,000. Russell Investments Group Ltd. purchased a new stake in shares of LB Pharmaceuticals during the fourth quarter worth about $34,000. Strs Ohio purchased a new stake in shares of LB Pharmaceuticals during the fourth quarter worth about $76,000. Finally, Persistent Asset Partners Ltd purchased a new stake in shares of LB Pharmaceuticals during the fourth quarter worth about $91,000.

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.