LB Pharmaceuticals (NASDAQ:LBRX) Reaches New 52-Week High – Time to Buy?

LB Pharmaceuticals Inc (NASDAQ:LBRX) reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $34.00 and last traded at $33.5270, with a volume of 97254 shares. The stock had previously closed at $31.89.

Wall Street Analyst Weigh In

Several research firms recently weighed in on LBRX. Roth Mkm restated a “buy” rating and issued a $37.00 price objective on shares of LB Pharmaceuticals in a research report on Sunday, May 17th. Wall Street Zen upgraded shares of LB Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Sunday, June 21st. Craig Hallum began coverage on LB Pharmaceuticals in a research note on Friday, April 10th. They set a “buy” rating and a $36.00 price target for the company. Stifel Nicolaus upped their price objective on shares of LB Pharmaceuticals from $35.00 to $40.00 and gave the company a “buy” rating in a research note on Friday, March 27th. Finally, Weiss Ratings raised shares of LB Pharmaceuticals from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday, June 11th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $38.40.

LB Pharmaceuticals Trading Up 4.0%

The stock has a market cap of $951.03 million and a PE ratio of -19.17. The business has a fifty day simple moving average of $29.94 and a two-hundred day simple moving average of $25.64.

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

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of LBRX. Deep Track Capital LP purchased a new stake in shares of LB Pharmaceuticals in the third quarter worth $52,941,000. RA Capital Management L.P. grew its stake in shares of LB Pharmaceuticals by 24.3% during the 4th quarter. RA Capital Management L.P. now owns 2,208,604 shares of the company’s stock valued at $49,164,000 after purchasing an additional 431,646 shares during the period. TCG Crossover Management LLC bought a new position in shares of LB Pharmaceuticals in the 3rd quarter worth approximately $27,554,000. JPMorgan Chase & Co. grew its position in LB Pharmaceuticals by 56.1% during the fourth quarter. JPMorgan Chase & Co. now owns 1,611,482 shares of the company’s stock valued at $35,872,000 after buying an additional 578,879 shares during the period. Finally, Commodore Capital LP purchased a new position in shares of LB Pharmaceuticals during the 3rd quarter worth $23,685,000.

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.