LB Pharmaceuticals (NASDAQ:LBRX) Reaches New 12-Month High – What’s Next?

LB Pharmaceuticals Inc (NASDAQ:LBRX) shares hit a new 52-week high on Wednesday . The stock traded as high as $35.39 and last traded at $33.6550, with a volume of 34627 shares. The stock had previously closed at $32.31.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. BMO Capital Markets started coverage on shares of LB Pharmaceuticals in a research report on Monday. They issued an “outperform” rating and a $46.00 target price for the company. Stifel Nicolaus boosted their price target on shares of LB Pharmaceuticals from $35.00 to $40.00 and gave the stock a “buy” rating in a research report on Friday, March 27th. Roth Capital restated a “buy” rating and set a $37.00 price objective on shares of LB Pharmaceuticals in a research note on Sunday, May 17th. Wolfe Research initiated coverage on LB Pharmaceuticals in a research report on Tuesday, July 7th. They issued an “outperform” rating and a $45.00 target price on the stock. Finally, Craig Hallum started coverage on LB Pharmaceuticals in a report on Friday, April 10th. They set a “buy” rating and a $36.00 target price on the stock. Two 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 assigned a Sell rating to the stock. According to MarketBeat.com, LB Pharmaceuticals currently has a consensus rating of “Moderate Buy” and a consensus price target of $40.43.

LB Pharmaceuticals Price Performance

The stock has a 50-day moving average price of $30.22 and a 200-day moving average price of $26.78. The company has a market capitalization of $977.60 million and a price-to-earnings ratio of -19.86.

LB Pharmaceuticals (NASDAQ:LBRX) last posted its earnings results on Tuesday, May 12th. The company reported ($0.67) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.75) by $0.08. Equities analysts forecast that LB Pharmaceuticals Inc will post -3.58 earnings per share for the current year.

Hedge Funds Weigh In On LB Pharmaceuticals

Several large investors have recently modified their holdings of LBRX. Deep Track Capital LP acquired a new stake in shares of LB Pharmaceuticals during the 3rd quarter worth about $52,941,000. RA Capital Management L.P. acquired a new position in LB Pharmaceuticals in the 3rd quarter valued at about $28,058,000. TCG Crossover Management LLC acquired a new position in LB Pharmaceuticals in the 3rd quarter valued at about $27,554,000. JPMorgan Chase & Co. bought a new position in LB Pharmaceuticals in the 3rd quarter valued at about $16,305,000. Finally, Spruce Street Capital LP acquired a new stake in LB Pharmaceuticals during the fourth quarter worth approximately $22,384,000.

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.