LB Pharmaceuticals Inc (NASDAQ:LBRX) Stock Now Rated “Moderate Buy” by Wall Street Analysts

LB Pharmaceuticals Inc (NASDAQ:LBRX) has earned an average recommendation of “Moderate Buy” from the thirteen research firms that are currently covering the company, Marketbeat.com reports. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and ten have given a buy rating to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $57.40.

A number of equities analysts recently commented on LBRX shares. Needham & Company LLC began coverage on LB Pharmaceuticals in a research note on Friday, October 2nd. They set a “buy” rating and a $68.00 price target for the company. Zacks Research cut LB Pharmaceuticals from a “hold” rating to a “strong sell” rating in a report on Monday, October 12th. Stifel Nicolaus set a $53.00 price objective on LB Pharmaceuticals in a research note on Thursday, August 13th. Raymond James Financial raised LB Pharmaceuticals to a “buy” rating in a research note on Monday, October 12th. Finally, Wall Street Zen cut LB Pharmaceuticals from a “sell” rating to a “strong sell” rating in a report on Saturday, October 3rd.

Institutional Investors Weigh In On LB Pharmaceuticals

A number of hedge funds have recently bought and sold shares of LBRX. Strs Ohio lifted its position in LB Pharmaceuticals by 50.0% during the first quarter. Strs Ohio now owns 5,100 shares of the company’s stock valued at $126,000 after purchasing an additional 1,700 shares during the last quarter. Meyer Handelman Co. bought a new stake in shares of LB Pharmaceuticals in the 1st quarter worth about $372,000. Calamos Advisors LLC bought a new stake in shares of LB Pharmaceuticals in the 1st quarter worth about $593,000. Great Lakes Advisors LLC purchased a new stake in shares of LB Pharmaceuticals during the 2nd quarter valued at about $987,000. Finally, Bank of New York Mellon Corp raised its position in shares of LB Pharmaceuticals by 12.2% during the 1st quarter. Bank of New York Mellon Corp now owns 45,457 shares of the company’s stock valued at $1,121,000 after buying an additional 4,940 shares in the last quarter.

LB Pharmaceuticals Stock Up 5.6%

LBRX opened at $38.81 on Tuesday. The firm has a 50-day simple moving average of $42.70 and a two-hundred day simple moving average of $35.46. LB Pharmaceuticals has a 52 week low of $14.32 and a 52 week high of $50.16. The company has a market capitalization of $1.25 billion and a PE ratio of -11.28.

LB Pharmaceuticals (NASDAQ:LBRX) last issued its quarterly earnings data on Tuesday, August 11th. The company reported ($1.71) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.84) by ($0.87). As a group, sell-side analysts expect that LB Pharmaceuticals will post -5.70 earnings per share for the current year.

About LB Pharmaceuticals

LB Pharmaceuticals is a clinical-stage biopharmaceutical company focused on developing treatments for central nervous system and neuropsychiatric disorders. The company’s lead product candidate is LB-102, an oral prodrug of amisulpride, an established antipsychotic medicine that is approved in certain countries outside the United States but is not currently approved in the U.S.

LB-102 is being developed for the treatment of schizophrenia, with the company seeking to evaluate its potential to address the needs of patients and healthcare providers in the U.S.