LB Pharmaceuticals (NASDAQ:LBRX) Rating Lowered to “Strong Sell” at Wall Street Zen

LB Pharmaceuticals (NASDAQ:LBRX) was downgraded by research analysts at Wall Street Zen from a “sell” rating to a “strong sell” rating in a research note issued to investors on Sunday, Wall Street Zen reports.

Other equities analysts have also recently issued reports about the company. Raymond James Financial upgraded LB Pharmaceuticals to a “buy” rating in a report on Monday, October 12th. Weiss Ratings lowered shares of LB Pharmaceuticals from a “sell (d+)” rating to a “sell (d)” rating in a research note on Tuesday, August 11th. BMO Capital Markets boosted their price target on shares of LB Pharmaceuticals from $46.00 to $54.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 12th. Needham & Company LLC assumed coverage on shares of LB Pharmaceuticals in a research report on Friday, October 2nd. They set a “buy” rating and a $68.00 price target on the stock. Finally, Stifel Nicolaus set a $53.00 price objective on shares of LB Pharmaceuticals in a research note on Thursday, August 13th. Ten research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $57.40.

LB Pharmaceuticals Stock Up 7.4%

LBRX opened at $45.12 on Friday. LB Pharmaceuticals has a 52 week low of $14.32 and a 52 week high of $50.16. The business has a fifty day simple moving average of $40.52 and a 200-day simple moving average of $33.06. The firm has a market cap of $1.46 billion, a P/E ratio of -9.77 and a beta of 0.82.

LB Pharmaceuticals (NASDAQ:LBRX) last issued its quarterly earnings data on Thursday, November 5th. The company reported ($1.79) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.61) by ($0.18). Sell-side analysts expect that LB Pharmaceuticals will post -5.70 earnings per share for the current year.

Hedge Funds Weigh In On LB Pharmaceuticals

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Strs Ohio lifted its position in LB Pharmaceuticals by 50.0% during the 1st quarter. Strs Ohio now owns 5,100 shares of the company’s stock worth $126,000 after acquiring an additional 1,700 shares during the period. Calamos Advisors LLC acquired a new position in shares of LB Pharmaceuticals in the first quarter valued at approximately $593,000. Profund Advisors LLC purchased a new stake in shares of LB Pharmaceuticals during the third quarter worth approximately $1,082,000. Sigma Planning Corp purchased a new stake in shares of LB Pharmaceuticals during the third quarter worth approximately $1,151,000. Finally, Great Lakes Advisors LLC acquired a new stake in shares of LB Pharmaceuticals during the second quarter worth $987,000.

About LB Pharmaceuticals

LB Pharmaceuticals is a clinical-stage biopharmaceutical company developing treatments for serious neuropsychiatric disorders. Its research focuses on medicines intended to address conditions with significant unmet treatment needs.

The company’s lead candidate, LB-102, is an oral investigational drug being studied for schizophrenia. LB Pharmaceuticals has also identified other psychiatric conditions, including bipolar disorder, as potential areas of development.

LB-102 has not been approved for commercial use, and its safety and effectiveness have not been established by regulators.