LB Pharmaceuticals Inc (NASDAQ:LBRX) Receives $33.33 Average Target Price from Analysts

Shares of LB Pharmaceuticals Inc (NASDAQ:LBRX) have been given an average rating of “Moderate Buy” by the six ratings firms that are presently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, one has given a hold recommendation, three have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $33.3333.

A number of research analysts have recently commented on LBRX shares. Weiss Ratings reissued a “sell (e)” rating on shares of LB Pharmaceuticals in a research report on Monday, December 29th. Stifel Nicolaus lifted their price target on LB Pharmaceuticals from $27.00 to $35.00 and gave the stock a “buy” rating in a report on Thursday, December 11th. Finally, Roth Mkm initiated coverage on LB Pharmaceuticals in a research report on Friday, January 9th. They set a “buy” rating and a $31.00 price target on the stock.

LB Pharmaceuticals Stock Down 4.1%

NASDAQ:LBRX opened at $23.34 on Wednesday. The company has a market capitalization of $590.50 million and a PE ratio of -38.26. LB Pharmaceuticals has a 1-year low of $13.36 and a 1-year high of $24.95. The firm has a fifty day moving average price of $21.57.

Institutional Investors Weigh In On LB Pharmaceuticals

Several hedge funds have recently added to or reduced their stakes in LBRX. Bank of America Corp DE bought a new position in shares of LB Pharmaceuticals in the third quarter valued at about $27,000. Strs Ohio bought a new position in LB Pharmaceuticals in the 4th quarter valued at about $76,000. Police & Firemen s Retirement System of New Jersey acquired a new stake in LB Pharmaceuticals during the fourth quarter worth approximately $98,000. Federated Hermes Inc. bought a new stake in shares of LB Pharmaceuticals during the third quarter worth approximately $142,000. Finally, SG Americas Securities LLC acquired a new position in shares of LB Pharmaceuticals in the fourth quarter valued at approximately $143,000.

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.