65,429 Shares in LB Pharmaceuticals Inc $LBRX Bought by Janus Henderson Group PLC

Janus Henderson Group PLC bought a new stake in LB Pharmaceuticals Inc (NASDAQ:LBRX) in the 1st quarter, Holdings Channel reports. The institutional investor bought 65,429 shares of the company’s stock, valued at approximately $1,613,000.

A number of other hedge funds have also recently made changes to their positions in the company. California State Teachers Retirement System acquired a new position in shares of LB Pharmaceuticals in the fourth quarter valued at approximately $26,000. Russell Investments Group Ltd. bought a new position in LB Pharmaceuticals in the 4th quarter valued at approximately $34,000. Bank of America Corp DE acquired a new stake in LB Pharmaceuticals during the 3rd quarter worth approximately $27,000. Strs Ohio bought a new stake in LB Pharmaceuticals during the 4th quarter worth approximately $76,000. Finally, Persistent Asset Partners Ltd acquired a new position in LB Pharmaceuticals in the 4th quarter valued at approximately $91,000.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. BMO Capital Markets assumed coverage on shares of LB Pharmaceuticals in a research note on Monday, July 20th. They set an “outperform” rating and a $46.00 price target for the company. Roth Capital reaffirmed a “buy” rating and set a $37.00 target price on shares of LB Pharmaceuticals in a research report on Sunday, May 17th. Weiss Ratings raised LB Pharmaceuticals from a “sell (d-)” rating to a “sell (d+)” rating in a report on Friday, July 24th. Piper Sandler reiterated an “overweight” rating and issued a $78.00 price target on shares of LB Pharmaceuticals in a research report on Monday, August 3rd. Finally, Wolfe Research began coverage on LB Pharmaceuticals in a research note on Tuesday, July 7th. They issued an “outperform” rating and a $45.00 price target for the company. Two investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $45.12.

LB Pharmaceuticals Stock Performance

NASDAQ:LBRX opened at $48.00 on Monday. The firm’s fifty day moving average is $33.26 and its 200-day moving average is $28.61. LB Pharmaceuticals Inc has a 52 week low of $13.36 and a 52 week high of $49.14. The firm has a market cap of $1.38 billion and a P/E ratio of -27.75.

LB Pharmaceuticals (NASDAQ:LBRX) last announced 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. As a group, sell-side analysts anticipate that LB Pharmaceuticals Inc will post -3.55 earnings per share for the current year.

LB Pharmaceuticals 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.