LB Pharmaceuticals (NASDAQ:LBRX) Stock Rating Lowered by Roth Capital

LB Pharmaceuticals (NASDAQ:LBRX) was downgraded by analysts at Roth Capital from a “buy” rating to a “neutral” rating in a research note issued on Monday, Marketbeat reports. They presently have a $35.00 price target on the stock, down from their previous price target of $37.00. Roth Capital’s price objective indicates a potential upside of 2.16% from the stock’s previous close.

A number of other brokerages have also issued reports on LBRX. HC Wainwright boosted their price target on shares of LB Pharmaceuticals from $45.00 to $60.00 and gave the stock a “buy” rating in a research note on Monday, August 24th. Stifel Nicolaus set a $53.00 price objective on shares of LB Pharmaceuticals in a report on Thursday, August 13th. Weiss Ratings downgraded shares of LB Pharmaceuticals from a “sell (d+)” rating to a “sell (d)” rating in a research note on Tuesday, August 11th. Needham & Company LLC initiated coverage on shares of LB Pharmaceuticals in a report on Friday. They set a “buy” rating and a $68.00 target price on the stock. Finally, Piper Sandler reissued an “overweight” rating and issued a $78.00 price target on shares of LB Pharmaceuticals in a research report on Monday, August 3rd. Eight investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, LB Pharmaceuticals currently has a consensus rating of “Moderate Buy” and an average target price of $56.56.

LB Pharmaceuticals Stock Down 1.0%

LBRX opened at $34.26 on Monday. 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 $44.14 and a 200-day simple moving average of $34.70. The firm has a market cap of $1.11 billion and a P/E ratio of -9.96.

LB Pharmaceuticals (NASDAQ:LBRX) last posted its quarterly earnings data on Tuesday, August 11th. The company reported ($1.71) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.84) by ($0.87). Sell-side analysts expect that LB Pharmaceuticals will post -5.78 earnings per share for the current year.

Institutional Investors Weigh In On LB Pharmaceuticals

A number of large investors have recently modified their holdings of the company. Strs Ohio raised its holdings in shares of LB Pharmaceuticals by 50.0% in the 1st quarter. Strs Ohio now owns 5,100 shares of the company’s stock valued at $126,000 after purchasing an additional 1,700 shares in the last quarter. Meyer Handelman Co. purchased a new position in LB Pharmaceuticals in the first quarter valued at $372,000. Calamos Advisors LLC acquired a new stake in LB Pharmaceuticals in the first quarter valued at $593,000. Great Lakes Advisors LLC acquired a new stake in LB Pharmaceuticals in the second quarter valued at $987,000. Finally, Bank of New York Mellon Corp lifted its holdings in 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 worth $1,121,000 after buying an additional 4,940 shares during the last quarter.

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.