LB Pharmaceuticals (NASDAQ:LBRX) Sets New 1-Year High – Still a Buy?

LB Pharmaceuticals Inc (NASDAQ:LBRX)’s stock price reached a new 52-week high during trading on Wednesday . The stock traded as high as $27.68 and last traded at $27.5880, with a volume of 101867 shares. The stock had previously closed at $26.57.

Analyst Upgrades and Downgrades

LBRX has been the subject of a number of research reports. Roth Mkm started coverage on LB Pharmaceuticals in a research report on Friday, January 9th. They set a “buy” rating and a $31.00 price target for the company. Stifel Nicolaus increased their price target on shares of LB Pharmaceuticals from $35.00 to $40.00 and gave the stock a “buy” rating in a report on Friday, March 27th. Weiss Ratings restated a “sell (e)” rating on shares of LB Pharmaceuticals in a research note on Monday, December 29th. Finally, Craig Hallum started coverage on shares of LB Pharmaceuticals in a report on Friday, April 10th. They issued a “buy” rating and a $36.00 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $35.25.

LB Pharmaceuticals Price Performance

The business’s fifty day simple moving average is $24.40 and its two-hundred day simple moving average is $20.54. The company has a market cap of $796.74 million and a PE ratio of -26.22.

LB Pharmaceuticals (NASDAQ:LBRX) last posted its earnings results on Thursday, March 26th. The company reported ($0.45) EPS for the quarter, meeting analysts’ consensus estimates of ($0.45).

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Deep Track Capital LP acquired a new position in LB Pharmaceuticals during the third quarter worth $52,941,000. RA Capital Management L.P. purchased a new stake in shares of LB Pharmaceuticals during the third quarter worth about $28,058,000. TCG Crossover Management LLC acquired a new position in shares of LB Pharmaceuticals during the 3rd quarter worth about $27,554,000. Commodore Capital LP purchased a new position in LB Pharmaceuticals in the 3rd quarter valued at about $23,685,000. Finally, JPMorgan Chase & Co. acquired a new stake in LB Pharmaceuticals in the 3rd quarter worth about $16,305,000.

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.