LB Pharmaceuticals (NASDAQ:LBRX) Upgraded to Strong-Buy at BMO Capital Markets

BMO Capital Markets upgraded shares of LB Pharmaceuticals (NASDAQ:LBRX) to a strong-buy rating in a research note issued to investors on Monday morning,Zacks.com reports.

Other equities research analysts have also recently issued reports about the company. Weiss Ratings upgraded LB Pharmaceuticals from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday, June 11th. HC Wainwright reiterated a “buy” rating on shares of LB Pharmaceuticals in a research report on Monday, June 22nd. Wolfe Research began coverage on LB Pharmaceuticals in a report on Tuesday, July 7th. They issued an “outperform” rating and a $45.00 price objective on the stock. Stifel Nicolaus upped their target price 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. Finally, Roth Capital reiterated a “buy” rating and issued a $37.00 target price on shares of LB Pharmaceuticals in a research report on Sunday, May 17th. Two investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, LB Pharmaceuticals currently has an average rating of “Moderate Buy” and a consensus target price of $40.43.

LB Pharmaceuticals Stock Performance

LB Pharmaceuticals stock opened at $32.31 on Monday. The stock has a market capitalization of $926.55 million and a P/E ratio of -18.68. The company’s fifty day moving average price is $30.22 and its 200 day moving average price is $26.78. LB Pharmaceuticals has a 1 year low of $13.36 and a 1 year high of $35.35.

LB Pharmaceuticals (NASDAQ:LBRX) last posted its quarterly earnings data 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. Sell-side analysts predict that LB Pharmaceuticals will post -3.58 EPS for the current year.

Institutional Investors Weigh In On LB Pharmaceuticals

A number of hedge funds have recently modified their holdings of LBRX. California State Teachers Retirement System purchased a new stake in LB Pharmaceuticals in the 4th quarter valued at approximately $26,000. Bank of America Corp DE acquired a new stake in shares of LB Pharmaceuticals in the third quarter valued at approximately $27,000. Russell Investments Group Ltd. purchased a new stake in LB Pharmaceuticals in the 4th quarter valued at approximately $34,000. Strs Ohio acquired a new stake in LB Pharmaceuticals during the 4th quarter valued at $76,000. Finally, Persistent Asset Partners Ltd acquired a new stake in LB Pharmaceuticals during the 4th quarter valued at $91,000.

About LB Pharmaceuticals

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.