LB Pharmaceuticals (NASDAQ:LBRX) Cut to Strong Sell at Wall Street Zen

by · The Markets Daily

Wall Street Zen downgraded shares of LB Pharmaceuticals (NASDAQ:LBRX – Free Report) from a sell rating to a strong sell rating in a research report report published on Saturday morning,Wall Street Zen reports.

Several other research firms have also recently weighed in on LBRX. Wolfe Research began coverage on LB Pharmaceuticals in a research report on Tuesday, July 7th. They issued an “outperform” rating and a $45.00 price objective for the company. HC Wainwright boosted their target price on shares of LB Pharmaceuticals from $45.00 to $60.00 and gave the stock a “buy” rating in a research report on Monday, August 24th. Needham & Company LLC began coverage on shares of LB Pharmaceuticals in a report on Friday. They issued a “buy” rating and a $68.00 price target for the company. Weiss Ratings lowered shares of LB Pharmaceuticals from a “sell (d+)” rating to a “sell (d)” rating in a research report on Tuesday, August 11th. Finally, Stifel Nicolaus set a $53.00 price objective on shares of LB Pharmaceuticals in a report on Thursday, August 13th. Eight analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $56.56.

Read Our Latest Report on LBRX

LB Pharmaceuticals Stock Performance

LB Pharmaceuticals stock opened at $34.62 on Friday. LB Pharmaceuticals has a 52 week low of $14.32 and a 52 week high of $50.16. The firm has a market capitalization of $1.12 billion and a PE ratio of -10.06. The business’s 50-day simple moving average is $44.15 and its 200-day simple moving average is $34.63.

LB Pharmaceuticals (NASDAQ:LBRX – Get Free Report) last announced its earnings results on Tuesday, August 11th. The company reported ($1.71) earnings per share for the quarter, missing the consensus estimate of ($0.84) by ($0.87). Research analysts forecast that LB Pharmaceuticals will post -5.78 earnings per share for the current year.

Hedge Funds Weigh In On LB Pharmaceuticals

Hedge funds have recently made changes to their positions in the business. Wellington Management Group LLP lifted its stake in LB Pharmaceuticals by 11.9% during the second quarter. Wellington Management Group LLP now owns 58,891 shares of the company’s stock worth $1,911,000 after purchasing an additional 6,251 shares during the period. Great Lakes Advisors LLC bought a new stake in shares of LB Pharmaceuticals in the 2nd quarter valued at approximately $987,000. Bank of New York Mellon Corp acquired a new position in LB Pharmaceuticals during the second quarter worth $1,784,000. Stempoint Capital LP bought a new position in shares of LB Pharmaceuticals during the first quarter valued at $1,233,000. Finally, Janus Henderson Group PLC acquired a new stake in shares of LB Pharmaceuticals in the 1st quarter valued at $1,613,000.

About LB Pharmaceuticals

(Get Free Report)

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.

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