LB Pharmaceuticals Inc (LBRX) PT Raised to $53 at Stifel

Stifel analyst Paul Matteis raised the price target on LB Pharmaceuticals Inc (NASDAQ: LBRX) to $53.00 (from $40.00) while maintaining a Buy rating.

The analyst commented, "We sat down with CEO Heather Turner to discuss the ongoing ph3 study of LB-102 in schizophrenia (data 1H27) and the clinical potential of '102 in other indications. We remain bullish on the prospects of LB-102 following the Vraylar/Caplyta playbook, and we're increasing our target price to reflect additional indication expansion plans in Alzheimer's and schizophrenia negative symptoms. Taking a step back, the thesis here for LB is that their lead compound LB-102 (methylated amisulpride) can improve on the established efficacy/ safety of amisulpride with improved brain penetration. With amisulpride having never been approved in the US, we view LB-102 as a next-generation atypical antipsychotic that can be clinically/commercially positioned in a similar manner to Vraylar/Caplyta, which are blockbuster drugs in large part because of their improved safety profile and strong uptake in BPD/MDD. Ph3 schizophrenia data in 1H27 represents a key catalyst as management remains confident in study execution/timelines."

You May Also Be Interested In

• Freedom Broker Downgrades Flexsteel (FLXS) to Hold
• Freedom Capital Starts Hut 8 Mining Corp. (HUT) at Buy
• DeFi Technologies (DEFT) PT Lowered to $1 at Benchmark Following Q2 Miss