LB Pharmaceuticals initiated with a Buy at Stifel

Stifel initiated coverage of LB Pharmaceuticals (LBRX) with a Buy rating and $27 price target The firm says its bullish thesis is based on enthusiasm for LB-102, which it thinks can become a blockbuster antipsychotic for the treatment of schizophrenia and mood disorders. It views schizophrenia as “mostly derisked” following the “strong” Phase 2 data.