Longboard Pharmaceuticals (NASDAQ:LBPH – Free Report) had its price target hoisted by Evercore ISI from $44.00 to $57.00 in a report released on Thursday morning, Benzinga reports. Evercore ISI currently has an outperform rating on the stock.
Other research analysts have also recently issued research reports about the company. Cantor Fitzgerald reaffirmed an overweight rating and issued a $60.00 price target on shares of Longboard Pharmaceuticals in a report on Thursday. Robert W. Baird initiated coverage on shares of Longboard Pharmaceuticals in a research report on Wednesday, May 1st. They set an outperform rating and a $36.00 price objective on the stock. B. Riley raised their target price on Longboard Pharmaceuticals from $30.00 to $36.00 and gave the stock a buy rating in a research report on Tuesday, June 11th. HC Wainwright restated a buy rating and set a $60.00 price objective on shares of Longboard Pharmaceuticals in a research report on Tuesday, June 11th. Finally, Wedbush upped their price objective on shares of Longboard Pharmaceuticals from $32.00 to $34.00 and gave the company an outperform rating in a research note on Friday, May 3rd. Eight research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Longboard Pharmaceuticals has an average rating of Buy and a consensus price target of $44.38.
Check Out Our Latest Stock Report on LBPH
Longboard Pharmaceuticals Stock Performance
Longboard Pharmaceuticals (NASDAQ:LBPH – Get Free Report) last released its quarterly earnings results on Thursday, May 2nd. The company reported ($0.42) EPS for the quarter, topping analysts’ consensus estimates of ($0.48) by $0.06. As a group, sell-side analysts expect that Longboard Pharmaceuticals will post -1.82 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Longboard Pharmaceuticals
Several hedge funds have recently modified their holdings of LBPH. RA Capital Management L.P. bought a new stake in Longboard Pharmaceuticals in the 1st quarter valued at $71,045,000. Farallon Capital Management LLC increased its holdings in shares of Longboard Pharmaceuticals by 88.4% in the first quarter. Farallon Capital Management LLC now owns 2,940,500 shares of the company’s stock valued at $63,515,000 after purchasing an additional 1,380,000 shares in the last quarter. Polar Capital Holdings Plc bought a new position in Longboard Pharmaceuticals in the 3rd quarter worth approximately $5,560,000. Vanguard Group Inc. lifted its holdings in Longboard Pharmaceuticals by 119.3% during the 1st quarter. Vanguard Group Inc. now owns 1,724,431 shares of the company’s stock worth $37,248,000 after buying an additional 937,998 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its position in Longboard Pharmaceuticals by 36.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,217,995 shares of the company’s stock valued at $47,910,000 after buying an additional 591,013 shares during the last quarter. 63.28% of the stock is owned by institutional investors.
Longboard Pharmaceuticals Company Profile
Longboard Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, focuses on developing novel and transformative medicines for neurological diseases. The company develops bexicaserin (LP352), which has completed Phase 1b/2a clinical trial for the treatment of seizures associated with developmental and epileptic encephalopathies.
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