Longboard Pharmaceuticals (NASDAQ:LBPH) Stock Price Up 4.8%

Shares of Longboard Pharmaceuticals, Inc. (NASDAQ:LBPH) were up 4.8% on Friday . The company traded as high as $23.80 and last traded at $23.56. Approximately 509,227 shares traded hands during trading, a decline of 45% from the average daily volume of 928,970 shares. The stock had previously closed at $22.49.

Wall Street Analyst Weigh In

LBPH has been the topic of a number of recent analyst reports. Robert W. Baird started coverage on shares of Longboard Pharmaceuticals in a report on Wednesday, May 1st. They issued an “outperform” rating and a $36.00 price target on the stock. Cantor Fitzgerald reissued an “overweight” rating and issued a $60.00 price target on shares of Longboard Pharmaceuticals in a report on Thursday, June 20th. HC Wainwright reiterated a “buy” rating and issued a $60.00 price objective on shares of Longboard Pharmaceuticals in a research report on Tuesday, June 11th. Evercore ISI lifted their price objective on Longboard Pharmaceuticals from $44.00 to $57.00 and gave the company an “outperform” rating in a research note on Thursday, June 20th. Finally, B. Riley lifted their price objective on Longboard Pharmaceuticals from $30.00 to $36.00 and gave the company a “buy” rating in a research note on Tuesday, June 11th. Eight equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $44.38.

Longboard Pharmaceuticals Trading Up 20.2 %

The company has a market cap of $1.05 billion, a PE ratio of -12.07 and a beta of 1.15. The business has a fifty day moving average of $20.02 and a 200-day moving average of $19.27.

Longboard Pharmaceuticals (NASDAQ:LBPH) last announced its quarterly earnings results on Thursday, May 2nd. The company reported ($0.42) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.48) by $0.06. As a group, research analysts predict that Longboard Pharmaceuticals, Inc. will post -1.82 EPS for the current year.

Institutional Trading of Longboard Pharmaceuticals

Several large investors have recently bought and sold shares of the company. Farallon Capital Management LLC boosted its position in Longboard Pharmaceuticals by 88.4% during the 1st quarter. Farallon Capital Management LLC now owns 2,940,500 shares of the company’s stock valued at $63,515,000 after acquiring an additional 1,380,000 shares in the last quarter. RA Capital Management L.P. bought a new stake in shares of Longboard Pharmaceuticals in the 1st quarter worth approximately $71,045,000. California State Teachers Retirement System boosted its position in shares of Longboard Pharmaceuticals by 748.2% in the 1st quarter. California State Teachers Retirement System now owns 21,747 shares of the company’s stock worth $470,000 after purchasing an additional 19,183 shares in the last quarter. AWM Investment Company Inc. bought a new stake in shares of Longboard Pharmaceuticals in the 1st quarter worth approximately $4,569,000. Finally, Price T Rowe Associates Inc. MD boosted its position in shares of 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 worth $47,910,000 after purchasing an additional 591,013 shares in the last quarter. 63.28% of the stock is owned by institutional investors.

About Longboard Pharmaceuticals

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.