Longboard Pharmaceuticals (NASDAQ:LBPH) Price Target Raised to $45.00 at Citigroup

Longboard Pharmaceuticals (NASDAQ:LBPH) had its target price lifted by Citigroup from $40.00 to $45.00 in a research note released on Tuesday, Benzinga reports. They currently have a buy rating on the stock.

LBPH has been the topic of several other research reports. Wedbush lifted their target price on shares of Longboard Pharmaceuticals from $32.00 to $34.00 and gave the company an outperform rating in a report on Friday, May 3rd. HC Wainwright reiterated a buy rating and set a $60.00 target price on shares of Longboard Pharmaceuticals in a research report on Tuesday, June 11th. Cantor Fitzgerald raised their price target on Longboard Pharmaceuticals from $60.00 to $90.00 and gave the company an overweight rating in a report on Monday. Robert W. Baird started coverage on Longboard Pharmaceuticals in a report on Wednesday, May 1st. They set an outperform rating and a $36.00 price objective on the stock. Finally, B. Riley raised their target price on Longboard Pharmaceuticals from $30.00 to $36.00 and gave the company a buy rating in a report on Tuesday, June 11th. Eight investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has an average rating of Buy and an average price target of $51.63.

Longboard Pharmaceuticals Trading Down 0.6 %

Shares of LBPH stock opened at $30.74 on Tuesday. The company has a market capitalization of $1.20 billion, a P/E ratio of -13.72 and a beta of 1.24. The business’s 50 day moving average is $20.47 and its two-hundred day moving average is $19.74. Longboard Pharmaceuticals has a twelve month low of $3.60 and a twelve month high of $33.74.

Longboard Pharmaceuticals (NASDAQ:LBPH) last issued its quarterly earnings results on Thursday, May 2nd. The company reported ($0.42) earnings per share for the quarter, topping the consensus estimate of ($0.48) by $0.06. As a group, equities analysts predict that Longboard Pharmaceuticals will post -1.82 earnings per share for the current fiscal year.

Institutional Trading of Longboard Pharmaceuticals

Large investors have recently bought and sold shares of the company. Farallon Capital Management LLC boosted its position in shares of Longboard Pharmaceuticals by 88.4% in the 1st quarter. Farallon Capital Management LLC now owns 2,940,500 shares of the company’s stock worth $63,515,000 after buying an additional 1,380,000 shares in the last quarter. RA Capital Management L.P. purchased a new position in Longboard Pharmaceuticals during the 1st quarter valued at about $71,045,000. California State Teachers Retirement System raised its position in Longboard Pharmaceuticals by 748.2% during the first quarter. California State Teachers Retirement System now owns 21,747 shares of the company’s stock worth $470,000 after acquiring an additional 19,183 shares during the last quarter. AWM Investment Company Inc. purchased a new stake in shares of Longboard Pharmaceuticals in the first quarter valued at about $4,569,000. Finally, Price T Rowe Associates Inc. MD grew its position in shares of Longboard Pharmaceuticals by 36.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 2,217,995 shares of the company’s stock valued at $47,910,000 after purchasing an additional 591,013 shares during the last quarter. Institutional investors and hedge funds own 63.28% of the company’s stock.

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.