Longboard Pharmaceuticals, Inc. (NASDAQ:LBPH) Receives Consensus Recommendation of “Buy” from Analysts

Longboard Pharmaceuticals, Inc. (NASDAQ:LBPH) has been given a consensus rating of “Buy” by the nine research firms that are presently covering the company, MarketBeat reports. Nine research analysts have rated the stock with a buy recommendation. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $60.11.

LBPH has been the topic of several research reports. HC Wainwright increased their price objective on shares of Longboard Pharmaceuticals from $60.00 to $80.00 and gave the stock a “buy” rating in a research note on Wednesday, September 18th. B. Riley upped their price objective on Longboard Pharmaceuticals from $36.00 to $45.00 and gave the stock a “buy” rating in a research note on Monday, August 5th. Wedbush raised their target price on Longboard Pharmaceuticals from $40.00 to $44.00 and gave the company an “outperform” rating in a research note on Tuesday, September 17th. Citigroup upped their price target on shares of Longboard Pharmaceuticals from $45.00 to $50.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Finally, Robert W. Baird raised their price target on shares of Longboard Pharmaceuticals from $36.00 to $60.00 and gave the company an “outperform” rating in a research note on Thursday, July 11th.

Longboard Pharmaceuticals Price Performance

Shares of LBPH stock opened at $36.42 on Thursday. Longboard Pharmaceuticals has a 1-year low of $3.60 and a 1-year high of $43.15. The firm has a fifty day moving average of $34.29 and a two-hundred day moving average of $26.79. The firm has a market cap of $1.42 billion, a P/E ratio of -16.26 and a beta of 1.24.

Longboard Pharmaceuticals (NASDAQ:LBPH) last issued its earnings results on Thursday, August 1st. The company reported ($0.56) EPS for the quarter, missing the consensus estimate of ($0.46) by ($0.10). During the same period in the prior year, the business posted ($0.65) earnings per share. On average, sell-side analysts expect that Longboard Pharmaceuticals will post -2.19 EPS for the current year.

Insider Activity at Longboard Pharmaceuticals

In other Longboard Pharmaceuticals news, CMO Randall Kaye sold 16,666 shares of the firm’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $31.64, for a total value of $527,312.24. Following the completion of the transaction, the chief marketing officer now directly owns 17,920 shares in the company, valued at $566,988.80. The sale was disclosed in a filing with the SEC, which is accessible through this link. 4.64% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Longboard Pharmaceuticals

Institutional investors and hedge funds have recently bought and sold shares of the business. CIBC Asset Management Inc grew its stake in Longboard Pharmaceuticals by 46.8% in the fourth quarter. CIBC Asset Management Inc now owns 212,178 shares of the company’s stock valued at $1,279,000 after purchasing an additional 67,607 shares in the last quarter. Platinum Investment Management Ltd. bought a new position in shares of Longboard Pharmaceuticals during the 4th quarter valued at $766,000. Parkman Healthcare Partners LLC raised its holdings in shares of Longboard Pharmaceuticals by 20.8% during the 4th quarter. Parkman Healthcare Partners LLC now owns 429,892 shares of the company’s stock valued at $2,592,000 after purchasing an additional 73,935 shares in the last quarter. Denali Advisors LLC bought a new stake in Longboard Pharmaceuticals in the first quarter worth $201,000. Finally, Jennison Associates LLC raised its holdings in Longboard Pharmaceuticals by 96.0% during the first quarter. Jennison Associates LLC now owns 942,404 shares of the company’s stock valued at $20,356,000 after buying an additional 461,576 shares in the last quarter. Hedge funds and other institutional investors 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.