Longboard Pharmaceuticals, Inc. (NASDAQ:LBPH) Receives Average Recommendation of “Hold” from Brokerages

Shares of Longboard Pharmaceuticals, Inc. (NASDAQ:LBPH) have earned a consensus recommendation of “Hold” from the nine research firms that are covering the firm, Marketbeat.com reports. Five research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $59.56.

A number of equities research analysts have recently weighed in on LBPH shares. B. Riley reiterated a “neutral” rating and issued a $60.00 price objective (up from $45.00) on shares of Longboard Pharmaceuticals in a research report on Monday, October 14th. HC Wainwright reiterated a “neutral” rating and issued a $60.00 price target (down previously from $80.00) on shares of Longboard Pharmaceuticals in a report on Tuesday, October 15th. Cantor Fitzgerald restated a “neutral” rating on shares of Longboard Pharmaceuticals in a report on Monday, October 14th. Evercore ISI reaffirmed an “outperform” rating and issued a $80.00 target price on shares of Longboard Pharmaceuticals in a research report on Monday, August 26th. Finally, Wedbush cut shares of Longboard Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 14th.

Insider Activity at Longboard Pharmaceuticals

In other Longboard Pharmaceuticals news, CMO Randall Kaye sold 16,666 shares of Longboard Pharmaceuticals stock in a transaction on Monday, September 16th. The stock was sold at an average price of $31.64, for a total transaction of $527,312.24. Following the completion of the transaction, the chief marketing officer now owns 17,920 shares in the company, valued at approximately $566,988.80. The trade was a 48.19 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 4.64% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Longboard Pharmaceuticals

Several institutional investors and hedge funds have recently modified their holdings of the stock. KBC Group NV purchased a new stake in shares of Longboard Pharmaceuticals during the third quarter valued at approximately $65,000. Ameritas Investment Partners Inc. boosted its stake in Longboard Pharmaceuticals by 93.3% during the 1st quarter. Ameritas Investment Partners Inc. now owns 2,486 shares of the company’s stock valued at $54,000 after purchasing an additional 1,200 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in shares of Longboard Pharmaceuticals in the 2nd quarter worth $127,000. SG Americas Securities LLC purchased a new position in shares of Longboard Pharmaceuticals in the first quarter worth $132,000. Finally, Mesirow Financial Investment Management Inc. bought a new position in shares of Longboard Pharmaceuticals during the third quarter valued at $221,000. 63.28% of the stock is currently owned by institutional investors.

Longboard Pharmaceuticals Stock Up 0.0 %

NASDAQ:LBPH opened at $59.78 on Friday. The firm has a market capitalization of $2.33 billion, a P/E ratio of -26.81 and a beta of 1.07. The company has a fifty day moving average of $48.60 and a 200 day moving average of $35.51. Longboard Pharmaceuticals has a 52 week low of $3.60 and a 52 week high of $59.95.

Longboard Pharmaceuticals (NASDAQ:LBPH) last posted its earnings results on Thursday, November 7th. The company reported ($0.63) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.59) by ($0.04). As a group, analysts anticipate that Longboard Pharmaceuticals will post -2.22 EPS for the current year.

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.