Longboard Pharmaceuticals’ (LBPH) “Overweight” Rating Reaffirmed at Cantor Fitzgerald

Cantor Fitzgerald reiterated their overweight rating on shares of Longboard Pharmaceuticals (NASDAQ:LBPH) in a report issued on Monday, Benzinga reports. The brokerage currently has a $90.00 price target on the stock.

Several other equities research analysts have also issued reports on LBPH. HC Wainwright reaffirmed a buy rating and issued a $60.00 price objective on shares of Longboard Pharmaceuticals in a research note on Thursday, August 22nd. Citigroup raised their price objective on Longboard Pharmaceuticals from $45.00 to $50.00 and gave the company a buy rating in a research note on Friday, August 2nd. Robert W. Baird boosted their price objective on Longboard Pharmaceuticals from $36.00 to $60.00 and gave the company an outperform rating in a report on Thursday, July 11th. Truist Financial assumed coverage on Longboard Pharmaceuticals in a report on Tuesday, September 10th. They set a buy rating and a $60.00 price objective for the company. Finally, Evercore ISI restated an outperform rating and set a $80.00 price objective on shares of Longboard Pharmaceuticals in a report on Monday, August 26th. Nine research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has an average rating of Buy and a consensus target price of $57.44.

Longboard Pharmaceuticals Price Performance

NASDAQ:LBPH opened at $30.74 on Monday. The firm has a market capitalization of $1.20 billion, a price-to-earnings ratio of -13.72 and a beta of 1.24. Longboard Pharmaceuticals has a 1 year low of $3.60 and a 1 year high of $40.48. The business has a 50 day simple moving average of $35.24 and a 200-day simple moving average of $25.78.

Longboard Pharmaceuticals (NASDAQ:LBPH) last posted its quarterly earnings data on Thursday, August 1st. The company reported ($0.56) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.46) by ($0.10). During the same quarter last year, the company earned ($0.65) earnings per share. As a group, analysts expect that Longboard Pharmaceuticals will post -2.13 earnings per share for the current fiscal year.

Insider Buying and Selling at Longboard Pharmaceuticals

In other Longboard Pharmaceuticals news, CMO Randall Kaye sold 16,667 shares of Longboard Pharmaceuticals stock in a transaction on Monday, August 12th. The stock was sold at an average price of $34.73, for a total transaction of $578,844.91. Following the completion of the sale, the chief marketing officer now directly owns 17,920 shares of the company’s stock, valued at approximately $622,361.60. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders sold a total of 33,433 shares of company stock valued at $1,108,244 in the last ninety days. Corporate insiders own 4.64% of the company’s stock.

Institutional Investors Weigh In On Longboard Pharmaceuticals

A number of institutional investors and hedge funds have recently bought and sold shares of LBPH. Ameritas Investment Partners Inc. raised its position 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 in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in shares of Longboard Pharmaceuticals in the 2nd quarter worth $127,000. SG Americas Securities LLC bought a new position in shares of Longboard Pharmaceuticals in the 1st quarter worth $132,000. Denali Advisors LLC bought a new position in shares of Longboard Pharmaceuticals in the 1st quarter worth $201,000. Finally, Arizona State Retirement System bought a new position in shares of Longboard Pharmaceuticals in the 2nd quarter worth $216,000. 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.