Wedbush Equities Analysts Decrease Earnings Estimates for Longboard Pharmaceuticals, Inc. (NASDAQ:LBPH)

Longboard Pharmaceuticals, Inc. (NASDAQ:LBPH) – Equities research analysts at Wedbush lowered their FY2027 earnings per share estimates for shares of Longboard Pharmaceuticals in a report released on Tuesday, September 17th. Wedbush analyst L. Chico now forecasts that the company will earn ($3.15) per share for the year, down from their previous estimate of ($2.63). Wedbush has a “Outperform” rating and a $44.00 price objective on the stock. The consensus estimate for Longboard Pharmaceuticals’ current full-year earnings is ($2.13) per share. Wedbush also issued estimates for Longboard Pharmaceuticals’ FY2028 earnings at ($0.68) EPS.

Longboard Pharmaceuticals (NASDAQ:LBPH) last released its quarterly 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 quarter in the prior year, the business posted ($0.65) EPS.

A number of other analysts have also recently commented on the company. 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 research report on Thursday, July 11th. Cantor Fitzgerald reiterated an “overweight” rating and set a $90.00 price objective on shares of Longboard Pharmaceuticals in a research note on Monday. HC Wainwright raised their target price on Longboard Pharmaceuticals from $60.00 to $80.00 and gave the company a “buy” rating in a research report on Wednesday. B. Riley boosted their price target on Longboard Pharmaceuticals from $36.00 to $45.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. Finally, Truist Financial assumed coverage on shares of Longboard Pharmaceuticals in a research note on Tuesday, September 10th. They set a “buy” rating and a $60.00 target price on the stock. Nine analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $60.11.

Longboard Pharmaceuticals Stock Up 6.3 %

LBPH stock opened at $29.31 on Thursday. Longboard Pharmaceuticals has a 52-week low of $3.60 and a 52-week high of $40.48. The firm has a market cap of $1.14 billion, a P/E ratio of -13.08 and a beta of 1.24. The company’s 50-day simple moving average is $34.96 and its 200-day simple moving average is $25.84.

Insider Activity

In related news, CMO Randall Kaye sold 16,666 shares of the business’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 sale, the chief marketing officer now directly owns 17,920 shares in the company, valued at approximately $566,988.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In the last 90 days, insiders have sold 33,433 shares of company stock valued at $1,108,244. 4.64% of the stock is currently owned by company insiders.

Institutional Trading of Longboard Pharmaceuticals

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Ameritas Investment Partners Inc. grew its stake in shares of Longboard Pharmaceuticals by 93.3% in the first quarter. Ameritas Investment Partners Inc. now owns 2,486 shares of the company’s stock valued at $54,000 after buying an additional 1,200 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in Longboard Pharmaceuticals in the 2nd quarter valued at about $127,000. SG Americas Securities LLC purchased a new stake in Longboard Pharmaceuticals during the first quarter worth about $132,000. Denali Advisors LLC acquired a new stake in shares of Longboard Pharmaceuticals during the first quarter worth about $201,000. Finally, Arizona State Retirement System acquired a new stake in shares of Longboard Pharmaceuticals during the second quarter worth about $216,000. 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.