Longboard Pharmaceuticals, Inc. (NASDAQ:LBPH) Shares Acquired by Integral Health Asset Management LLC

Integral Health Asset Management LLC increased its holdings in shares of Longboard Pharmaceuticals, Inc. (NASDAQ:LBPH) by 12.8% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,100,000 shares of the company’s stock after purchasing an additional 125,000 shares during the period. Longboard Pharmaceuticals makes up about 2.8% of Integral Health Asset Management LLC’s holdings, making the stock its 9th biggest position. Integral Health Asset Management LLC owned 2.83% of Longboard Pharmaceuticals worth $29,733,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Ameritas Investment Partners Inc. grew its stake in Longboard Pharmaceuticals by 93.3% during the first quarter. Ameritas Investment Partners Inc. now owns 2,486 shares of the company’s stock worth $54,000 after purchasing an additional 1,200 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in Longboard Pharmaceuticals in the second quarter valued at approximately $127,000. SG Americas Securities LLC acquired a new stake in Longboard Pharmaceuticals in the first quarter valued at approximately $132,000. Denali Advisors LLC acquired a new stake in Longboard Pharmaceuticals in the first quarter valued at approximately $201,000. Finally, Arizona State Retirement System acquired a new stake in Longboard Pharmaceuticals in the second quarter valued at approximately $216,000. Institutional investors and hedge funds own 63.28% of the company’s stock.

Longboard Pharmaceuticals Trading Up 1.5 %

Shares of Longboard Pharmaceuticals stock opened at $33.89 on Monday. The business’s fifty day simple moving average is $34.80 and its 200 day simple moving average is $26.02. The firm has a market capitalization of $1.32 billion, a P/E ratio of -15.13 and a beta of 1.24. Longboard Pharmaceuticals, Inc. has a 12 month low of $3.60 and a 12 month high of $40.48.

Longboard Pharmaceuticals (NASDAQ:LBPH) last issued its quarterly earnings results on Thursday, August 1st. The company reported ($0.56) EPS for the quarter, missing analysts’ consensus estimates of ($0.46) by ($0.10). During the same period last year, the company posted ($0.65) earnings per share. Analysts predict that Longboard Pharmaceuticals, Inc. will post -2.13 EPS for the current fiscal year.

Insiders Place Their Bets

In other Longboard Pharmaceuticals news, CMO Randall Kaye sold 16,666 shares of the firm’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $31.64, for a total value of $527,312.24. Following the completion of the sale, the chief marketing officer now directly owns 17,920 shares of the company’s stock, valued at $566,988.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders sold 33,433 shares of company stock valued at $1,108,244 over the last ninety days. 4.64% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages have commented on LBPH. Truist Financial began coverage on Longboard Pharmaceuticals in a research note on Tuesday, September 10th. They issued a “buy” rating and a $60.00 price objective for the company. HC Wainwright raised their target price on Longboard Pharmaceuticals from $60.00 to $80.00 and gave the company a “buy” rating in a report on Wednesday, September 18th. Wedbush raised their target price on Longboard Pharmaceuticals from $40.00 to $44.00 and gave the company an “outperform” rating in a report on Tuesday, September 17th. Robert W. Baird raised their target price on Longboard Pharmaceuticals from $36.00 to $60.00 and gave the company an “outperform” rating in a report on Thursday, July 11th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $90.00 target price on shares of Longboard Pharmaceuticals in a report on Monday, September 16th. Nine investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $60.11.

Longboard Pharmaceuticals 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.