Barclays PLC Acquires 38,669 Shares of Longboard Pharmaceuticals, Inc. (NASDAQ:LBPH)

Barclays PLC boosted its holdings in shares of Longboard Pharmaceuticals, Inc. (NASDAQ:LBPH) by 167.1% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 61,806 shares of the company’s stock after acquiring an additional 38,669 shares during the quarter. Barclays PLC owned 0.16% of Longboard Pharmaceuticals worth $2,060,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the business. KBC Group NV purchased a new stake in shares of Longboard Pharmaceuticals during the third quarter valued at $65,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Longboard Pharmaceuticals by 64.2% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,744 shares of the company’s stock valued at $258,000 after buying an additional 3,028 shares in the last quarter. Squarepoint Ops LLC boosted its position in Longboard Pharmaceuticals by 30.4% in the 2nd quarter. Squarepoint Ops LLC now owns 13,972 shares of the company’s stock valued at $378,000 after buying an additional 3,260 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Longboard Pharmaceuticals by 10.0% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 55,079 shares of the company’s stock worth $1,836,000 after acquiring an additional 5,023 shares in the last quarter. Finally, Mesirow Financial Investment Management Inc. purchased a new position in shares of Longboard Pharmaceuticals during the third quarter worth approximately $221,000. Institutional investors own 63.28% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. B. Riley reiterated a “neutral” rating and issued a $60.00 price target (up previously from $45.00) on shares of Longboard Pharmaceuticals in a report on Monday, October 14th. Truist Financial reissued a “hold” rating and set a $60.00 price target on shares of Longboard Pharmaceuticals in a research report on Tuesday, October 15th. HC Wainwright restated a “neutral” rating and issued a $60.00 price objective (down from $80.00) on shares of Longboard Pharmaceuticals in a report on Tuesday, October 15th. Cantor Fitzgerald reiterated a “neutral” rating on shares of Longboard Pharmaceuticals in a report on Monday, October 14th. Finally, Wedbush lowered shares of Longboard Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a report on Monday, October 14th. Five analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Longboard Pharmaceuticals currently has a consensus rating of “Hold” and an average target price of $59.56.

Insider Activity

In related news, CMO Randall Kaye sold 16,667 shares of the company’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $59.03, for a total value of $983,853.01. Following the transaction, the chief marketing officer now directly owns 17,920 shares of the company’s stock, valued at $1,057,817.60. This represents a 48.19 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 4.64% of the company’s stock.

Longboard Pharmaceuticals Stock Up 0.0 %

Shares of Longboard Pharmaceuticals stock opened at $59.98 on Friday. The company has a market cap of $2.34 billion, a P/E ratio of -26.90 and a beta of 1.00. The firm’s 50 day moving average price is $59.81 and its 200-day moving average price is $42.51. Longboard Pharmaceuticals, Inc. has a 52-week low of $3.60 and a 52-week high of $60.03.

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

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.