Longboard Pharmaceuticals, Inc. (NASDAQ:LBPH) Given Average Rating of “Buy” by Analysts

Shares of Longboard Pharmaceuticals, Inc. (NASDAQ:LBPH) have earned an average rating of “Buy” from the eight ratings firms that are currently covering the stock, Marketbeat reports. Eight analysts have rated the stock with a buy recommendation. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $44.38.

A number of equities research analysts recently weighed in on the stock. Evercore ISI lifted their price objective on shares of Longboard Pharmaceuticals from $44.00 to $57.00 and gave the company an “outperform” rating in a research note on Thursday, June 20th. Wedbush upped their price target on shares of Longboard Pharmaceuticals from $32.00 to $34.00 and gave the stock an “outperform” rating in a research note on Friday, May 3rd. B. Riley increased their price objective on shares of Longboard Pharmaceuticals from $30.00 to $36.00 and gave the company a “buy” rating in a report on Tuesday, June 11th. Cantor Fitzgerald reissued an “overweight” rating and set a $60.00 target price on shares of Longboard Pharmaceuticals in a report on Thursday, June 20th. Finally, Robert W. Baird began coverage on Longboard Pharmaceuticals in a research note on Wednesday, May 1st. They set an “outperform” rating and a $36.00 price target for the company.

Longboard Pharmaceuticals Trading Up 0.0 %

Shares of NASDAQ:LBPH opened at $20.82 on Tuesday. The firm’s 50 day moving average is $19.57 and its two-hundred day moving average is $18.76. The firm has a market capitalization of $809.48 million, a P/E ratio of -9.29 and a beta of 1.15. Longboard Pharmaceuticals has a 52 week low of $3.60 and a 52 week high of $28.15.

Longboard Pharmaceuticals (NASDAQ:LBPH) last posted its earnings results on Thursday, May 2nd. The company reported ($0.42) EPS for the quarter, beating the consensus estimate of ($0.48) by $0.06. Analysts predict that Longboard Pharmaceuticals will post -1.82 EPS for the current year.

Institutional Trading of Longboard Pharmaceuticals

Institutional investors and hedge funds have recently bought and sold shares of the stock. Farallon Capital Management LLC increased its position in shares of Longboard Pharmaceuticals by 88.4% in the first quarter. Farallon Capital Management LLC now owns 2,940,500 shares of the company’s stock worth $63,515,000 after acquiring an additional 1,380,000 shares in the last quarter. RA Capital Management L.P. acquired a new stake in Longboard Pharmaceuticals during the 1st quarter valued at $71,045,000. California State Teachers Retirement System lifted its holdings in shares of Longboard Pharmaceuticals by 748.2% in the first quarter. California State Teachers Retirement System now owns 21,747 shares of the company’s stock valued at $470,000 after purchasing an additional 19,183 shares in the last quarter. AWM Investment Company Inc. acquired a new stake in shares of Longboard Pharmaceuticals in the first quarter worth $4,569,000. Finally, Price T Rowe Associates Inc. MD grew its holdings in shares of Longboard Pharmaceuticals by 36.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 2,217,995 shares of the company’s stock valued at $47,910,000 after buying an additional 591,013 shares in the last quarter. Institutional investors and hedge funds 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.