Longboard Pharmaceuticals (NASDAQ:LBPH – Free Report) had its price target increased by Citigroup from $40.00 to $45.00 in a report issued on Tuesday, Benzinga reports. The firm currently has a buy rating on the stock.
A number of other brokerages have also recently issued reports on LBPH. Evercore ISI upped their target price on Longboard Pharmaceuticals from $57.00 to $80.00 and gave the stock an outperform rating in a research report on Tuesday. Robert W. Baird initiated coverage on shares of Longboard Pharmaceuticals in a report on Wednesday, May 1st. They set an outperform rating and a $36.00 price objective for the company. Wedbush lifted their target price on shares of Longboard Pharmaceuticals from $32.00 to $34.00 and gave the stock an outperform rating in a report on Friday, May 3rd. Cantor Fitzgerald upped their price target on shares of Longboard Pharmaceuticals from $60.00 to $90.00 and gave the company an overweight rating in a report on Monday. Finally, B. Riley raised their price target on Longboard Pharmaceuticals from $30.00 to $36.00 and gave the company a buy rating in a research report on Tuesday, June 11th. Eight investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Longboard Pharmaceuticals has a consensus rating of Buy and a consensus price target of $51.63.
Read Our Latest Stock Analysis on Longboard Pharmaceuticals
Longboard Pharmaceuticals Trading Down 0.6 %
Longboard Pharmaceuticals (NASDAQ:LBPH – Get Free Report) last announced its quarterly earnings results on Thursday, May 2nd. The company reported ($0.42) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.48) by $0.06. On average, sell-side analysts forecast that Longboard Pharmaceuticals will post -1.82 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently made changes to their positions in LBPH. Polar Capital Holdings Plc acquired a new stake in Longboard Pharmaceuticals during the third quarter worth about $5,560,000. Jennison Associates LLC acquired a new stake in shares of Longboard Pharmaceuticals during the 4th quarter worth approximately $2,899,000. CIBC Asset Management Inc increased its position in shares of Longboard Pharmaceuticals by 46.8% during the fourth quarter. CIBC Asset Management Inc now owns 212,178 shares of the company’s stock valued at $1,279,000 after purchasing an additional 67,607 shares during the period. Platinum Investment Management Ltd. acquired a new position in shares of Longboard Pharmaceuticals in the fourth quarter valued at $766,000. Finally, Parkman Healthcare Partners LLC lifted its position in Longboard Pharmaceuticals by 20.8% in the fourth quarter. Parkman Healthcare Partners LLC now owns 429,892 shares of the company’s stock worth $2,592,000 after purchasing an additional 73,935 shares during the period. Institutional investors own 63.28% of the company’s stock.
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.
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