Longboard Pharmaceuticals (NASDAQ:LBPH) PT Raised to $90.00

Longboard Pharmaceuticals (NASDAQ:LBPH) had its target price increased by Cantor Fitzgerald from $60.00 to $90.00 in a research report issued on Monday, MarketBeat.com reports. The firm presently has an “overweight” rating on the stock. Cantor Fitzgerald’s price target would indicate a potential upside of 192.78% from the stock’s previous close.

A number of other brokerages have also issued reports on LBPH. B. Riley boosted their price target on shares of Longboard Pharmaceuticals from $30.00 to $36.00 and gave the stock a “buy” rating in a research note on Tuesday, June 11th. Robert W. Baird began coverage on shares of Longboard Pharmaceuticals in a research note on Wednesday, May 1st. They set an “outperform” rating and a $36.00 price target on the stock. Evercore ISI boosted their price target on shares of Longboard Pharmaceuticals from $44.00 to $57.00 and gave the stock an “outperform” rating in a research note on Thursday, June 20th. HC Wainwright reiterated a “buy” rating and set a $60.00 price target on shares of Longboard Pharmaceuticals in a research note on Tuesday, June 11th. Finally, Wedbush boosted 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. Eight analysts have rated the stock with a buy rating, According to data from MarketBeat, Longboard Pharmaceuticals presently has a consensus rating of “Buy” and an average price target of $51.63.

Longboard Pharmaceuticals Trading Down 0.6 %

Shares of LBPH opened at $30.74 on Monday. The firm has a market cap of $1.20 billion, a P/E ratio of -13.72 and a beta of 1.24. Longboard Pharmaceuticals has a 12-month low of $3.60 and a 12-month high of $33.74. The company’s 50-day moving average price is $20.47 and its 200 day moving average price is $19.74.

Longboard Pharmaceuticals (NASDAQ:LBPH) last issued its quarterly earnings data on Thursday, May 2nd. The company reported ($0.42) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.48) by $0.06. Equities research analysts forecast that Longboard Pharmaceuticals will post -1.82 earnings per share for the current year.

Hedge Funds Weigh In On Longboard Pharmaceuticals

Several hedge funds have recently added to or reduced their stakes in the stock. RA Capital Management L.P. purchased a new position in Longboard Pharmaceuticals in the first quarter valued at approximately $71,045,000. Farallon Capital Management LLC grew its position in shares of Longboard Pharmaceuticals by 88.4% during 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 during the last quarter. Price T Rowe Associates Inc. MD grew its position 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 worth $47,910,000 after acquiring an additional 591,013 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Longboard Pharmaceuticals by 119.3% during the first quarter. Vanguard Group Inc. now owns 1,724,431 shares of the company’s stock worth $37,248,000 after acquiring an additional 937,998 shares during the last quarter. Finally, Polar Capital Holdings Plc purchased a new position in shares of Longboard Pharmaceuticals during the third quarter worth approximately $5,560,000. 63.28% of the stock is currently owned by hedge funds and other institutional investors.

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.