Longboard Pharmaceuticals (NASDAQ:LBPH) PT Raised to $80.00 at Evercore ISI

Longboard Pharmaceuticals (NASDAQ:LBPH) had its price target increased by stock analysts at Evercore ISI from $57.00 to $80.00 in a research note issued on Tuesday, Benzinga reports. The firm presently has an “outperform” rating on the stock. Evercore ISI’s price objective suggests a potential upside of 150.71% from the company’s current price.

A number of other analysts have also weighed in on LBPH. HC Wainwright reiterated a “buy” rating and issued a $60.00 price objective on shares of Longboard Pharmaceuticals 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 target price on the stock. B. Riley raised their target price on Longboard Pharmaceuticals from $30.00 to $36.00 and gave the company a “buy” rating in a research report on Tuesday, June 11th. Wedbush upped their price target on Longboard Pharmaceuticals from $32.00 to $34.00 and gave the stock an “outperform” rating in a report on Friday, May 3rd. Finally, Cantor Fitzgerald lifted their price target on shares of Longboard Pharmaceuticals from $60.00 to $90.00 and gave the company an “overweight” rating in a research note on Monday. Eight equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $51.63.

Longboard Pharmaceuticals Price Performance

NASDAQ LBPH opened at $31.91 on Tuesday. The company has a market cap of $1.24 billion, a price-to-earnings ratio of -14.25 and a beta of 1.24. The stock’s fifty day moving average price is $20.72 and its 200 day moving average price is $19.83. Longboard Pharmaceuticals has a 1 year low of $3.60 and a 1 year high of $33.74.

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

Institutional Investors Weigh In On Longboard Pharmaceuticals

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Polar Capital Holdings Plc purchased a new position in shares of Longboard Pharmaceuticals in the third quarter worth about $5,560,000. Jennison Associates LLC acquired a new position in shares of Longboard Pharmaceuticals during the 4th quarter worth approximately $2,899,000. CIBC Asset Management Inc boosted its holdings in shares of Longboard Pharmaceuticals by 46.8% during the 4th quarter. CIBC Asset Management Inc now owns 212,178 shares of the company’s stock worth $1,279,000 after purchasing an additional 67,607 shares during the last quarter. Platinum Investment Management Ltd. purchased a new stake in shares of Longboard Pharmaceuticals in the fourth quarter valued at approximately $766,000. Finally, Parkman Healthcare Partners LLC increased its holdings in shares of Longboard Pharmaceuticals by 20.8% in the fourth quarter. Parkman Healthcare Partners LLC now owns 429,892 shares of the company’s stock valued at $2,592,000 after purchasing an additional 73,935 shares during the last quarter. Institutional investors and hedge funds 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.