Longboard Pharmaceuticals, Inc. (NASDAQ:LBPH) Shares Bought by TD Asset Management Inc

TD Asset Management Inc raised its holdings in Longboard Pharmaceuticals, Inc. (NASDAQ:LBPH) by 23.7% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 174,188 shares of the company’s stock after purchasing an additional 33,400 shares during the quarter. TD Asset Management Inc’s holdings in Longboard Pharmaceuticals were worth $4,708,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. RA Capital Management L.P. acquired a new position in shares of Longboard Pharmaceuticals during the first quarter worth about $71,045,000. Farallon Capital Management LLC increased its stake 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 period. Price T Rowe Associates Inc. MD increased its stake 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 period. Vanguard Group Inc. increased its stake 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 period. Finally, Jennison Associates LLC increased its stake in shares of Longboard Pharmaceuticals by 96.0% during the first quarter. Jennison Associates LLC now owns 942,404 shares of the company’s stock worth $20,356,000 after acquiring an additional 461,576 shares during the period. 63.28% of the stock is currently owned by institutional investors and hedge funds.

Longboard Pharmaceuticals Price Performance

Shares of NASDAQ LBPH opened at $33.60 on Thursday. Longboard Pharmaceuticals, Inc. has a 12-month low of $3.60 and a 12-month high of $40.48. The company has a market capitalization of $1.31 billion, a PE ratio of -15.00 and a beta of 1.24. The firm’s 50-day moving average is $35.24 and its two-hundred day moving average is $25.56.

Longboard Pharmaceuticals (NASDAQ:LBPH) last announced its quarterly earnings results on Thursday, August 1st. The company reported ($0.56) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.46) by ($0.10). During the same quarter in the prior year, the firm earned ($0.65) EPS. On average, analysts forecast that Longboard Pharmaceuticals, Inc. will post -2.12 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on LBPH shares. B. Riley boosted their price target on shares of Longboard Pharmaceuticals from $36.00 to $45.00 and gave the stock a “buy” rating in a research note on Monday, August 5th. Truist Financial assumed coverage on shares of Longboard Pharmaceuticals in a report on Tuesday. They set a “buy” rating and a $60.00 price objective on the stock. HC Wainwright reissued a “buy” rating and set a $60.00 price objective on shares of Longboard Pharmaceuticals in a report on Thursday, August 22nd. Evercore ISI reissued an “outperform” rating and set a $80.00 price objective on shares of Longboard Pharmaceuticals in a report on Monday, August 26th. Finally, Citigroup boosted their price objective on shares of Longboard Pharmaceuticals from $45.00 to $50.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Nine analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $57.44.

Insider Activity

In other news, CMO Randall Kaye sold 16,667 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $34.73, for a total value of $578,844.91. Following the completion of the transaction, the chief marketing officer now owns 17,920 shares of the company’s stock, valued at $622,361.60. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 4.64% 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.