Wedbush Comments on Longboard Pharmaceuticals, Inc.’s FY2027 Earnings (NASDAQ:LBPH)

Longboard Pharmaceuticals, Inc. (NASDAQ:LBPH) – Equities researchers at Wedbush decreased their FY2027 earnings per share (EPS) estimates for Longboard Pharmaceuticals in a research note issued to investors on Tuesday, September 17th. Wedbush analyst L. Chico now forecasts that the company will earn ($3.15) per share for the year, down from their previous forecast of ($2.63). Wedbush has a “Outperform” rating and a $44.00 price target on the stock. The consensus estimate for Longboard Pharmaceuticals’ current full-year earnings is ($2.13) per share. Wedbush also issued estimates for Longboard Pharmaceuticals’ FY2028 earnings at ($0.68) EPS.

A number of other brokerages have also recently weighed in on LBPH. HC Wainwright raised their price target on Longboard Pharmaceuticals from $60.00 to $80.00 and gave the company a “buy” rating in a research report on Wednesday. Cantor Fitzgerald reiterated an “overweight” rating and set a $90.00 price target on shares of Longboard Pharmaceuticals in a report on Monday. Robert W. Baird increased their price target on Longboard Pharmaceuticals from $36.00 to $60.00 and gave the stock an “outperform” rating in a research note on Thursday, July 11th. B. Riley increased their price objective on shares of Longboard Pharmaceuticals from $36.00 to $45.00 and gave the stock a “buy” rating in a report on Monday, August 5th. Finally, Citigroup boosted their target price on shares of Longboard Pharmaceuticals from $45.00 to $50.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Nine research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $60.11.

Longboard Pharmaceuticals Price Performance

NASDAQ LBPH opened at $29.31 on Thursday. The business has a 50 day moving average price of $34.96 and a 200 day moving average price of $25.84. The company has a market capitalization of $1.14 billion, a P/E ratio of -13.08 and a beta of 1.24. Longboard Pharmaceuticals has a 1-year low of $3.60 and a 1-year high of $40.48.

Longboard Pharmaceuticals (NASDAQ:LBPH) last announced its earnings results on Thursday, August 1st. The company reported ($0.56) EPS for the quarter, missing analysts’ consensus estimates of ($0.46) by ($0.10). During the same quarter last year, the business earned ($0.65) EPS.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. CIBC Asset Management Inc increased its stake in 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 buying an additional 67,607 shares during the period. Parkman Healthcare Partners LLC grew its position in shares of Longboard Pharmaceuticals by 20.8% during the fourth quarter. Parkman Healthcare Partners LLC now owns 429,892 shares of the company’s stock worth $2,592,000 after buying an additional 73,935 shares in the last quarter. Platinum Investment Management Ltd. acquired a new position in Longboard Pharmaceuticals during the 4th quarter worth $766,000. Jennison Associates LLC grew its stake in Longboard Pharmaceuticals by 96.0% in the first quarter. Jennison Associates LLC now owns 942,404 shares of the company’s stock worth $20,356,000 after purchasing an additional 461,576 shares in the last quarter. Finally, Swiss National Bank bought a new stake in Longboard Pharmaceuticals in the first quarter valued at about $914,000. 63.28% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Longboard Pharmaceuticals

In other news, CMO Randall Kaye sold 16,666 shares of the company’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $31.64, for a total value of $527,312.24. Following the completion of the sale, the chief marketing officer now owns 17,920 shares of the company’s stock, valued at $566,988.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders have sold 33,433 shares of company stock valued at $1,108,244 over the last three months. 4.64% of the stock is owned by company insiders.

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.