Longboard Pharmaceuticals, Inc. Expected to Earn Q3 2024 Earnings of ($0.61) Per Share (NASDAQ:LBPH)

Longboard Pharmaceuticals, Inc. (NASDAQ:LBPH) – Stock analysts at HC Wainwright lowered their Q3 2024 earnings per share (EPS) estimates for Longboard Pharmaceuticals in a report released on Wednesday, September 18th. HC Wainwright analyst P. Trucchio now expects that the company will earn ($0.61) per share for the quarter, down from their previous estimate of ($0.49). HC Wainwright has a “Buy” rating and a $80.00 price objective on the stock. The consensus estimate for Longboard Pharmaceuticals’ current full-year earnings is ($2.13) per share. HC Wainwright also issued estimates for Longboard Pharmaceuticals’ Q4 2024 earnings at ($0.65) EPS, FY2024 earnings at ($2.27) EPS, Q1 2025 earnings at ($0.71) EPS, Q2 2025 earnings at ($0.76) EPS, Q3 2025 earnings at ($0.80) EPS, Q4 2025 earnings at ($0.77) EPS, FY2025 earnings at ($3.04) EPS, FY2026 earnings at ($3.18) EPS, FY2027 earnings at ($2.04) EPS and FY2028 earnings at $0.23 EPS.

Other research analysts have also issued reports about the company. Robert W. Baird lifted their target price on Longboard Pharmaceuticals from $36.00 to $60.00 and gave the stock an “outperform” rating in a report on Thursday, July 11th. Citigroup lifted their price objective on Longboard Pharmaceuticals from $45.00 to $50.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Cantor Fitzgerald reissued an “overweight” rating and set a $90.00 target price on shares of Longboard Pharmaceuticals in a research note on Monday. Evercore ISI reaffirmed an “outperform” rating and issued a $80.00 price target on shares of Longboard Pharmaceuticals in a research note on Monday, August 26th. Finally, Truist Financial initiated coverage on shares of Longboard Pharmaceuticals in a research report on Tuesday, September 10th. They set a “buy” rating and a $60.00 price objective for the company. Nine analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $60.11.

Longboard Pharmaceuticals Stock Up 14.0 %

Shares of NASDAQ LBPH opened at $33.40 on Friday. Longboard Pharmaceuticals has a twelve month low of $3.60 and a twelve month high of $40.48. The stock has a market cap of $1.30 billion, a price-to-earnings ratio of -14.91 and a beta of 1.24. The company’s fifty day moving average is $34.96 and its 200-day moving average is $25.84.

Longboard Pharmaceuticals (NASDAQ:LBPH) last released its quarterly earnings data on Thursday, August 1st. The company reported ($0.56) earnings per share for the quarter, missing the consensus estimate of ($0.46) by ($0.10). During the same period last year, the company earned ($0.65) EPS.

Insider Transactions at Longboard Pharmaceuticals

In related news, CMO Randall Kaye sold 16,666 shares of Longboard Pharmaceuticals 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 sale, the chief marketing officer now owns 17,920 shares of the company’s stock, valued at $566,988.80. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders sold a total of 33,433 shares of company stock worth $1,108,244 in the last three months. Insiders own 4.64% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. CIBC Asset Management Inc grew its stake in shares of Longboard Pharmaceuticals by 46.8% in the fourth quarter. CIBC Asset Management Inc now owns 212,178 shares of the company’s stock valued at $1,279,000 after buying an additional 67,607 shares in the last quarter. Parkman Healthcare Partners LLC grew its position in shares of Longboard Pharmaceuticals by 20.8% in the 4th quarter. Parkman Healthcare Partners LLC now owns 429,892 shares of the company’s stock valued at $2,592,000 after acquiring an additional 73,935 shares during the period. Platinum Investment Management Ltd. acquired a new position in shares of Longboard Pharmaceuticals during the 4th quarter worth about $766,000. Jennison Associates LLC raised its holdings in shares of Longboard Pharmaceuticals by 96.0% in the 1st quarter. Jennison Associates LLC now owns 942,404 shares of the company’s stock valued at $20,356,000 after purchasing an additional 461,576 shares during the period. Finally, Swiss National Bank acquired a new stake in Longboard Pharmaceuticals in the 1st quarter valued at about $914,000. 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.