Longboard Pharmaceuticals, Inc. (NASDAQ:LBPH) Given Average Rating of “Buy” by Brokerages

Shares of Longboard Pharmaceuticals, Inc. (NASDAQ:LBPH) have been assigned a consensus rating of “Buy” from the nine ratings firms that are presently covering the firm, Marketbeat reports. Nine equities research analysts have rated the stock with a buy recommendation. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $60.11.

Several equities analysts recently issued reports on LBPH shares. Citigroup boosted their price target on Longboard Pharmaceuticals from $45.00 to $50.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Evercore ISI reiterated an “outperform” rating and set a $80.00 price target on shares of Longboard Pharmaceuticals in a research note on Monday, August 26th. HC Wainwright raised their price objective on shares of Longboard Pharmaceuticals from $60.00 to $80.00 and gave the stock a “buy” rating in a report on Wednesday, September 18th. Cantor Fitzgerald reissued an “overweight” rating and issued a $90.00 target price on shares of Longboard Pharmaceuticals in a research note on Monday, September 16th. Finally, B. Riley raised 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.

Insider Activity

In other Longboard Pharmaceuticals news, CMO Randall Kaye sold 16,666 shares of the stock in a transaction on Monday, September 16th. The stock was sold at an average price of $31.64, for a total value of $527,312.24. Following the transaction, the chief marketing officer now directly owns 17,920 shares in the company, valued at approximately $566,988.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 4.64% of the stock is owned by insiders.

Hedge Funds Weigh In On Longboard Pharmaceuticals

Several large investors have recently bought and sold shares of LBPH. RA Capital Management L.P. acquired a new stake in shares of Longboard Pharmaceuticals in the 1st quarter valued at approximately $71,045,000. Farallon Capital Management LLC grew its stake in Longboard Pharmaceuticals by 88.4% in the first quarter. Farallon Capital Management LLC now owns 2,940,500 shares of the company’s stock valued at $63,515,000 after acquiring an additional 1,380,000 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in shares of Longboard Pharmaceuticals by 36.3% in 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 in the last quarter. Vanguard Group Inc. raised 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 purchasing an additional 937,998 shares during the period. Finally, Integral Health Asset Management LLC lifted its holdings in shares of Longboard Pharmaceuticals by 12.8% during the 2nd quarter. Integral Health Asset Management LLC now owns 1,100,000 shares of the company’s stock valued at $29,733,000 after purchasing an additional 125,000 shares in the last quarter. 63.28% of the stock is currently owned by institutional investors and hedge funds.

Longboard Pharmaceuticals Stock Performance

NASDAQ LBPH opened at $36.42 on Thursday. The stock has a 50-day simple moving average of $34.29 and a 200 day simple moving average of $26.79. The stock has a market capitalization of $1.42 billion, a PE ratio of -16.26 and a beta of 1.24. Longboard Pharmaceuticals has a twelve month low of $3.60 and a twelve month high of $43.15.

Longboard Pharmaceuticals (NASDAQ:LBPH) last released its earnings results on Thursday, August 1st. The company reported ($0.56) EPS for the quarter, missing the consensus estimate of ($0.46) by ($0.10). During the same quarter in the previous year, the business posted ($0.65) EPS. As a group, equities research analysts forecast that Longboard Pharmaceuticals will post -2.19 EPS for the current fiscal year.

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.