Longboard Pharmaceuticals (NASDAQ:LBPH) Given Hold Rating at Truist Financial

Truist Financial reiterated their hold rating on shares of Longboard Pharmaceuticals (NASDAQ:LBPH) in a research note issued to investors on Tuesday, Benzinga reports. They currently have a $60.00 price target on the stock.

Several other brokerages also recently issued reports on LBPH. Wedbush boosted their price objective on Longboard Pharmaceuticals from $40.00 to $44.00 and gave the stock an outperform rating in a research report on Tuesday, September 17th. Evercore ISI reiterated an outperform rating and set a $80.00 price objective on shares of Longboard Pharmaceuticals in a research report on Monday, August 26th. HC Wainwright boosted their price objective on Longboard Pharmaceuticals from $60.00 to $80.00 and gave the stock a buy rating in a research report on Wednesday, September 18th. Cantor Fitzgerald reiterated a neutral rating on shares of Longboard Pharmaceuticals in a research report on Monday. Finally, B. Riley reiterated a neutral rating and set a $60.00 price objective (up from $45.00) on shares of Longboard Pharmaceuticals in a research report on Monday. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of Moderate Buy and a consensus price target of $59.56.

Longboard Pharmaceuticals Stock Up 0.2 %

Shares of LBPH stock opened at $59.08 on Tuesday. The business has a 50 day moving average of $35.38 and a two-hundred day moving average of $28.09. Longboard Pharmaceuticals has a 52 week low of $3.60 and a 52 week high of $59.12. The company has a market cap of $2.30 billion, a P/E ratio of -26.38 and a beta of 1.22.

Longboard Pharmaceuticals (NASDAQ:LBPH) last issued 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 in the prior year, the business posted ($0.65) earnings per share. Analysts expect that Longboard Pharmaceuticals will post -2.19 EPS for the current fiscal year.

Insider Buying and Selling

In other Longboard Pharmaceuticals news, CMO Randall Kaye sold 16,667 shares of the company’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $34.73, for a total value of $578,844.91. Following the transaction, the chief marketing officer now owns 17,920 shares of the company’s stock, valued at approximately $622,361.60. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 4.64% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Jennison Associates LLC increased its holdings in shares of Longboard Pharmaceuticals by 96.0% in the first quarter. Jennison Associates LLC now owns 942,404 shares of the company’s stock valued at $20,356,000 after buying an additional 461,576 shares in the last quarter. Swiss National Bank bought a new position in shares of Longboard Pharmaceuticals in the first quarter valued at $914,000. Quantbot Technologies LP bought a new position in shares of Longboard Pharmaceuticals in the first quarter valued at $310,000. 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 valued at $47,910,000 after buying an additional 591,013 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in shares of Longboard Pharmaceuticals by 34.5% in the second quarter. Bank of New York Mellon Corp now owns 92,664 shares of the company’s stock valued at $2,505,000 after buying an additional 23,774 shares in the last quarter. Institutional investors own 63.28% of the company’s stock.

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.