Longboard Pharmaceuticals, Inc. (NASDAQ:LBPH) Receives $44.38 Consensus Target Price from Brokerages

Shares of Longboard Pharmaceuticals, Inc. (NASDAQ:LBPH) have earned an average rating of “Buy” from the eight research firms that are currently covering the firm, Marketbeat reports. Eight analysts have rated the stock with a buy recommendation. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $44.38.

Several equities research analysts have weighed in on LBPH shares. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $60.00 price target on shares of Longboard Pharmaceuticals in a research note on Thursday, June 20th. Evercore ISI lifted their price target on shares of Longboard Pharmaceuticals from $44.00 to $57.00 and gave the company an “outperform” rating in a research note on Thursday, June 20th. Robert W. Baird started coverage on shares of Longboard Pharmaceuticals in a research note on Wednesday, May 1st. They issued an “outperform” rating and a $36.00 price target for the company. B. Riley lifted their price target on shares of Longboard Pharmaceuticals from $30.00 to $36.00 and gave the company a “buy” rating in a research note on Tuesday, June 11th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $60.00 price target on shares of Longboard Pharmaceuticals in a research note on Tuesday, June 11th.

Longboard Pharmaceuticals Trading Up 20.2 %

NASDAQ LBPH opened at $27.03 on Tuesday. Longboard Pharmaceuticals has a 1 year low of $3.60 and a 1 year high of $28.15. The firm has a market capitalization of $1.05 billion, a price-to-earnings ratio of -12.07 and a beta of 1.15. The firm’s 50 day simple moving average is $20.02 and its 200 day simple moving average is $19.27.

Longboard Pharmaceuticals (NASDAQ:LBPH) last posted its quarterly earnings results on Thursday, May 2nd. The company reported ($0.42) earnings per share for the quarter, beating the consensus estimate of ($0.48) by $0.06. On average, equities research analysts forecast that Longboard Pharmaceuticals will post -1.82 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in LBPH. Farallon Capital Management LLC boosted 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 last quarter. RA Capital Management L.P. purchased a new position in Longboard Pharmaceuticals in the first quarter valued at about $71,045,000. California State Teachers Retirement System raised its position in shares of Longboard Pharmaceuticals by 748.2% in the first quarter. California State Teachers Retirement System now owns 21,747 shares of the company’s stock valued at $470,000 after purchasing an additional 19,183 shares during the period. AWM Investment Company Inc. purchased a new stake in shares of Longboard Pharmaceuticals during the 1st quarter valued at approximately $4,569,000. Finally, Price T Rowe Associates Inc. MD lifted its stake in shares of Longboard Pharmaceuticals by 36.3% during the 1st 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. 63.28% of the stock is currently owned by hedge funds and other institutional investors.

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.