Weekly Investment Analysts’ Ratings Updates for Longboard Pharmaceuticals (LBPH)

Several brokerages have updated their recommendations and price targets on shares of Longboard Pharmaceuticals (NASDAQ: LBPH) in the last few weeks:

• 7/1/2024 – Longboard Pharmaceuticals had its price target raised by analysts at Cantor Fitzgerald from $60.00 to $90.00. They now have an “overweight” rating on the stock.
• 6/20/2024 – Longboard Pharmaceuticals had its “overweight” rating reaffirmed by analysts at Cantor Fitzgerald. They now have a $60.00 price target on the stock.
• 6/20/2024 – Longboard Pharmaceuticals had its price target raised by analysts at Evercore ISI from $44.00 to $57.00. They now have an “outperform” rating on the stock.
• 6/11/2024 – Longboard Pharmaceuticals had its price target raised by analysts at B. Riley from $30.00 to $36.00. They now have a “buy” rating on the stock.
• 6/11/2024 – Longboard Pharmaceuticals had its “buy” rating reaffirmed by analysts at HC Wainwright. They now have a $60.00 price target on the stock.
• 5/7/2024 – Longboard Pharmaceuticals had its “buy” rating reaffirmed by analysts at HC Wainwright. They now have a $60.00 price target on the stock.
• 5/3/2024 – Longboard Pharmaceuticals had its “overweight” rating reaffirmed by analysts at Cantor Fitzgerald. They now have a $60.00 price target on the stock.
• 5/3/2024 – Longboard Pharmaceuticals had its price target raised by analysts at Wedbush from $32.00 to $34.00. They now have an “outperform” rating on the stock.

Longboard Pharmaceuticals Stock Performance

Shares of NASDAQ:LBPH traded up $3.89 on Monday, hitting $30.92. 1,871,252 shares of the company’s stock were exchanged, compared to its average volume of 961,421. The firm’s 50-day moving average is $20.02 and its 200 day moving average is $19.38. The company has a market capitalization of $1.20 billion, a PE ratio of -13.80 and a beta of 1.24. Longboard Pharmaceuticals, Inc. has a 1-year low of $3.60 and a 1-year high of $31.80.

Longboard Pharmaceuticals (NASDAQ:LBPH) last released its quarterly earnings data on Thursday, May 2nd. The company reported ($0.42) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.48) by $0.06. On average, analysts anticipate that Longboard Pharmaceuticals, Inc. will post -1.82 EPS for the current fiscal year.

Institutional Investors Weigh In On Longboard Pharmaceuticals

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Ameritas Investment Partners Inc. raised its stake in shares of Longboard Pharmaceuticals by 93.3% during the first quarter. Ameritas Investment Partners Inc. now owns 2,486 shares of the company’s stock worth $54,000 after purchasing an additional 1,200 shares during the last quarter. SG Americas Securities LLC purchased a new stake in shares of Longboard Pharmaceuticals during the first quarter worth approximately $132,000. Denali Advisors LLC purchased a new stake in shares of Longboard Pharmaceuticals during the first quarter worth approximately $201,000. American International Group Inc. raised its stake in shares of Longboard Pharmaceuticals by 58.6% during the first quarter. American International Group Inc. now owns 12,283 shares of the company’s stock worth $265,000 after purchasing an additional 4,540 shares during the last quarter. Finally, Quantbot Technologies LP purchased a new stake in shares of Longboard Pharmaceuticals during the first quarter worth approximately $310,000. Hedge funds and other institutional investors own 63.28% of the company’s stock.

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.