Longboard Pharmaceuticals (NASDAQ:LBPH) Rating Reiterated by Cantor Fitzgerald

Cantor Fitzgerald reissued their overweight rating on shares of Longboard Pharmaceuticals (NASDAQ:LBPH) in a report released on Friday, Benzinga reports. The brokerage currently has a $90.00 price target on the stock.

A number of other research firms have also weighed in on LBPH. Wedbush cut their target price on shares of Longboard Pharmaceuticals from $42.00 to $40.00 and set an outperform rating for the company in a research report on Friday. Citigroup increased their target price on Longboard Pharmaceuticals from $40.00 to $45.00 and gave the company a buy rating in a research note on Tuesday, July 2nd. Robert W. Baird lifted their price target on shares of Longboard Pharmaceuticals from $36.00 to $60.00 and gave the stock an outperform rating in a research report on Thursday, July 11th. HC Wainwright reaffirmed a buy rating and set a $60.00 price target on shares of Longboard Pharmaceuticals in a research report on Thursday. Finally, Evercore ISI boosted their price objective on Longboard Pharmaceuticals from $57.00 to $80.00 and gave the company an outperform rating in a research report on Tuesday, July 2nd. Eight research analysts have rated the stock with a buy rating, According to data from MarketBeat, Longboard Pharmaceuticals currently has a consensus rating of Buy and a consensus target price of $57.13.

Longboard Pharmaceuticals Stock Up 4.1 %

Longboard Pharmaceuticals stock traded up $1.34 during mid-day trading on Friday, hitting $34.19. 778,256 shares of the company’s stock traded hands, compared to its average volume of 928,161. The firm has a 50 day moving average price of $27.16 and a 200 day moving average price of $22.98. Longboard Pharmaceuticals has a one year low of $3.60 and a one year high of $40.48. The company has a market cap of $1.33 billion, a PE ratio of -14.40 and a beta of 1.24.

Longboard Pharmaceuticals (NASDAQ:LBPH) last posted its quarterly 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 last year, the firm posted ($0.65) EPS. On average, analysts expect that Longboard Pharmaceuticals will post -1.82 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Longboard Pharmaceuticals

Hedge funds have recently made changes to their positions in the business. CIBC Asset Management Inc boosted its holdings in Longboard Pharmaceuticals by 46.8% during the fourth quarter. CIBC Asset Management Inc now owns 212,178 shares of the company’s stock worth $1,279,000 after purchasing an additional 67,607 shares during the last quarter. Parkman Healthcare Partners LLC grew its holdings 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 in the last quarter. Platinum Investment Management Ltd. acquired a new stake in shares of Longboard Pharmaceuticals in the fourth quarter valued at about $766,000. Jennison Associates LLC raised its holdings in Longboard Pharmaceuticals by 96.0% during the first quarter. Jennison Associates LLC now owns 942,404 shares of the company’s stock worth $20,356,000 after acquiring an additional 461,576 shares in the last quarter. Finally, Swiss National Bank acquired a new position in Longboard Pharmaceuticals during the first quarter valued at approximately $914,000. 63.28% of the stock is owned by institutional investors.

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.