HC Wainwright Increases Longboard Pharmaceuticals (NASDAQ:LBPH) Price Target to $80.00

Longboard Pharmaceuticals (NASDAQ:LBPH) had its price target increased by HC Wainwright from $60.00 to $80.00 in a research report released on Wednesday, Benzinga reports. The brokerage currently has a buy rating on the stock. HC Wainwright also issued estimates for Longboard Pharmaceuticals’ Q3 2024 earnings at ($0.61) EPS, Q4 2024 earnings at ($0.65) EPS, FY2024 earnings at ($2.27) EPS, Q1 2025 earnings at ($0.71) EPS, Q2 2025 earnings at ($0.76) EPS, Q3 2025 earnings at ($0.80) EPS, Q4 2025 earnings at ($0.77) EPS, FY2025 earnings at ($3.04) EPS, FY2026 earnings at ($3.18) EPS, FY2027 earnings at ($2.04) EPS and FY2028 earnings at $0.23 EPS.

Several other analysts have also commented on LBPH. Cantor Fitzgerald reaffirmed an overweight rating and set a $90.00 price target on shares of Longboard Pharmaceuticals in a research report on Monday, September 16th. Citigroup upped 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. Robert W. Baird raised their price objective on Longboard Pharmaceuticals from $36.00 to $60.00 and gave the stock an outperform rating in a research report on Thursday, July 11th. B. Riley boosted their price target on shares of Longboard Pharmaceuticals from $36.00 to $45.00 and gave the company a buy rating in a research note on Monday, August 5th. Finally, Truist Financial initiated coverage on shares of Longboard Pharmaceuticals in a report on Tuesday, September 10th. They issued a buy rating and a $60.00 target price for the company. Nine equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has a consensus rating of Buy and an average price target of $60.11.

Longboard Pharmaceuticals Price Performance

LBPH stock opened at $33.89 on Wednesday. Longboard Pharmaceuticals has a 1 year low of $3.60 and a 1 year high of $40.48. The firm has a market capitalization of $1.32 billion, a PE ratio of -15.13 and a beta of 1.24. The business has a 50 day simple moving average of $34.80 and a 200-day simple moving average of $25.98.

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 period last year, the firm posted ($0.65) earnings per share. On average, equities research analysts expect that Longboard Pharmaceuticals will post -2.13 EPS for the current year.

Insider Activity

In other news, CMO Randall Kaye sold 16,666 shares of Longboard Pharmaceuticals stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $31.64, for a total value of $527,312.24. Following the completion of the transaction, the chief marketing officer now owns 17,920 shares in the company, valued at approximately $566,988.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Over the last three months, insiders have sold 33,433 shares of company stock worth $1,108,244. Corporate insiders own 4.64% of the company’s stock.

Institutional Investors Weigh In On Longboard Pharmaceuticals

A number of hedge funds and other institutional investors have recently modified their holdings of LBPH. Ameritas Investment Partners Inc. increased its holdings in Longboard Pharmaceuticals by 93.3% in the first quarter. Ameritas Investment Partners Inc. now owns 2,486 shares of the company’s stock valued at $54,000 after buying an additional 1,200 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in Longboard Pharmaceuticals during the 2nd quarter worth about $127,000. SG Americas Securities LLC acquired a new position in shares of Longboard Pharmaceuticals during the 1st quarter worth about $132,000. Denali Advisors LLC purchased a new position in shares of Longboard Pharmaceuticals in the 1st quarter valued at about $201,000. Finally, Arizona State Retirement System acquired a new stake in shares of Longboard Pharmaceuticals during the 2nd quarter worth about $216,000. 63.28% of the stock is currently owned by institutional investors and hedge funds.

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.