Longboard Pharmaceuticals (NASDAQ:LBPH) Receives “Hold” Rating from Truist Financial

Truist Financial restated their hold rating on shares of Longboard Pharmaceuticals (NASDAQ:LBPH) in a research report report published on Tuesday, Benzinga reports. They currently have a $60.00 price objective on the stock.

Several other analysts have also recently weighed in on the company. B. Riley reissued a “neutral” rating and set a $60.00 price target (up from $45.00) on shares of Longboard Pharmaceuticals in a report on Monday, October 14th. Wedbush increased 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. HC Wainwright boosted their target price on shares of Longboard Pharmaceuticals from $60.00 to $80.00 and gave the company a “buy” rating in a research report on Wednesday, September 18th. Evercore ISI reaffirmed an “outperform” rating and set a $80.00 price target on shares of Longboard Pharmaceuticals in a research report on Monday, August 26th. Finally, Robert W. Baird boosted their price objective on shares of Longboard Pharmaceuticals from $36.00 to $60.00 and gave the company an “outperform” rating in a report on Thursday, July 11th. Five research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, Longboard Pharmaceuticals currently has an average rating of “Hold” and an average price target of $59.56.

Longboard Pharmaceuticals Price Performance

LBPH stock opened at $59.21 on Tuesday. Longboard Pharmaceuticals has a one year low of $3.60 and a one year high of $59.47. The stock has a market cap of $2.30 billion, a price-to-earnings ratio of -26.43 and a beta of 1.22. The company has a fifty day moving average price of $36.79 and a two-hundred day moving average price of $28.79.

Longboard Pharmaceuticals (NASDAQ:LBPH) last announced its 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 company earned ($0.65) EPS. Research analysts anticipate that Longboard Pharmaceuticals will post -2.19 EPS for the current fiscal year.

Insider Activity

In related news, CMO Randall Kaye sold 16,666 shares of the stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $31.64, for a total transaction of $527,312.24. Following the sale, the chief marketing officer now owns 17,920 shares in the company, valued at approximately $566,988.80. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In the last ninety days, insiders sold 50,000 shares of company stock worth $2,090,010. 4.64% of the stock is currently owned by corporate insiders.

Institutional Trading of Longboard Pharmaceuticals

Large investors have recently bought and sold shares of the business. Denali Advisors LLC acquired a new position in Longboard Pharmaceuticals during the first quarter worth about $201,000. Jennison Associates LLC lifted its stake in Longboard Pharmaceuticals by 96.0% in the 1st quarter. Jennison Associates LLC now owns 942,404 shares of the company’s stock valued at $20,356,000 after purchasing an additional 461,576 shares during the last quarter. Quantbot Technologies LP acquired a new stake in Longboard Pharmaceuticals in the first quarter valued at approximately $310,000. SG Americas Securities LLC bought a new stake in shares of Longboard Pharmaceuticals during the first quarter worth $132,000. Finally, Swiss National Bank bought a new stake in shares of Longboard Pharmaceuticals during the first quarter worth $914,000. 63.28% of the stock is owned by institutional investors and hedge funds.

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.