Longboard Pharmaceuticals (NASDAQ:LBPH) PT Raised to $44.00

Longboard Pharmaceuticals (NASDAQ:LBPH) had its price target increased by Wedbush from $40.00 to $44.00 in a research report sent to investors on Tuesday, Benzinga reports. Wedbush currently has an outperform rating on the stock. Wedbush also issued estimates for Longboard Pharmaceuticals’ FY2027 earnings at ($3.15) EPS and FY2028 earnings at ($0.68) EPS.

A number of other analysts have also weighed in on the stock. B. Riley increased their price objective on shares of Longboard Pharmaceuticals from $36.00 to $45.00 and gave the stock a buy rating in a research note on Monday, August 5th. Cantor Fitzgerald restated an overweight rating and set a $90.00 price target on shares of Longboard Pharmaceuticals in a research report on Monday, September 16th. 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 price objective for the company. Evercore ISI reiterated an outperform rating and set a $80.00 target price on shares of Longboard Pharmaceuticals in a research report on Monday, August 26th. Finally, HC Wainwright reiterated a buy rating and issued a $60.00 price objective on shares of Longboard Pharmaceuticals in a report on Thursday, August 22nd. Nine investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has a consensus rating of Buy and a consensus price target of $60.11.

Longboard Pharmaceuticals Trading Up 1.5 %

Shares of LBPH opened at $33.89 on Tuesday. The firm has a market cap of $1.32 billion, a PE ratio of -15.13 and a beta of 1.24. The stock has a fifty day moving average price of $34.80 and a 200-day moving average price of $25.98. Longboard Pharmaceuticals has a 12 month low of $3.60 and a 12 month high of $40.48.

Longboard Pharmaceuticals (NASDAQ:LBPH) last posted its quarterly earnings data 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 business posted ($0.65) EPS. As a group, research analysts forecast that Longboard Pharmaceuticals will post -2.13 EPS for the current year.

Insiders Place Their Bets

In related news, CMO Randall Kaye sold 16,667 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $34.73, for a total value of $578,844.91. Following the transaction, the chief marketing officer now directly owns 17,920 shares in the company, valued at $622,361.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold 33,433 shares of company stock valued at $1,108,244 in the last three months. 4.64% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Longboard Pharmaceuticals

A number of hedge funds have recently made changes to their positions in the stock. Ameritas Investment Partners Inc. boosted its position 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 buying an additional 1,200 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in Longboard Pharmaceuticals during the second quarter worth about $127,000. SG Americas Securities LLC acquired a new stake in shares of Longboard Pharmaceuticals during the first quarter worth about $132,000. Denali Advisors LLC purchased a new position in shares of Longboard Pharmaceuticals in the first quarter valued at approximately $201,000. Finally, Arizona State Retirement System purchased a new position in shares of Longboard Pharmaceuticals in the second quarter valued at approximately $216,000. Hedge funds and other institutional investors own 63.28% of the company’s stock.

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.