B. Riley Reaffirms “Neutral” Rating for Longboard Pharmaceuticals (NASDAQ:LBPH)

B. Riley reaffirmed their neutral rating on shares of Longboard Pharmaceuticals (NASDAQ:LBPH) in a research report report published on Monday morning, MarketBeat Ratings reports. They currently have a $60.00 price target on the stock, up from their prior price target of $45.00.

A number of other research analysts have also recently issued reports on LBPH. Wedbush boosted their target price on Longboard Pharmaceuticals from $40.00 to $44.00 and gave the company an “outperform” rating in a research note on Tuesday, September 17th. HC Wainwright lifted their price objective on Longboard Pharmaceuticals from $60.00 to $80.00 and gave the company a “buy” rating in a report on Wednesday, September 18th. Cantor Fitzgerald reissued a “neutral” rating on shares of Longboard Pharmaceuticals in a research note on Monday. Evercore ISI reaffirmed an “outperform” rating and issued a $80.00 price target on shares of Longboard Pharmaceuticals in a research note on Monday, August 26th. Finally, Truist Financial started coverage on shares of Longboard Pharmaceuticals in a research report on Tuesday, September 10th. They set a “buy” rating and a $60.00 price objective for the company. Five equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, Longboard Pharmaceuticals presently has an average rating of “Hold” and an average price target of $59.56.

Longboard Pharmaceuticals Price Performance

Shares of NASDAQ:LBPH opened at $59.40 on Monday. The firm’s 50 day simple moving average is $35.87 and its 200 day simple moving average is $28.31. Longboard Pharmaceuticals has a fifty-two week low of $3.60 and a fifty-two week high of $59.47. The company has a market capitalization of $2.31 billion, a price-to-earnings ratio of -26.52 and a beta of 1.22.

Longboard Pharmaceuticals (NASDAQ:LBPH) last posted its earnings results on Thursday, August 1st. The company reported ($0.56) earnings per share for the quarter, missing the consensus estimate of ($0.46) by ($0.10). During the same period in the prior year, the business posted ($0.65) EPS. Equities research analysts expect that Longboard Pharmaceuticals will post -2.19 earnings per share for the current year.

Insider Buying and Selling at Longboard Pharmaceuticals

In other news, CMO Randall Kaye sold 16,666 shares of the stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $31.64, for a total transaction of $527,312.24. Following the completion of the transaction, the chief marketing officer now directly owns 17,920 shares in the company, valued at $566,988.80. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In the last three months, insiders have sold 50,000 shares of company stock worth $2,090,010. Insiders own 4.64% of the company’s stock.

Institutional Investors Weigh In On Longboard Pharmaceuticals

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Ameritas Investment Partners Inc. increased its holdings in 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 last quarter. Squarepoint Ops LLC grew its position in shares of Longboard Pharmaceuticals by 30.4% in the 2nd quarter. Squarepoint Ops LLC now owns 13,972 shares of the company’s stock valued at $378,000 after acquiring an additional 3,260 shares during the period. American International Group Inc. grew its position in shares of Longboard Pharmaceuticals by 58.6% in the 1st quarter. American International Group Inc. now owns 12,283 shares of the company’s stock valued at $265,000 after acquiring an additional 4,540 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in shares of Longboard Pharmaceuticals in the 2nd quarter valued at about $127,000. Finally, SG Americas Securities LLC bought a new stake in shares of Longboard Pharmaceuticals in the 1st quarter valued at about $132,000. 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.