Longboard Pharmaceuticals (NASDAQ:LBPH) Now Covered by Analysts at Robert W. Baird

Robert W. Baird initiated coverage on shares of Longboard Pharmaceuticals (NASDAQ:LBPH) in a report published on Wednesday, Marketbeat reports. The firm issued an outperform rating and a $36.00 price target on the stock.

Other research analysts have also issued research reports about the company. Wedbush reiterated an outperform rating and issued a $32.00 price target on shares of Longboard Pharmaceuticals in a research report on Wednesday, March 13th. Guggenheim raised their price target on Longboard Pharmaceuticals from $16.00 to $32.00 and gave the stock a buy rating in a research report on Tuesday, January 2nd. Citigroup assumed coverage on shares of Longboard Pharmaceuticals in a research report on Friday, February 16th. They set a buy rating and a $40.00 price objective on the stock. HC Wainwright restated a buy rating and issued a $60.00 target price on shares of Longboard Pharmaceuticals in a report on Tuesday, April 16th. Finally, Cantor Fitzgerald reiterated an overweight rating and set a $60.00 price target on shares of Longboard Pharmaceuticals in a report on Wednesday, April 10th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has an average rating of Buy and an average price target of $43.33.

Longboard Pharmaceuticals Stock Performance

Shares of Longboard Pharmaceuticals stock opened at $21.96 on Wednesday. Longboard Pharmaceuticals has a twelve month low of $3.60 and a twelve month high of $28.15. The business has a 50-day moving average price of $20.05 and a 200-day moving average price of $14.76.

Longboard Pharmaceuticals (NASDAQ:LBPH) last announced its quarterly earnings results on Tuesday, March 12th. The company reported ($0.62) EPS for the quarter, missing analysts’ consensus estimates of ($0.60) by ($0.02). Sell-side analysts expect that Longboard Pharmaceuticals will post -2.01 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Denali Advisors LLC bought a new stake in shares of Longboard Pharmaceuticals during the first quarter valued at approximately $201,000. Parkman Healthcare Partners LLC raised its stake in Longboard Pharmaceuticals by 20.8% in the 4th quarter. Parkman Healthcare Partners LLC now owns 429,892 shares of the company’s stock worth $2,592,000 after acquiring an additional 73,935 shares during the last quarter. Platinum Investment Management Ltd. acquired a new stake in shares of Longboard Pharmaceuticals during the fourth quarter worth about $766,000. 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 buying an additional 67,607 shares in the last quarter. Finally, Jennison Associates LLC acquired a new stake in Longboard Pharmaceuticals during the fourth quarter valued at $2,899,000. Hedge funds and other institutional investors own 63.28% of the company’s stock.

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.