Longboard Pharmaceuticals (NASDAQ:LBPH) PT Raised to $90.00

Longboard Pharmaceuticals (NASDAQ:LBPH) had its price objective boosted by analysts at Cantor Fitzgerald from $60.00 to $90.00 in a note issued to investors on Monday, Briefing.com reports. The firm presently has an “overweight” rating on the stock. Cantor Fitzgerald’s price objective would indicate a potential upside of 212.93% from the stock’s current price.

Several other equities research analysts have also issued reports on LBPH. Robert W. Baird started coverage on Longboard Pharmaceuticals in a research report on Wednesday, May 1st. They set an “outperform” rating and a $36.00 price target on the stock. B. Riley raised their target price on Longboard Pharmaceuticals from $30.00 to $36.00 and gave the company a “buy” rating in a research note on Tuesday, June 11th. Wedbush upped their target price on Longboard Pharmaceuticals from $32.00 to $34.00 and gave the company an “outperform” rating in a report on Friday, May 3rd. HC Wainwright reissued a “buy” rating and issued a $60.00 price objective on shares of Longboard Pharmaceuticals in a research note on Tuesday, June 11th. Finally, Evercore ISI raised their price target on Longboard Pharmaceuticals from $44.00 to $57.00 and gave the stock an “outperform” rating in a research note on Thursday, June 20th. Eight research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $48.13.

Longboard Pharmaceuticals Price Performance

NASDAQ LBPH traded up $1.73 on Monday, reaching $28.76. The company had a trading volume of 904,753 shares, compared to its average volume of 952,942. The firm has a market capitalization of $1.12 billion, a PE ratio of -13.03 and a beta of 1.24. Longboard Pharmaceuticals has a 1 year low of $3.60 and a 1 year high of $30.05. The firm has a 50-day moving average of $20.02 and a 200-day moving average of $19.38.

Longboard Pharmaceuticals (NASDAQ:LBPH) last announced its earnings results on Thursday, May 2nd. The company reported ($0.42) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.48) by $0.06. As a group, sell-side analysts expect that Longboard Pharmaceuticals will post -1.82 EPS for the current fiscal year.

Hedge Funds Weigh In On Longboard Pharmaceuticals

A number of institutional investors and hedge funds have recently bought and sold shares of the business. RA Capital Management L.P. acquired a new position in shares of Longboard Pharmaceuticals during the first quarter valued at $71,045,000. Farallon Capital Management LLC lifted its stake in shares of Longboard Pharmaceuticals by 88.4% during the first quarter. Farallon Capital Management LLC now owns 2,940,500 shares of the company’s stock valued at $63,515,000 after acquiring an additional 1,380,000 shares during the period. Polar Capital Holdings Plc acquired a new position in shares of Longboard Pharmaceuticals during the third quarter valued at $5,560,000. Vanguard Group Inc. lifted its stake in shares of Longboard Pharmaceuticals by 119.3% during the first quarter. Vanguard Group Inc. now owns 1,724,431 shares of the company’s stock valued at $37,248,000 after acquiring an additional 937,998 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its stake in shares of Longboard Pharmaceuticals by 36.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 2,217,995 shares of the company’s stock valued at $47,910,000 after acquiring an additional 591,013 shares during the period. Institutional investors and hedge funds 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.