Longboard Pharmaceuticals’ (LBPH) Buy Rating Reaffirmed at HC Wainwright

HC Wainwright restated their buy rating on shares of Longboard Pharmaceuticals (NASDAQ:LBPH) in a research note published on Thursday, Benzinga reports. They currently have a $60.00 target price on the stock.

A number of other equities analysts have also weighed in on the stock. Citigroup boosted their price objective on shares of Longboard Pharmaceuticals from $40.00 to $45.00 and gave the company a buy rating in a research report on Tuesday, July 2nd. B. Riley boosted their price objective on shares of Longboard Pharmaceuticals from $30.00 to $36.00 and gave the company a buy rating in a research report on Tuesday, June 11th. Wedbush boosted their price objective on shares of Longboard Pharmaceuticals from $32.00 to $34.00 and gave the company an outperform rating in a research report on Friday, May 3rd. Evercore ISI boosted their price objective on shares of Longboard Pharmaceuticals from $57.00 to $80.00 and gave the company an outperform rating in a research report on Tuesday, July 2nd. 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 research report on Thursday, July 11th. Eight investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has a consensus rating of Buy and a consensus price target of $56.00.

Longboard Pharmaceuticals Price Performance

Shares of NASDAQ LBPH traded down $0.07 on Thursday, hitting $32.85. The company’s stock had a trading volume of 831,803 shares, compared to its average volume of 929,174. Longboard Pharmaceuticals has a 12-month low of $3.60 and a 12-month high of $40.48. The company has a market capitalization of $1.28 billion, a price-to-earnings ratio of -14.50 and a beta of 1.24. The stock has a 50 day moving average of $26.88 and a 200-day moving average of $22.92.

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

Institutional Investors Weigh In On Longboard Pharmaceuticals

Institutional investors have recently bought and sold shares of the business. CIBC Asset Management Inc grew its stake 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 during the period. Parkman Healthcare Partners LLC grew its stake in Longboard Pharmaceuticals by 20.8% during the fourth quarter. Parkman Healthcare Partners LLC now owns 429,892 shares of the company’s stock worth $2,592,000 after buying an additional 73,935 shares during the period. Platinum Investment Management Ltd. purchased a new stake in Longboard Pharmaceuticals during the fourth quarter worth approximately $766,000. Jennison Associates LLC grew its stake in Longboard Pharmaceuticals by 96.0% during the first quarter. Jennison Associates LLC now owns 942,404 shares of the company’s stock worth $20,356,000 after buying an additional 461,576 shares during the period. Finally, Swiss National Bank purchased a new stake in Longboard Pharmaceuticals during the first quarter worth approximately $914,000. 63.28% of the stock is currently owned by hedge funds and other institutional investors.

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.