Emerald Mutual Fund Advisers Trust Increases Holdings in Longboard Pharmaceuticals, Inc. (NASDAQ:LBPH)

Emerald Mutual Fund Advisers Trust grew its position in shares of Longboard Pharmaceuticals, Inc. (NASDAQ:LBPH) by 128.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 419,462 shares of the company’s stock after buying an additional 235,885 shares during the quarter. Emerald Mutual Fund Advisers Trust’s holdings in Longboard Pharmaceuticals were worth $13,981,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Ameritas Investment Partners Inc. lifted its holdings in Longboard Pharmaceuticals by 93.3% in the first quarter. Ameritas Investment Partners Inc. now owns 2,486 shares of the company’s stock valued at $54,000 after acquiring an additional 1,200 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in shares of Longboard Pharmaceuticals in the 2nd quarter worth approximately $127,000. SG Americas Securities LLC purchased a new position in shares of Longboard Pharmaceuticals in the first quarter worth approximately $132,000. Arizona State Retirement System bought a new stake in Longboard Pharmaceuticals during the second quarter valued at approximately $216,000. Finally, American International Group Inc. grew its position in Longboard Pharmaceuticals by 58.6% during the first quarter. American International Group Inc. now owns 12,283 shares of the company’s stock valued at $265,000 after buying an additional 4,540 shares during the period. 63.28% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Longboard Pharmaceuticals

In other Longboard Pharmaceuticals news, CMO Randall Kaye sold 16,667 shares of the business’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $59.03, for a total value of $983,853.01. Following the sale, the chief marketing officer now owns 17,920 shares in the company, valued at $1,057,817.60. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Over the last ninety days, insiders sold 50,000 shares of company stock valued at $2,090,010. Corporate insiders own 4.64% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on LBPH shares. B. Riley reiterated a “neutral” rating and set a $60.00 price target (up previously from $45.00) on shares of Longboard Pharmaceuticals in a research note on Monday, October 14th. HC Wainwright reiterated a “neutral” rating and set a $60.00 target price (down from $80.00) on shares of Longboard Pharmaceuticals in a research report on Tuesday, October 15th. Truist Financial restated a “hold” rating and issued a $60.00 price target on shares of Longboard Pharmaceuticals in a research report on Tuesday, October 15th. Cantor Fitzgerald reaffirmed a “neutral” rating on shares of Longboard Pharmaceuticals in a research report on Monday, October 14th. Finally, Evercore ISI reissued an “outperform” rating and issued a $80.00 target price on shares of Longboard Pharmaceuticals in a report on Monday, August 26th. Five equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, Longboard Pharmaceuticals presently has a consensus rating of “Hold” and an average target price of $59.56.

Longboard Pharmaceuticals Price Performance

Shares of LBPH opened at $59.69 on Friday. Longboard Pharmaceuticals, Inc. has a 12-month low of $3.60 and a 12-month high of $59.95. The business’s 50 day moving average is $41.68 and its 200 day moving average is $31.72.

Longboard Pharmaceuticals (NASDAQ:LBPH) last released its quarterly earnings data on Thursday, August 1st. The company reported ($0.56) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.46) by ($0.10). During the same quarter in the previous year, the company posted ($0.65) EPS. As a group, sell-side analysts anticipate that Longboard Pharmaceuticals, Inc. will post -2.19 earnings per share for the current fiscal year.

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.