Longboard Pharmaceuticals (NASDAQ:LBPH) Coverage Initiated at Robert W. Baird

Robert W. Baird assumed coverage on shares of Longboard Pharmaceuticals (NASDAQ:LBPH) in a research report sent to investors on Wednesday morning, Marketbeat reports. The brokerage issued an outperform rating and a $36.00 price objective on the stock.

A number of other analysts also recently issued reports on the company. Cantor Fitzgerald reaffirmed an overweight rating and issued a $60.00 target price on shares of Longboard Pharmaceuticals in a research note on Wednesday, April 10th. Wedbush reaffirmed an outperform rating and set a $32.00 target price on shares of Longboard Pharmaceuticals in a research note on Wednesday, March 13th. Citigroup began coverage on shares of Longboard Pharmaceuticals in a research note on Friday, February 16th. They issued a buy rating and a $40.00 price target on the stock. HC Wainwright reaffirmed a buy rating and set a $60.00 price objective on shares of Longboard Pharmaceuticals in a research report on Tuesday, April 16th. Finally, Guggenheim lifted their target price on shares of Longboard Pharmaceuticals from $16.00 to $32.00 and gave the company a buy rating in a report on Tuesday, January 2nd. Six research analysts have rated the stock with a buy rating, According to MarketBeat.com, Longboard Pharmaceuticals has an average rating of Buy and an average price target of $43.67.

Longboard Pharmaceuticals Stock Down 6.3 %

Shares of LBPH opened at $21.38 on Wednesday. Longboard Pharmaceuticals has a 52-week low of $3.60 and a 52-week high of $28.15. The company has a market capitalization of $769.93 million, a PE ratio of -9.54 and a beta of 1.25. The stock has a fifty day simple moving average of $20.08 and a two-hundred day simple moving average of $14.98.

Longboard Pharmaceuticals (NASDAQ:LBPH) last issued its earnings results on Tuesday, March 12th. The company reported ($0.62) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.60) by ($0.02). As a group, equities analysts anticipate that Longboard Pharmaceuticals will post -2.01 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Bourgeon Capital Management LLC purchased a new position in Longboard Pharmaceuticals in the 3rd quarter valued at approximately $39,000. Denali Advisors LLC acquired a new stake in shares of Longboard Pharmaceuticals in the first quarter valued at $201,000. TD Asset Management Inc boosted its holdings in Longboard Pharmaceuticals by 149.8% in the third quarter. TD Asset Management Inc now owns 121,422 shares of the company’s stock valued at $675,000 after purchasing an additional 72,811 shares during the period. Platinum Investment Management Ltd. acquired a new position in Longboard Pharmaceuticals during the 4th quarter worth $766,000. Finally, CIBC Asset Management Inc increased its holdings in Longboard Pharmaceuticals by 46.8% during the 4th quarter. CIBC Asset Management Inc now owns 212,178 shares of the company’s stock worth $1,279,000 after purchasing an additional 67,607 shares during the period. Institutional investors and hedge funds 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.