Longboard Pharmaceuticals, Inc. (NASDAQ:LBPH) Receives $43.67 Consensus PT from Brokerages

Longboard Pharmaceuticals, Inc. (NASDAQ:LBPH) has been given an average recommendation of “Buy” by the six ratings firms that are covering the stock, MarketBeat Ratings reports. Six investment analysts have rated the stock with a buy recommendation. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $43.67.

LBPH has been the subject of several research analyst reports. Wedbush upped their price target on shares of Longboard Pharmaceuticals from $32.00 to $34.00 and gave the company an “outperform” rating in a report on Friday, May 3rd. HC Wainwright restated a “buy” rating and set a $60.00 target price on shares of Longboard Pharmaceuticals in a report on Tuesday. Robert W. Baird began coverage on shares of Longboard Pharmaceuticals in a report on Wednesday, May 1st. They set an “outperform” rating and a $36.00 target price for the company. Cantor Fitzgerald restated an “overweight” rating and set a $60.00 target price on shares of Longboard Pharmaceuticals in a report on Friday, May 3rd. Finally, Citigroup began coverage on shares of Longboard Pharmaceuticals in a report on Friday, February 16th. They set a “buy” rating and a $40.00 target price for the company.

Longboard Pharmaceuticals Stock Down 1.6 %

Longboard Pharmaceuticals stock opened at $21.70 on Monday. The stock has a market capitalization of $781.63 million, a PE ratio of -9.69 and a beta of 1.25. Longboard Pharmaceuticals has a twelve month low of $3.60 and a twelve month high of $28.15. The company has a 50 day moving average of $20.01 and a 200-day moving average of $15.35.

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

Institutional Trading of Longboard Pharmaceuticals

Large investors have recently added to or reduced their stakes in the company. SG Americas Securities LLC acquired a new stake in Longboard Pharmaceuticals in the first quarter valued at $132,000. Bourgeon Capital Management LLC bought a new position in shares of Longboard Pharmaceuticals in the third quarter valued at about $39,000. Denali Advisors LLC bought a new position in shares of Longboard Pharmaceuticals in the first quarter valued at about $201,000. Quantbot Technologies LP bought a new position in shares of Longboard Pharmaceuticals in the first quarter valued at about $310,000. Finally, Sei Investments Co. bought a new position in shares of Longboard Pharmaceuticals in the first quarter valued at about $429,000. 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.