Longboard Pharmaceuticals (NASDAQ:LBPH) Receives New Coverage from Analysts at Truist Financial

Truist Financial began coverage on shares of Longboard Pharmaceuticals (NASDAQ:LBPH) in a report released on Tuesday, MarketBeat.com reports. The brokerage issued a buy rating and a $60.00 price target on the stock.

LBPH has been the subject of several other research reports. HC Wainwright restated a buy rating and set a $60.00 target price on shares of Longboard Pharmaceuticals in a research report on Thursday, August 22nd. Citigroup boosted their target price on Longboard Pharmaceuticals from $45.00 to $50.00 and gave the company a buy rating in a research report on Friday, August 2nd. Robert W. Baird boosted their target price on Longboard Pharmaceuticals from $36.00 to $60.00 and gave the company an outperform rating in a research report on Thursday, July 11th. Evercore ISI restated an outperform rating and set a $80.00 target price on shares of Longboard Pharmaceuticals in a research report on Monday, August 26th. Finally, Wedbush dropped their target price on Longboard Pharmaceuticals from $42.00 to $40.00 and set an outperform rating for the company in a research report on Friday, August 2nd. Nine analysts have rated the stock with a buy rating, According to MarketBeat.com, Longboard Pharmaceuticals has a consensus rating of Buy and a consensus target price of $57.44.

Longboard Pharmaceuticals Price Performance

Shares of NASDAQ LBPH opened at $34.32 on Tuesday. The business’s 50 day moving average is $35.26 and its two-hundred day moving average is $25.69. Longboard Pharmaceuticals has a 1-year low of $3.60 and a 1-year high of $40.48. The stock has a market capitalization of $1.34 billion, a P/E ratio of -15.32 and a beta of 1.24.

Longboard Pharmaceuticals (NASDAQ:LBPH) last issued its quarterly earnings data on Thursday, August 1st. The company reported ($0.56) earnings per share for the quarter, missing the consensus estimate of ($0.46) by ($0.10). During the same period in the prior year, the company earned ($0.65) earnings per share. As a group, equities research analysts anticipate that Longboard Pharmaceuticals will post -2.13 earnings per share for the current fiscal year.

Insider Activity at Longboard Pharmaceuticals

In related news, CMO Randall Kaye sold 16,667 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $34.73, for a total value of $578,844.91. Following the completion of the sale, the chief marketing officer now owns 17,920 shares in the company, valued at $622,361.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 4.64% of the stock is owned by company insiders.

Institutional Trading of Longboard Pharmaceuticals

Hedge funds have recently bought and sold shares of the stock. Ameritas Investment Partners Inc. lifted its holdings in Longboard Pharmaceuticals by 93.3% during the first quarter. Ameritas Investment Partners Inc. now owns 2,486 shares of the company’s stock worth $54,000 after buying an additional 1,200 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in Longboard Pharmaceuticals during the second quarter worth $127,000. SG Americas Securities LLC purchased a new stake in Longboard Pharmaceuticals during the first quarter worth $132,000. Denali Advisors LLC purchased a new stake in Longboard Pharmaceuticals during the first quarter worth $201,000. Finally, Arizona State Retirement System purchased a new stake in Longboard Pharmaceuticals during the second quarter worth $216,000. Hedge funds and other institutional investors 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.