Longboard Pharmaceuticals (NASDAQ:LBPH) Given “Neutral” Rating at HC Wainwright

HC Wainwright restated their neutral rating on shares of Longboard Pharmaceuticals (NASDAQ:LBPH) in a research note issued to investors on Tuesday morning, MarketBeat Ratings reports. The firm currently has a $60.00 price objective on the stock, down from their prior price objective of $80.00.

Several other research firms have also recently weighed in on LBPH. Robert W. Baird raised 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. Citigroup raised their price objective on shares of Longboard Pharmaceuticals from $45.00 to $50.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Evercore ISI restated an “outperform” rating and set a $80.00 price objective on shares of Longboard Pharmaceuticals in a research report on Monday, August 26th. Cantor Fitzgerald restated a “neutral” rating on shares of Longboard Pharmaceuticals in a research report on Monday, October 14th. Finally, Wedbush raised their price objective on shares of Longboard Pharmaceuticals from $40.00 to $44.00 and gave the company an “outperform” rating in a research report on Tuesday, September 17th. Five analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, Longboard Pharmaceuticals presently has a consensus rating of “Hold” and a consensus price target of $59.56.

Longboard Pharmaceuticals Price Performance

NASDAQ LBPH opened at $59.21 on Tuesday. Longboard Pharmaceuticals has a 1 year low of $3.60 and a 1 year high of $59.47. The stock has a market capitalization of $2.30 billion, a PE ratio of -26.43 and a beta of 1.22. The company’s 50 day simple moving average is $36.79 and its two-hundred day simple moving average is $28.79.

Longboard Pharmaceuticals (NASDAQ:LBPH) last posted its earnings results 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 period last year, the firm posted ($0.65) EPS. On average, research analysts anticipate that Longboard Pharmaceuticals will post -2.19 EPS for the current year.

Insiders Place Their Bets

In other Longboard Pharmaceuticals news, CMO Randall Kaye sold 16,666 shares of the firm’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $31.64, for a total value of $527,312.24. Following the sale, the chief marketing officer now owns 17,920 shares of the company’s stock, valued at $566,988.80. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold a total of 50,000 shares of company stock valued at $2,090,010 in the last quarter. Insiders own 4.64% of the company’s stock.

Institutional Investors Weigh In On Longboard Pharmaceuticals

A number of large investors have recently added to or reduced their stakes in the company. RA Capital Management L.P. bought a new stake in shares of Longboard Pharmaceuticals during the 1st quarter valued at about $71,045,000. Farallon Capital Management LLC raised its holdings in Longboard Pharmaceuticals by 88.4% in the first quarter. Farallon Capital Management LLC now owns 2,940,500 shares of the company’s stock worth $63,515,000 after buying an additional 1,380,000 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in Longboard Pharmaceuticals by 36.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 2,217,995 shares of the company’s stock worth $47,910,000 after buying an additional 591,013 shares during the last quarter. Vanguard Group Inc. raised its holdings in Longboard Pharmaceuticals by 119.3% in the first quarter. Vanguard Group Inc. now owns 1,724,431 shares of the company’s stock worth $37,248,000 after buying an additional 937,998 shares during the last quarter. Finally, Integral Health Asset Management LLC raised its holdings in Longboard Pharmaceuticals by 12.8% in the second quarter. Integral Health Asset Management LLC now owns 1,100,000 shares of the company’s stock worth $29,733,000 after buying an additional 125,000 shares during the last quarter. Institutional investors own 63.28% of the company’s stock.

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.