Longboard Pharmaceuticals (NASDAQ:LBPH) PT Raised to $44.00

Longboard Pharmaceuticals (NASDAQ:LBPH) had its price target boosted by Wedbush from $40.00 to $44.00 in a research note published on Tuesday, Benzinga reports. The brokerage currently has an outperform rating on the stock. Wedbush also issued estimates for Longboard Pharmaceuticals’ FY2027 earnings at ($3.15) EPS and FY2028 earnings at ($0.68) EPS.

Other analysts also recently issued research reports about the company. B. Riley lifted their target price on Longboard Pharmaceuticals from $36.00 to $45.00 and gave the company a buy rating in a research report on Monday, August 5th. Robert W. Baird upped their price objective on Longboard Pharmaceuticals from $36.00 to $60.00 and gave the stock an outperform rating in a research note on Thursday, July 11th. Truist Financial started coverage on shares of Longboard Pharmaceuticals in a research note on Tuesday, September 10th. They issued a buy rating and a $60.00 target price for the company. Cantor Fitzgerald reaffirmed an overweight rating and set a $90.00 price target on shares of Longboard Pharmaceuticals in a research report on Monday. Finally, Citigroup boosted their price objective on shares of Longboard Pharmaceuticals from $45.00 to $50.00 and gave the stock a buy rating in a research note on Friday, August 2nd. Nine analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has an average rating of Buy and a consensus target price of $60.11.

Longboard Pharmaceuticals Stock Performance

NASDAQ LBPH opened at $33.40 on Tuesday. Longboard Pharmaceuticals has a 52 week low of $3.60 and a 52 week high of $40.48. The stock’s 50 day moving average price is $34.96 and its two-hundred day moving average price is $25.84. The stock has a market capitalization of $1.30 billion, a price-to-earnings ratio of -14.91 and a beta of 1.24.

Longboard Pharmaceuticals (NASDAQ:LBPH) last announced its earnings results on Thursday, August 1st. The company reported ($0.56) EPS for the quarter, missing the consensus estimate of ($0.46) by ($0.10). During the same period last year, the business posted ($0.65) EPS. On average, equities research analysts forecast that Longboard Pharmaceuticals will post -2.13 EPS for the current year.

Insider Activity at Longboard Pharmaceuticals

In other 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 transaction 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 filing with the SEC, which is available at this hyperlink. In the last 90 days, insiders have sold 33,433 shares of company stock worth $1,108,244. Insiders own 4.64% of the company’s stock.

Institutional Trading of Longboard Pharmaceuticals

Several institutional investors have recently added to or reduced their stakes in LBPH. RA Capital Management L.P. bought a new position in Longboard Pharmaceuticals during the 1st quarter worth $71,045,000. Farallon Capital Management LLC raised its stake in Longboard Pharmaceuticals by 88.4% in the 1st quarter. Farallon Capital Management LLC now owns 2,940,500 shares of the company’s stock worth $63,515,000 after purchasing an additional 1,380,000 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Longboard Pharmaceuticals by 119.3% in the 1st quarter. Vanguard Group Inc. now owns 1,724,431 shares of the company’s stock valued at $37,248,000 after purchasing an additional 937,998 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in Longboard Pharmaceuticals by 36.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,217,995 shares of the company’s stock valued at $47,910,000 after purchasing an additional 591,013 shares during the period. Finally, Lord Abbett & CO. LLC acquired a new position in shares of Longboard Pharmaceuticals during the 1st quarter worth approximately $10,264,000. 63.28% of the stock is currently owned by institutional investors.

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.