HC Wainwright Boosts Longboard Pharmaceuticals (NASDAQ:LBPH) Price Target to $80.00

Longboard Pharmaceuticals (NASDAQ:LBPH) had its price objective upped by HC Wainwright from $60.00 to $80.00 in a research note issued to investors on Wednesday morning, Benzinga reports. HC Wainwright currently has a buy rating on the stock. HC Wainwright also issued estimates for Longboard Pharmaceuticals’ Q3 2024 earnings at ($0.61) EPS, Q4 2024 earnings at ($0.65) EPS, FY2024 earnings at ($2.27) EPS, Q1 2025 earnings at ($0.71) EPS, Q2 2025 earnings at ($0.76) EPS, Q3 2025 earnings at ($0.80) EPS, Q4 2025 earnings at ($0.77) EPS, FY2025 earnings at ($3.04) EPS, FY2026 earnings at ($3.18) EPS, FY2027 earnings at ($2.04) EPS and FY2028 earnings at $0.23 EPS.

A number of other research analysts also recently commented on LBPH. B. Riley increased their target price on Longboard Pharmaceuticals from $36.00 to $45.00 and gave the stock a buy rating in a report on Monday, August 5th. Wedbush increased their target price on Longboard Pharmaceuticals from $40.00 to $44.00 and gave the stock an outperform rating in a report on Tuesday. Evercore ISI reissued an outperform rating and issued a $80.00 price target on shares of Longboard Pharmaceuticals in a report on Monday, August 26th. Robert W. Baird raised their price target on Longboard Pharmaceuticals from $36.00 to $60.00 and gave the stock an outperform rating in a report on Thursday, July 11th. Finally, Cantor Fitzgerald reissued an overweight rating and issued a $90.00 price target on shares of Longboard Pharmaceuticals in a report on Monday, September 16th. Nine equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of Buy and a consensus target price of $60.11.

Longboard Pharmaceuticals Stock Performance

LBPH stock opened at $33.89 on Wednesday. The firm has a market cap of $1.32 billion, a P/E ratio of -15.13 and a beta of 1.24. Longboard Pharmaceuticals has a 1 year low of $3.60 and a 1 year high of $40.48. The stock has a 50-day simple moving average of $34.80 and a 200-day simple moving average of $25.98.

Longboard Pharmaceuticals (NASDAQ:LBPH) last issued its quarterly earnings results on Thursday, August 1st. The company reported ($0.56) EPS for the quarter, missing analysts’ consensus estimates of ($0.46) by ($0.10). During the same quarter in the previous year, the firm earned ($0.65) earnings per share. On average, equities research analysts predict that Longboard Pharmaceuticals will post -2.13 EPS for the current year.

Insider Activity

In other news, CMO Randall Kaye sold 16,667 shares of Longboard Pharmaceuticals stock in a transaction 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 transaction, the chief marketing officer now directly owns 17,920 shares in the company, valued at approximately $622,361.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In the last ninety days, insiders have sold 33,433 shares of company stock worth $1,108,244. 4.64% of the stock is owned by company insiders.

Institutional Investors Weigh In On Longboard Pharmaceuticals

Large investors have recently modified their holdings of the stock. Ameritas Investment Partners Inc. boosted its stake in shares of Longboard Pharmaceuticals by 93.3% during the 1st quarter. Ameritas Investment Partners Inc. now owns 2,486 shares of the company’s stock worth $54,000 after acquiring an additional 1,200 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in shares of Longboard Pharmaceuticals during the 2nd quarter worth $127,000. SG Americas Securities LLC bought a new stake in shares of Longboard Pharmaceuticals during the 1st quarter worth $132,000. Denali Advisors LLC bought a new stake in shares of Longboard Pharmaceuticals during the 1st quarter worth $201,000. Finally, Arizona State Retirement System acquired a new stake in shares of Longboard Pharmaceuticals in the second quarter worth $216,000. 63.28% of the stock is 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.