Longboard Pharmaceuticals (NASDAQ:LBPH) Earns Hold Rating from Truist Financial

Truist Financial reaffirmed their hold rating on shares of Longboard Pharmaceuticals (NASDAQ:LBPH) in a research note issued to investors on Tuesday, Benzinga reports. Truist Financial currently has a $60.00 price target on the stock.

Several other brokerages also recently weighed in on LBPH. Robert W. Baird increased their price target on shares of Longboard Pharmaceuticals from $36.00 to $60.00 and gave the stock an “outperform” rating in a report on Thursday, July 11th. Cantor Fitzgerald reiterated a “neutral” rating on shares of Longboard Pharmaceuticals in a research note on Monday. Evercore ISI reissued an “outperform” rating and set a $80.00 target price on shares of Longboard Pharmaceuticals in a report on Monday, August 26th. B. Riley reaffirmed a “neutral” rating and issued a $60.00 price target (up from $45.00) on shares of Longboard Pharmaceuticals in a report on Monday. Finally, HC Wainwright lifted their price objective on Longboard Pharmaceuticals from $60.00 to $80.00 and gave the company a “buy” rating in a research note on Wednesday, September 18th. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, Longboard Pharmaceuticals has a consensus rating of “Hold” and a consensus price target of $59.56.

Longboard Pharmaceuticals Trading Down 0.4 %

NASDAQ:LBPH opened at $59.17 on Tuesday. The company has a market capitalization of $2.30 billion, a P/E ratio of -26.42 and a beta of 1.22. Longboard Pharmaceuticals has a 12 month low of $3.60 and a 12 month high of $59.47. The firm has a fifty day simple moving average of $36.31 and a 200-day simple moving average of $28.53.

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 period in the prior year, the business earned ($0.65) earnings per share. Equities analysts forecast that Longboard Pharmaceuticals will post -2.19 EPS for the current year.

Insiders Place Their Bets

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 value of $578,844.91. Following the completion of the sale, the chief marketing officer now directly owns 17,920 shares in the company, valued at $622,361.60. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Over the last 90 days, insiders have sold 50,000 shares of company stock worth $2,090,010. 4.64% of the stock is owned by corporate insiders.

Institutional Trading of Longboard Pharmaceuticals

Several institutional investors have recently modified their holdings of LBPH. Ameritas Investment Partners Inc. lifted its stake in Longboard Pharmaceuticals by 93.3% in the 1st quarter. Ameritas Investment Partners Inc. now owns 2,486 shares of the company’s stock valued at $54,000 after buying an additional 1,200 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in shares of Longboard Pharmaceuticals in the second quarter valued at approximately $127,000. SG Americas Securities LLC purchased a new position in shares of Longboard Pharmaceuticals in the first quarter valued at approximately $132,000. Arizona State Retirement System acquired a new stake in shares of Longboard Pharmaceuticals in the second quarter worth approximately $216,000. Finally, Denali Advisors LLC purchased a new stake in shares of Longboard Pharmaceuticals during the first quarter worth approximately $201,000. 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.