Longboard Pharmaceuticals, Inc. (NASDAQ:LBPH) Given Average Recommendation of “Buy” by Brokerages

Shares of Longboard Pharmaceuticals, Inc. (NASDAQ:LBPH) have received a consensus rating of “Buy” from the eight brokerages that are covering the stock, Marketbeat reports. Eight investment analysts have rated the stock with a buy recommendation. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $44.38.

LBPH has been the topic of a number of research reports. Evercore ISI increased their price target on Longboard Pharmaceuticals from $44.00 to $57.00 and gave the stock an “outperform” rating in a research report on Thursday, June 20th. Robert W. Baird started coverage on Longboard Pharmaceuticals in a research report on Wednesday, May 1st. They set an “outperform” rating and a $36.00 price target on the stock. HC Wainwright restated a “buy” rating and issued a $60.00 target price on shares of Longboard Pharmaceuticals in a research report on Tuesday, June 11th. B. Riley raised their target price on Longboard Pharmaceuticals from $30.00 to $36.00 and gave the company a “buy” rating in a research report on Tuesday, June 11th. Finally, Wedbush raised their target price on Longboard Pharmaceuticals from $32.00 to $34.00 and gave the company an “outperform” rating in a research report on Friday, May 3rd.

Institutional Trading of Longboard Pharmaceuticals

Several hedge funds and other institutional investors have recently modified their holdings of LBPH. Polar Capital Holdings Plc acquired a new stake in shares of Longboard Pharmaceuticals in the third quarter worth $5,560,000. Jennison Associates LLC purchased a new stake in shares of Longboard Pharmaceuticals during the fourth quarter worth $2,899,000. CIBC Asset Management Inc raised its holdings in shares of Longboard Pharmaceuticals by 46.8% during the fourth quarter. CIBC Asset Management Inc now owns 212,178 shares of the company’s stock worth $1,279,000 after acquiring an additional 67,607 shares in the last quarter. Platinum Investment Management Ltd. purchased a new stake in shares of Longboard Pharmaceuticals during the fourth quarter worth $766,000. Finally, Parkman Healthcare Partners LLC raised its holdings in shares of Longboard Pharmaceuticals by 20.8% during the fourth quarter. Parkman Healthcare Partners LLC now owns 429,892 shares of the company’s stock worth $2,592,000 after acquiring an additional 73,935 shares in the last quarter. Institutional investors and hedge funds own 63.28% of the company’s stock.

Longboard Pharmaceuticals Price Performance

Shares of NASDAQ LBPH opened at $27.03 on Tuesday. Longboard Pharmaceuticals has a 1-year low of $3.60 and a 1-year high of $28.15. The business has a 50-day moving average of $20.02 and a 200-day moving average of $19.27. The company has a market capitalization of $1.05 billion, a price-to-earnings ratio of -12.07 and a beta of 1.15.

Longboard Pharmaceuticals (NASDAQ:LBPH) last issued its quarterly earnings results on Thursday, May 2nd. The company reported ($0.42) EPS for the quarter, beating analysts’ consensus estimates of ($0.48) by $0.06. Research analysts expect that Longboard Pharmaceuticals will post -1.82 EPS for the current fiscal year.

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.