Robert W. Baird Boosts Longboard Pharmaceuticals (NASDAQ:LBPH) Price Target to $60.00

Longboard Pharmaceuticals (NASDAQ:LBPH) had its target price hoisted by Robert W. Baird from $36.00 to $60.00 in a research note issued to investors on Thursday, Benzinga reports. Robert W. Baird currently has an outperform rating on the stock.

LBPH has been the subject of a number of other research reports. Wedbush boosted their price objective on shares of Longboard Pharmaceuticals from $32.00 to $34.00 and gave the company an outperform rating in a research report on Friday, May 3rd. B. Riley boosted their price objective on shares of Longboard Pharmaceuticals from $30.00 to $36.00 and gave the company a buy rating in a research report on Tuesday, June 11th. HC Wainwright reissued a buy rating and issued a $60.00 price objective on shares of Longboard Pharmaceuticals in a research report on Tuesday, June 11th. Evercore ISI boosted their price objective on shares of Longboard Pharmaceuticals from $57.00 to $80.00 and gave the company an outperform rating in a research report on Tuesday, July 2nd. Finally, Cantor Fitzgerald upped their price target on shares of Longboard Pharmaceuticals from $60.00 to $90.00 and gave the stock an overweight rating in a research report on Monday, July 1st. Eight analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Longboard Pharmaceuticals presently has an average rating of Buy and an average target price of $54.63.

Longboard Pharmaceuticals Trading Down 4.0 %

NASDAQ:LBPH opened at $36.83 on Thursday. The firm has a 50-day moving average price of $22.66 and a two-hundred day moving average price of $21.26. Longboard Pharmaceuticals has a twelve month low of $3.60 and a twelve month high of $40.48. The company has a market capitalization of $1.43 billion, a P/E ratio of -16.44 and a beta of 1.24.

Longboard Pharmaceuticals (NASDAQ:LBPH) last posted its earnings results on Thursday, May 2nd. The company reported ($0.42) earnings per share for the quarter, beating the consensus estimate of ($0.48) by $0.06. On average, equities research analysts predict that Longboard Pharmaceuticals will post -1.82 earnings per share for the current year.

Institutional Investors Weigh In On Longboard Pharmaceuticals

Several institutional investors have recently bought and sold shares of the business. Farallon Capital Management LLC grew its stake in Longboard Pharmaceuticals by 88.4% during 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 period. RA Capital Management L.P. purchased a new stake in Longboard Pharmaceuticals during the first quarter worth approximately $71,045,000. California State Teachers Retirement System grew its stake in Longboard Pharmaceuticals by 748.2% during the first quarter. California State Teachers Retirement System now owns 21,747 shares of the company’s stock worth $470,000 after buying an additional 19,183 shares during the period. AWM Investment Company Inc. purchased a new stake in Longboard Pharmaceuticals during the first quarter worth approximately $4,569,000. Finally, Price T Rowe Associates Inc. MD grew its stake in Longboard Pharmaceuticals by 36.3% during 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 period. 63.28% of the stock is currently owned by hedge funds and other institutional investors.

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.