Longboard Pharmaceuticals’ (LBPH) Buy Rating Reiterated at HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Longboard Pharmaceuticals (NASDAQ:LBPH) in a research report released on Thursday morning, Benzinga reports. They currently have a $60.00 price target on the stock.

Several other brokerages also recently commented on LBPH. Cantor Fitzgerald boosted their price objective on shares of Longboard Pharmaceuticals from $60.00 to $90.00 and gave the company an overweight rating in a research report on Monday, July 1st. 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. Wedbush boosted their target price on shares of Longboard Pharmaceuticals from $32.00 to $34.00 and gave the stock an outperform rating in a research note on Friday, May 3rd. Citigroup upped their price target on shares of Longboard Pharmaceuticals from $40.00 to $45.00 and gave the stock a buy rating in a report on Tuesday, July 2nd. Finally, B. Riley upped their price target on shares of Longboard Pharmaceuticals from $30.00 to $36.00 and gave the stock a buy rating in a report on Tuesday, June 11th. Eight research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has an average rating of Buy and a consensus price target of $56.00.

Longboard Pharmaceuticals Trading Down 0.2 %

Shares of NASDAQ:LBPH traded down $0.07 during trading on Thursday, reaching $32.85. 831,842 shares of the stock were exchanged, compared to its average volume of 717,293. Longboard Pharmaceuticals has a 12 month low of $3.60 and a 12 month high of $40.48. The firm has a market cap of $1.28 billion, a PE ratio of -14.67 and a beta of 1.24. The stock has a 50-day moving average price of $27.16 and a 200-day moving average price of $22.98.

Longboard Pharmaceuticals (NASDAQ:LBPH) last announced its quarterly earnings data on Thursday, May 2nd. The company reported ($0.42) EPS for the quarter, beating the consensus estimate of ($0.48) by $0.06. On average, sell-side analysts expect that Longboard Pharmaceuticals will post -1.82 earnings per share for the current fiscal year.

Institutional Trading of Longboard Pharmaceuticals

A number of institutional investors and hedge funds have recently bought and sold shares of LBPH. Jennison Associates LLC acquired a new stake in Longboard Pharmaceuticals in the fourth quarter valued at $2,899,000. CIBC Asset Management Inc increased its holdings in Longboard Pharmaceuticals by 46.8% in the fourth quarter. CIBC Asset Management Inc now owns 212,178 shares of the company’s stock valued at $1,279,000 after purchasing an additional 67,607 shares during the period. Platinum Investment Management Ltd. acquired a new stake in Longboard Pharmaceuticals in the fourth quarter valued at $766,000. Parkman Healthcare Partners LLC increased its holdings in Longboard Pharmaceuticals by 20.8% in the fourth quarter. Parkman Healthcare Partners LLC now owns 429,892 shares of the company’s stock valued at $2,592,000 after purchasing an additional 73,935 shares during the period. Finally, Denali Advisors LLC acquired a new stake in Longboard Pharmaceuticals in the first quarter valued at $201,000. 63.28% of the stock is currently owned by institutional investors and hedge funds.

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.