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

Longboard Pharmaceuticals (NASDAQ:LBPH) had its price target upped by HC Wainwright from $60.00 to $80.00 in a report released on Wednesday, Benzinga reports. The firm 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.

LBPH has been the subject of a number of other research reports. 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 research note on Thursday, July 11th. B. Riley increased their target price on shares of Longboard Pharmaceuticals from $36.00 to $45.00 and gave the stock a buy rating in a research note on Monday, August 5th. Cantor Fitzgerald restated an overweight rating and issued a $90.00 price target on shares of Longboard Pharmaceuticals in a research report on Monday, September 16th. Citigroup increased their price objective on Longboard Pharmaceuticals from $45.00 to $50.00 and gave the stock a buy rating in a research report on Friday, August 2nd. Finally, Truist Financial began coverage on Longboard Pharmaceuticals in a report on Tuesday, September 10th. They issued a buy rating and a $60.00 target price on the stock. Nine investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Longboard Pharmaceuticals has a consensus rating of Buy and a consensus target price of $60.11.

Longboard Pharmaceuticals Stock Performance

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

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

Insider Activity at Longboard Pharmaceuticals

In other Longboard Pharmaceuticals news, CMO Randall Kaye sold 16,666 shares of the stock in a transaction on Monday, September 16th. The stock was sold at an average price of $31.64, for a total value of $527,312.24. Following the completion of the transaction, the chief marketing officer now owns 17,920 shares in the company, valued at $566,988.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold a total of 33,433 shares of company stock worth $1,108,244 over the last three months. 4.64% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Longboard Pharmaceuticals

Hedge funds and other institutional investors have recently modified their holdings of the stock. Ameritas Investment Partners Inc. grew its holdings in shares of Longboard Pharmaceuticals by 93.3% in 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 during the period. Squarepoint Ops LLC boosted its position in Longboard Pharmaceuticals by 30.4% during the second quarter. Squarepoint Ops LLC now owns 13,972 shares of the company’s stock worth $378,000 after purchasing an additional 3,260 shares in the last quarter. American International Group Inc. grew its holdings in Longboard Pharmaceuticals by 58.6% in the first quarter. American International Group Inc. now owns 12,283 shares of the company’s stock valued at $265,000 after purchasing an additional 4,540 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in shares of Longboard Pharmaceuticals in the second quarter valued at $127,000. Finally, SG Americas Securities LLC purchased a new position in shares of Longboard Pharmaceuticals in the first quarter valued at $132,000. 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.