Longboard Pharmaceuticals (NASDAQ:LBPH) Stock Price Up 4.3% – Should You Buy?

Longboard Pharmaceuticals, Inc. (NASDAQ:LBPH) rose 4.3% during trading on Thursday . The company traded as high as $34.88 and last traded at $34.81. Approximately 149,437 shares were traded during trading, a decline of 83% from the average daily volume of 856,770 shares. The stock had previously closed at $33.36.

Wall Street Analyst Weigh In

LBPH has been the topic of a number of recent research reports. B. Riley boosted their target price on shares of Longboard Pharmaceuticals from $36.00 to $45.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. Robert W. Baird boosted their target price on shares of Longboard Pharmaceuticals from $36.00 to $60.00 and gave the stock an “outperform” rating in a research report on Thursday, July 11th. HC Wainwright boosted their target price on shares of Longboard Pharmaceuticals from $60.00 to $80.00 and gave the stock a “buy” rating in a research report on Wednesday, September 18th. Evercore ISI reaffirmed an “outperform” rating and issued a $80.00 price target on shares of Longboard Pharmaceuticals in a report on Monday, August 26th. Finally, Truist Financial initiated coverage on shares of Longboard Pharmaceuticals in a report on Tuesday, September 10th. They issued a “buy” rating and a $60.00 price target on the stock. Nine analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $60.11.

Longboard Pharmaceuticals Trading Up 13.2 %

The stock’s 50-day moving average is $34.40 and its 200-day moving average is $27.47. The stock has a market cap of $1.51 billion, a P/E ratio of -17.37 and a beta of 1.22.

Longboard Pharmaceuticals (NASDAQ:LBPH) last posted its quarterly earnings data 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 quarter in the prior year, the firm earned ($0.65) EPS. On average, equities analysts forecast that Longboard Pharmaceuticals, Inc. will post -2.19 EPS for the current year.

Insider Activity

In other news, CMO Randall Kaye sold 16,666 shares of the company’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $31.64, for a total value of $527,312.24. Following the transaction, the chief marketing officer now owns 17,920 shares in the company, valued at $566,988.80. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 4.64% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Longboard Pharmaceuticals

A number of hedge funds have recently added to or reduced their stakes in LBPH. Denali Advisors LLC acquired a new position in Longboard Pharmaceuticals in the first quarter worth approximately $201,000. Jennison Associates LLC increased its holdings in Longboard Pharmaceuticals by 96.0% in the first quarter. Jennison Associates LLC now owns 942,404 shares of the company’s stock worth $20,356,000 after buying an additional 461,576 shares during the last quarter. Quantbot Technologies LP acquired a new position in Longboard Pharmaceuticals in the first quarter worth approximately $310,000. SG Americas Securities LLC acquired a new position in Longboard Pharmaceuticals in the first quarter worth approximately $132,000. Finally, Swiss National Bank acquired a new position in Longboard Pharmaceuticals in the first quarter worth approximately $914,000. Institutional investors and hedge funds own 63.28% of the company’s stock.

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.