Longboard Pharmaceuticals (NASDAQ:LBPH) Trading Up 3.9%

Longboard Pharmaceuticals, Inc. (NASDAQ:LBPH) traded up 3.9% during trading on Wednesday . The stock traded as high as $35.06 and last traded at $34.92. 33,852 shares were traded during trading, a decline of 96% from the average session volume of 942,794 shares. The stock had previously closed at $33.60.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. B. Riley upped their target price on Longboard Pharmaceuticals from $30.00 to $36.00 and gave the company a “buy” rating in a report on Tuesday, June 11th. Citigroup upped their target price on Longboard Pharmaceuticals from $40.00 to $45.00 and gave the company a “buy” rating in a report on Tuesday, July 2nd. Cantor Fitzgerald upped their target price on Longboard Pharmaceuticals from $60.00 to $90.00 and gave the company an “overweight” rating in a report on Monday, July 1st. Wedbush increased their price objective on Longboard Pharmaceuticals from $32.00 to $34.00 and gave the stock an “outperform” rating in a research note on Friday, May 3rd. Finally, HC Wainwright reissued a “buy” rating and issued a $60.00 price objective on shares of Longboard Pharmaceuticals in a research note on Tuesday, June 11th. Eight investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $54.63.

Longboard Pharmaceuticals Trading Up 0.9 %

The firm has a market cap of $1.39 billion, a price-to-earnings ratio of -15.99 and a beta of 1.24. The stock has a fifty day moving average price of $25.45 and a 200 day moving average price of $22.54.

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

Institutional Trading of Longboard Pharmaceuticals

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. RA Capital Management L.P. acquired a new stake in Longboard Pharmaceuticals in the 1st quarter valued at approximately $71,045,000. Farallon Capital Management LLC grew its holdings in Longboard Pharmaceuticals by 88.4% in the 1st quarter. Farallon Capital Management LLC now owns 2,940,500 shares of the company’s stock valued at $63,515,000 after buying an additional 1,380,000 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in Longboard Pharmaceuticals by 36.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,217,995 shares of the company’s stock valued at $47,910,000 after buying an additional 591,013 shares during the last quarter. Vanguard Group Inc. grew its holdings in Longboard Pharmaceuticals by 119.3% in the 1st quarter. Vanguard Group Inc. now owns 1,724,431 shares of the company’s stock valued at $37,248,000 after buying an additional 937,998 shares during the last quarter. Finally, Jennison Associates LLC grew its holdings in Longboard Pharmaceuticals by 96.0% in the 1st quarter. Jennison Associates LLC now owns 942,404 shares of the company’s stock valued at $20,356,000 after buying an additional 461,576 shares during the last quarter. Institutional investors and hedge funds own 63.28% of the company’s stock.

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.