Longboard Pharmaceuticals, Inc. (NASDAQ:LBPH) CMO Sells $527,312.24 in Stock

Longboard Pharmaceuticals, Inc. (NASDAQ:LBPH) CMO Randall Kaye sold 16,666 shares of Longboard Pharmaceuticals stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $31.64, for a total transaction of $527,312.24. Following the sale, the chief marketing officer now owns 17,920 shares of the company’s stock, valued at $566,988.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Randall Kaye also recently made the following trade(s):

• On Monday, August 12th, Randall Kaye sold 16,667 shares of Longboard Pharmaceuticals stock. The shares were sold at an average price of $34.73, for a total transaction of $578,844.91.
• On Tuesday, June 25th, Randall Kaye sold 100 shares of Longboard Pharmaceuticals stock. The shares were sold at an average price of $20.87, for a total transaction of $2,087.00.

Longboard Pharmaceuticals Price Performance

LBPH stock opened at $29.31 on Thursday. The company has a fifty day moving average price of $34.96 and a 200 day moving average price of $25.84. Longboard Pharmaceuticals, Inc. has a 12 month low of $3.60 and a 12 month high of $40.48. The company has a market cap of $1.14 billion, a price-to-earnings ratio of -13.08 and a beta of 1.24.

Longboard Pharmaceuticals (NASDAQ:LBPH) last released its quarterly earnings results on Thursday, August 1st. The company reported ($0.56) EPS for the quarter, missing the consensus estimate of ($0.46) by ($0.10). During the same quarter in the previous year, the firm posted ($0.65) EPS. As a group, analysts anticipate that Longboard Pharmaceuticals, Inc. will post -2.13 earnings per share for the current year.

Wall Street Analysts Forecast Growth

LBPH has been the subject of a number of research reports. Cantor Fitzgerald restated an “overweight” rating and issued a $90.00 price objective on shares of Longboard Pharmaceuticals in a report on Monday. Wedbush lifted their price target on shares of Longboard Pharmaceuticals from $40.00 to $44.00 and gave the stock an “outperform” rating in a research note on Tuesday. Evercore ISI reiterated an “outperform” rating and issued a $80.00 price target on shares of Longboard Pharmaceuticals in a research note on Monday, August 26th. Truist Financial started coverage on shares of Longboard Pharmaceuticals in a research report on Tuesday, September 10th. They set a “buy” rating and a $60.00 price objective for the company. Finally, Robert W. Baird boosted their price objective 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. Nine equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $60.11.

Institutional Trading of Longboard Pharmaceuticals

Several institutional investors and hedge funds have recently bought and sold shares of the business. RA Capital Management L.P. purchased a new stake in Longboard Pharmaceuticals in the 1st quarter valued at $71,045,000. Farallon Capital Management LLC raised its position 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 purchasing an additional 1,380,000 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position 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 purchasing an additional 591,013 shares during the last quarter. Vanguard Group Inc. raised its position 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 purchasing an additional 937,998 shares during the last quarter. Finally, Integral Health Asset Management LLC raised its position in Longboard Pharmaceuticals by 12.8% in the 2nd quarter. Integral Health Asset Management LLC now owns 1,100,000 shares of the company’s stock valued at $29,733,000 after purchasing an additional 125,000 shares during the last quarter. Hedge funds and other institutional investors 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.