Longboard Pharmaceuticals (NASDAQ:LBPH) Receives Neutral Rating from Cantor Fitzgerald

Cantor Fitzgerald restated their neutral rating on shares of Longboard Pharmaceuticals (NASDAQ:LBPH) in a research report report published on Monday morning, Benzinga reports.

Several other brokerages have also commented on LBPH. Truist Financial began coverage on shares of Longboard Pharmaceuticals in a research report on Tuesday, September 10th. They issued a buy rating and a $60.00 price objective on the stock. Wedbush upped their price objective on Longboard Pharmaceuticals from $40.00 to $44.00 and gave the company an outperform rating in a research note on Tuesday, September 17th. B. Riley raised their target price on 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 upped their price target on Longboard Pharmaceuticals from $36.00 to $60.00 and gave the company an outperform rating in a research report on Thursday, July 11th. Finally, Evercore ISI reissued an outperform rating and issued a $80.00 price objective on shares of Longboard Pharmaceuticals in a report on Monday, August 26th. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, Longboard Pharmaceuticals has a consensus rating of Moderate Buy and a consensus price target of $61.78.

Longboard Pharmaceuticals Stock Up 51.6 %

LBPH stock opened at $58.99 on Monday. The firm has a market cap of $2.29 billion, a PE ratio of -26.33 and a beta of 1.22. The business has a 50 day moving average of $34.89 and a 200-day moving average of $27.83. Longboard Pharmaceuticals has a 12-month low of $3.60 and a 12-month high of $59.12.

Longboard Pharmaceuticals (NASDAQ:LBPH) last announced its quarterly earnings data on Thursday, August 1st. The company reported ($0.56) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.46) by ($0.10). During the same quarter in the previous year, the company posted ($0.65) earnings per share. On average, research analysts expect that Longboard Pharmaceuticals will post -2.19 earnings per share for the current year.

Insider Buying and Selling at Longboard Pharmaceuticals

In other news, CMO Randall Kaye sold 16,667 shares of the stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $34.73, for a total value of $578,844.91. Following the sale, the chief marketing officer now directly owns 17,920 shares of the company’s stock, valued at approximately $622,361.60. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 4.64% of the company’s stock.

Hedge Funds Weigh In On Longboard Pharmaceuticals

Several hedge funds and other institutional investors have recently added to or reduced their stakes in LBPH. Denali Advisors LLC purchased a new position in shares of Longboard Pharmaceuticals during the first quarter worth about $201,000. Jennison Associates LLC lifted its position in Longboard Pharmaceuticals by 96.0% during the first quarter. Jennison Associates LLC now owns 942,404 shares of the company’s stock valued at $20,356,000 after purchasing an additional 461,576 shares during the last quarter. Quantbot Technologies LP purchased a new position in Longboard Pharmaceuticals in the 1st quarter worth approximately $310,000. SG Americas Securities LLC bought a new position in shares of Longboard Pharmaceuticals in the 1st quarter worth $132,000. Finally, Swiss National Bank purchased a new stake in shares of Longboard Pharmaceuticals during the 1st quarter valued at $914,000. 63.28% of the stock is currently owned by hedge funds and other institutional investors.

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.