Analysts Set Longboard Pharmaceuticals, Inc. (NASDAQ:LBPH) PT at $39.50

Shares of Longboard Pharmaceuticals, Inc. (NASDAQ:LBPH) have earned a consensus rating of “Buy” from the six research firms that are presently covering the stock, Marketbeat reports. Six analysts have rated the stock with a buy rating. The average 1 year target price among brokers that have issued a report on the stock in the last year is $39.50.

Several analysts have recently weighed in on the company. Citigroup assumed coverage on Longboard Pharmaceuticals in a report on Friday, February 16th. They set a “buy” rating and a $40.00 price target on the stock. Guggenheim boosted their price target on Longboard Pharmaceuticals from $16.00 to $32.00 and gave the stock a “buy” rating in a report on Tuesday, January 2nd. Cantor Fitzgerald restated an “overweight” rating and set a $60.00 price target on shares of Longboard Pharmaceuticals in a report on Wednesday, April 10th. Wedbush restated an “outperform” rating and set a $32.00 price target on shares of Longboard Pharmaceuticals in a report on Wednesday, March 13th. Finally, HC Wainwright restated a “buy” rating and set a $60.00 price target on shares of Longboard Pharmaceuticals in a report on Tuesday.

Longboard Pharmaceuticals Trading Down 6.8 %

Shares of NASDAQ LBPH opened at $17.00 on Thursday. The company has a market cap of $612.29 million, a price-to-earnings ratio of -7.14 and a beta of 1.24. Longboard Pharmaceuticals has a 12 month low of $3.60 and a 12 month high of $28.15. The stock has a 50-day moving average price of $20.23 and a two-hundred day moving average price of $13.78.

Longboard Pharmaceuticals (NASDAQ:LBPH) last issued its earnings results on Tuesday, March 12th. The company reported ($0.62) EPS for the quarter, missing the consensus estimate of ($0.60) by ($0.02). On average, sell-side analysts predict that Longboard Pharmaceuticals will post -2.01 earnings per share for the current year.

Insider Activity at Longboard Pharmaceuticals

In related news, major shareholder Arena Pharmaceuticals Inc sold 3,978,540 shares of the company’s stock in a transaction that occurred on Thursday, January 25th. The stock was sold at an average price of $24.25, for a total value of $96,479,595.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 5.57% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Longboard Pharmaceuticals

A number of institutional investors and hedge funds have recently modified their holdings of the business. FMR LLC boosted its holdings in shares of Longboard Pharmaceuticals by 162.5% during the 1st quarter. FMR LLC now owns 2,900,392 shares of the company’s stock worth $11,399,000 after buying an additional 1,795,488 shares in the last quarter. Polar Capital Holdings Plc bought a new position in shares of Longboard Pharmaceuticals during the 3rd quarter worth approximately $5,560,000. Vanguard Group Inc. boosted its holdings in shares of Longboard Pharmaceuticals by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 786,433 shares of the company’s stock worth $4,742,000 after buying an additional 5,360 shares in the last quarter. BlackRock Inc. boosted its holdings in shares of Longboard Pharmaceuticals by 2,451.9% during the 2nd quarter. BlackRock Inc. now owns 740,603 shares of the company’s stock worth $5,436,000 after buying an additional 711,581 shares in the last quarter. Finally, JPMorgan Chase & Co. bought a new position in shares of Longboard Pharmaceuticals during the 2nd quarter worth approximately $4,164,000. 63.28% of the stock is currently owned by 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.