Longboard Pharmaceuticals (NASDAQ:LBPH) Earns Outperform Rating from Analysts at Robert W. Baird

Robert W. Baird started coverage on shares of Longboard Pharmaceuticals (NASDAQ:LBPH) in a report published on Wednesday, MarketBeat Ratings reports. The firm issued an outperform rating and a $36.00 price objective on the stock.

A number of other equities analysts also recently weighed in on the company. Citigroup assumed coverage on Longboard Pharmaceuticals in a report on Friday, February 16th. They issued a buy rating and a $40.00 target price on the stock. HC Wainwright reiterated a buy rating and issued a $60.00 target price on shares of Longboard Pharmaceuticals in a research report on Tuesday, April 16th. Guggenheim boosted their price target on shares of Longboard Pharmaceuticals from $16.00 to $32.00 and gave the company a buy rating in a report on Tuesday, January 2nd. Cantor Fitzgerald reiterated an overweight rating and set a $60.00 price objective on shares of Longboard Pharmaceuticals in a report on Wednesday, April 10th. Finally, Wedbush restated an outperform rating and set a $32.00 price target on shares of Longboard Pharmaceuticals in a report on Wednesday, March 13th. Six analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has a consensus rating of Buy and a consensus target price of $43.33.

Longboard Pharmaceuticals Trading Up 3.1 %

NASDAQ LBPH opened at $21.96 on Wednesday. The firm’s 50 day moving average price is $20.05 and its two-hundred day moving average price is $14.76. Longboard Pharmaceuticals has a twelve month low of $3.60 and a twelve month high of $28.15.

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of LBPH. Bourgeon Capital Management LLC acquired a new position in shares of Longboard Pharmaceuticals in the 3rd quarter valued at $39,000. Denali Advisors LLC bought a new position in Longboard Pharmaceuticals during the first quarter worth about $201,000. TD Asset Management Inc grew its stake in shares of Longboard Pharmaceuticals by 149.8% in the 3rd quarter. TD Asset Management Inc now owns 121,422 shares of the company’s stock valued at $675,000 after purchasing an additional 72,811 shares during the period. Platinum Investment Management Ltd. bought a new stake in shares of Longboard Pharmaceuticals in the 4th quarter worth about $766,000. Finally, CIBC Asset Management Inc boosted its holdings in shares of Longboard Pharmaceuticals by 46.8% in the 4th quarter. CIBC Asset Management Inc now owns 212,178 shares of the company’s stock worth $1,279,000 after acquiring an additional 67,607 shares in the last quarter. 63.28% of the stock is 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.