Cantor Fitzgerald restated their overweight rating on shares of Longboard Pharmaceuticals (NASDAQ:LBPH – Free Report) in a research report report published on Friday, Benzinga reports. The firm currently has a $60.00 price target on the stock.
LBPH has been the topic of a number of other reports. Citigroup initiated coverage on shares of Longboard Pharmaceuticals in a report on Friday, February 16th. They issued a buy rating and a $40.00 price target on the stock. HC Wainwright reiterated a buy rating and set a $60.00 price objective on shares of Longboard Pharmaceuticals in a research note on Tuesday, April 16th. Robert W. Baird assumed coverage on shares of Longboard Pharmaceuticals in a research note on Wednesday, May 1st. They issued an outperform rating and a $36.00 target price for the company. Finally, Wedbush increased their target price on shares of Longboard Pharmaceuticals from $32.00 to $34.00 and gave the stock an outperform rating in a research note on Friday. Six research analysts have rated the stock with a buy rating, According to MarketBeat.com, Longboard Pharmaceuticals presently has an average rating of Buy and an average price target of $43.67.
View Our Latest Report on Longboard Pharmaceuticals
Longboard Pharmaceuticals Trading Down 3.6 %
Longboard Pharmaceuticals (NASDAQ:LBPH – Get Free Report) last posted its 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). As a group, sell-side analysts predict that Longboard Pharmaceuticals will post -2.01 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Longboard Pharmaceuticals
Several hedge funds and other institutional investors have recently added to or reduced their stakes in LBPH. TD Asset Management Inc increased its stake in shares of Longboard Pharmaceuticals by 149.8% during the third quarter. TD Asset Management Inc now owns 121,422 shares of the company’s stock worth $675,000 after purchasing an additional 72,811 shares in the last quarter. Bourgeon Capital Management LLC purchased a new stake in Longboard Pharmaceuticals during the 3rd quarter worth approximately $39,000. Polar Capital Holdings Plc purchased a new stake in Longboard Pharmaceuticals during the 3rd quarter worth approximately $5,560,000. Jennison Associates LLC acquired a new position in shares of Longboard Pharmaceuticals during the fourth quarter valued at approximately $2,899,000. Finally, CIBC Asset Management Inc lifted its position in shares of Longboard Pharmaceuticals by 46.8% in the fourth quarter. CIBC Asset Management Inc now owns 212,178 shares of the company’s stock valued at $1,279,000 after acquiring an additional 67,607 shares in the last quarter. 63.28% of the stock is owned by hedge funds and other institutional investors.
About Longboard Pharmaceuticals
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.
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