PFM Health Sciences LP Acquires Shares of 113,711 Longboard Pharmaceuticals, Inc. (NASDAQ:LBPH)

PFM Health Sciences LP bought a new position in shares of Longboard Pharmaceuticals, Inc. (NASDAQ:LBPH) during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund bought 113,711 shares of the company’s stock, valued at approximately $3,790,000. PFM Health Sciences LP owned 0.29% of Longboard Pharmaceuticals at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. KBC Group NV purchased a new stake in shares of Longboard Pharmaceuticals in the third quarter valued at approximately $65,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in shares of Longboard Pharmaceuticals during the 2nd quarter worth $127,000. Arizona State Retirement System acquired a new position in shares of Longboard Pharmaceuticals during the 2nd quarter worth $216,000. Mesirow Financial Investment Management Inc. acquired a new position in shares of Longboard Pharmaceuticals during the 3rd quarter worth $221,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Longboard Pharmaceuticals by 64.2% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,744 shares of the company’s stock valued at $258,000 after purchasing an additional 3,028 shares in the last quarter. 63.28% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Longboard Pharmaceuticals

In other news, CMO Randall Kaye sold 16,667 shares of the firm’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $59.03, for a total transaction of $983,853.01. Following the sale, the chief marketing officer now owns 17,920 shares in the company, valued at $1,057,817.60. This trade represents a 48.19 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 4.64% of the company’s stock.

Analyst Upgrades and Downgrades

LBPH has been the topic of several recent analyst reports. HC Wainwright restated a “neutral” rating and set a $60.00 target price (down from $80.00) on shares of Longboard Pharmaceuticals in a research report on Tuesday, October 15th. Wedbush cut Longboard Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a report on Monday, October 14th. B. Riley reaffirmed a “neutral” rating and set a $60.00 price objective (up from $45.00) on shares of Longboard Pharmaceuticals in a report on Monday, October 14th. Cantor Fitzgerald reissued a “neutral” rating on shares of Longboard Pharmaceuticals in a report on Monday, October 14th. Finally, Evercore ISI restated an “outperform” rating and issued a $80.00 price target on shares of Longboard Pharmaceuticals in a research report on Monday, August 26th. Five investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $59.56.

Longboard Pharmaceuticals Stock Up 0.0 %

NASDAQ LBPH opened at $59.98 on Friday. Longboard Pharmaceuticals, Inc. has a fifty-two week low of $3.60 and a fifty-two week high of $60.03. The business has a fifty day moving average of $52.01 and a 200-day moving average of $37.13. The stock has a market cap of $2.34 billion, a price-to-earnings ratio of -26.90 and a beta of 1.07.

Longboard Pharmaceuticals (NASDAQ:LBPH) last posted its quarterly earnings data on Thursday, November 7th. The company reported ($0.63) EPS for the quarter, missing analysts’ consensus estimates of ($0.59) by ($0.04). As a group, analysts anticipate that Longboard Pharmaceuticals, Inc. will post -2.22 EPS for the current year.

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.