Longboard Pharmaceuticals, Inc. (NASDAQ:LBPH) Given Consensus Recommendation of “Hold” by Brokerages

Longboard Pharmaceuticals, Inc. (NASDAQ:LBPH) has received a consensus rating of “Hold” from the nine analysts that are covering the company, MarketBeat.com reports. Five analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $59.56.

A number of equities analysts have issued reports on LBPH shares. Truist Financial reaffirmed a “hold” rating and set a $60.00 price target on shares of Longboard Pharmaceuticals in a research note on Tuesday, October 15th. B. Riley reaffirmed a “neutral” rating and set a $60.00 price target (up from $45.00) on shares of Longboard Pharmaceuticals in a research note on Monday, October 14th. Wedbush downgraded Longboard Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 14th. Evercore ISI reiterated an “outperform” rating and set a $80.00 price objective on shares of Longboard Pharmaceuticals in a research report on Monday, August 26th. Finally, Citigroup increased their price objective on Longboard Pharmaceuticals from $45.00 to $50.00 and gave the company a “buy” rating in a research report on Friday, August 2nd.

Insider Activity

In other news, CMO Randall Kaye sold 16,667 shares of the stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $59.03, for a total value of $983,853.01. Following the completion of the sale, the chief marketing officer now owns 17,920 shares in the company, valued at $1,057,817.60. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders sold 50,000 shares of company stock worth $2,090,010 over the last quarter. Corporate insiders own 4.64% of the company’s stock.

Institutional Trading of Longboard Pharmaceuticals

Hedge funds have recently modified their holdings of the business. Denali Advisors LLC purchased a new stake in shares of Longboard Pharmaceuticals during the first quarter worth $201,000. Jennison Associates LLC raised its holdings in shares of Longboard Pharmaceuticals by 96.0% during the first quarter. Jennison Associates LLC now owns 942,404 shares of the company’s stock worth $20,356,000 after acquiring an additional 461,576 shares in the last quarter. Quantbot Technologies LP purchased a new stake in shares of Longboard Pharmaceuticals during the first quarter worth $310,000. SG Americas Securities LLC purchased a new stake in shares of Longboard Pharmaceuticals during the first quarter worth $132,000. Finally, Swiss National Bank purchased a new stake in shares of Longboard Pharmaceuticals during the first quarter worth $914,000. Hedge funds and other institutional investors own 63.28% of the company’s stock.

Longboard Pharmaceuticals Stock Performance

Shares of NASDAQ LBPH opened at $59.69 on Monday. The stock has a fifty day moving average price of $41.68 and a two-hundred day moving average price of $31.82. The firm has a market cap of $2.32 billion, a P/E ratio of -27.76 and a beta of 1.06. Longboard Pharmaceuticals has a 1 year low of $3.60 and a 1 year high of $59.95.

Longboard Pharmaceuticals (NASDAQ:LBPH) last issued its quarterly earnings results 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 earned ($0.65) earnings per share. On average, research analysts predict that Longboard Pharmaceuticals will post -2.19 earnings per share for the current fiscal 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.