Longboard Pharmaceuticals, Inc. (NASDAQ:LBPH – Get Free Report) 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.
Read Our Latest Stock Analysis on LBPH
Insider Activity
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 – Get Free Report) 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.
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