Longboard Pharmaceuticals (NASDAQ:LBPH) Now Covered by Analysts at Robert W. Baird

Robert W. Baird began coverage on shares of Longboard Pharmaceuticals (NASDAQ:LBPH) in a research note issued to investors on Wednesday, Briefing.com reports. The brokerage set an “outperform” rating and a $36.00 price target on the stock. Robert W. Baird’s target price points to a potential upside of 69.01% from the stock’s current price.

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

Longboard Pharmaceuticals Price Performance

Longboard Pharmaceuticals stock opened at $21.30 on Wednesday. The stock has a market cap of $767.23 million, a price-to-earnings ratio of -8.95 and a beta of 1.24. The firm has a 50 day simple moving average of $20.05 and a 200-day simple moving average of $14.76. Longboard Pharmaceuticals has a 1-year low of $3.60 and a 1-year high of $28.15.

Longboard Pharmaceuticals (NASDAQ:LBPH) last posted its earnings results on Tuesday, March 12th. The company reported ($0.62) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.60) by ($0.02). Equities analysts expect that Longboard Pharmaceuticals will post -2.01 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Longboard Pharmaceuticals

Several large investors have recently added to or reduced their stakes in the business. Bourgeon Capital Management LLC purchased a new position in Longboard Pharmaceuticals in the 3rd quarter valued at approximately $39,000. Denali Advisors LLC acquired a new stake in shares of Longboard Pharmaceuticals in the first quarter valued at $201,000. TD Asset Management Inc boosted its holdings in Longboard Pharmaceuticals by 149.8% in the third 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. acquired a new position in Longboard Pharmaceuticals during the 4th quarter worth $766,000. Finally, CIBC Asset Management Inc increased its holdings in Longboard Pharmaceuticals by 46.8% during the 4th quarter. CIBC Asset Management Inc now owns 212,178 shares of the company’s stock worth $1,279,000 after purchasing an additional 67,607 shares during the period. 63.28% of the stock is owned by hedge funds and other 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.