Longboard Pharmaceuticals, Inc. (NASDAQ:LBPH) Forecasted to Post Q2 2024 Earnings of ($0.48) Per Share

Longboard Pharmaceuticals, Inc. (NASDAQ:LBPH) – Investment analysts at B. Riley decreased their Q2 2024 earnings per share estimates for shares of Longboard Pharmaceuticals in a research note issued to investors on Monday, June 10th. B. Riley analyst K. Patel now anticipates that the company will earn ($0.48) per share for the quarter, down from their previous estimate of ($0.46). B. Riley has a “Buy” rating and a $36.00 price target on the stock. The consensus estimate for Longboard Pharmaceuticals’ current full-year earnings is ($1.82) per share. B. Riley also issued estimates for Longboard Pharmaceuticals’ Q4 2024 earnings at ($0.51) EPS, FY2024 earnings at ($1.92) EPS, FY2026 earnings at ($2.79) EPS, FY2027 earnings at ($3.08) EPS and FY2028 earnings at ($3.13) EPS.

Several other brokerages also recently issued reports on LBPH. HC Wainwright reiterated a “buy” rating and issued a $60.00 price target on shares of Longboard Pharmaceuticals in a report on Tuesday. Citigroup started coverage on Longboard Pharmaceuticals in a report on Friday, February 16th. They issued a “buy” rating and a $40.00 price target for the company. Cantor Fitzgerald restated an “overweight” rating and set a $60.00 target price on shares of Longboard Pharmaceuticals in a research note on Friday, May 3rd. Robert W. Baird started coverage on Longboard Pharmaceuticals in a research note on Wednesday, May 1st. They set an “outperform” rating and a $36.00 target price for the company. Finally, Wedbush raised their target price on Longboard Pharmaceuticals from $32.00 to $34.00 and gave the company an “outperform” rating in a research note on Friday, May 3rd. Seven equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $42.57.

Longboard Pharmaceuticals Trading Down 7.2 %

Shares of NASDAQ LBPH opened at $18.52 on Thursday. Longboard Pharmaceuticals has a 12-month low of $3.60 and a 12-month high of $28.15. The company has a market cap of $720.06 million, a P/E ratio of -8.27 and a beta of 1.15. The stock has a fifty day moving average price of $19.51 and a 200 day moving average price of $18.01.

Longboard Pharmaceuticals (NASDAQ:LBPH) last announced its quarterly earnings results on Thursday, May 2nd. The company reported ($0.42) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.48) by $0.06.

Institutional Trading of Longboard Pharmaceuticals

Several large investors have recently modified their holdings of the business. CIBC Asset Management Inc lifted its position in shares of Longboard Pharmaceuticals by 46.8% during the fourth 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 last quarter. Platinum Investment Management Ltd. bought a new position in shares of Longboard Pharmaceuticals during the fourth quarter worth about $766,000. Jennison Associates LLC bought a new position in shares of Longboard Pharmaceuticals during the fourth quarter worth about $2,899,000. Polar Capital Holdings Plc bought a new position in shares of Longboard Pharmaceuticals during the third quarter worth about $5,560,000. Finally, Parkman Healthcare Partners LLC lifted its position in shares of Longboard Pharmaceuticals by 20.8% during the fourth quarter. Parkman Healthcare Partners LLC now owns 429,892 shares of the company’s stock worth $2,592,000 after purchasing an additional 73,935 shares during the last quarter. 63.28% of the stock is currently owned by institutional investors and hedge funds.

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.