Longboard Pharmaceuticals (NASDAQ:LBPH) Price Target Increased to $90.00 by Analysts at Cantor Fitzgerald

Longboard Pharmaceuticals (NASDAQ:LBPH) had its price objective lifted by Cantor Fitzgerald from $60.00 to $90.00 in a research note released on Monday morning, MarketBeat.com reports. The brokerage currently has an overweight rating on the stock.

A number of other equities research analysts have also recently commented on the stock. Wedbush raised their price target on shares of Longboard Pharmaceuticals from $32.00 to $34.00 and gave the stock an outperform rating in a report on Friday, May 3rd. HC Wainwright reissued a buy rating and set a $60.00 price objective on shares of Longboard Pharmaceuticals in a research report on Tuesday, June 11th. B. Riley boosted their target price on Longboard Pharmaceuticals from $30.00 to $36.00 and gave the company a buy rating in a research report on Tuesday, June 11th. Evercore ISI increased their price target on Longboard Pharmaceuticals from $44.00 to $57.00 and gave the stock an outperform rating in a report on Thursday, June 20th. Finally, Robert W. Baird started coverage on Longboard Pharmaceuticals in a research note on Wednesday, May 1st. They issued an outperform rating and a $36.00 price objective for the company. Eight investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Longboard Pharmaceuticals currently has a consensus rating of Buy and a consensus price target of $51.63.

Longboard Pharmaceuticals Price Performance

Shares of NASDAQ:LBPH opened at $31.91 on Monday. The business’s 50-day moving average is $20.72 and its 200-day moving average is $19.83. Longboard Pharmaceuticals has a 1 year low of $3.60 and a 1 year high of $33.74. The company has a market capitalization of $1.24 billion, a price-to-earnings ratio of -14.25 and a beta of 1.24.

Longboard Pharmaceuticals (NASDAQ:LBPH) last issued 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. Analysts anticipate that Longboard Pharmaceuticals will post -1.82 EPS for the current year.

Institutional Trading of Longboard Pharmaceuticals

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in LBPH. RA Capital Management L.P. purchased a new position in shares of Longboard Pharmaceuticals during the first quarter valued at approximately $71,045,000. Farallon Capital Management LLC lifted its stake in Longboard Pharmaceuticals by 88.4% during the 1st quarter. Farallon Capital Management LLC now owns 2,940,500 shares of the company’s stock valued at $63,515,000 after acquiring an additional 1,380,000 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Longboard Pharmaceuticals by 36.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,217,995 shares of the company’s stock worth $47,910,000 after acquiring an additional 591,013 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Longboard Pharmaceuticals by 119.3% in the first quarter. Vanguard Group Inc. now owns 1,724,431 shares of the company’s stock valued at $37,248,000 after purchasing an additional 937,998 shares during the last quarter. Finally, Polar Capital Holdings Plc bought a new position in shares of Longboard Pharmaceuticals during the third quarter valued at about $5,560,000. 63.28% of the stock is owned by 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.