Longboard Pharmaceuticals (NASDAQ:LBPH – Free Report) had its target price increased by Evercore ISI from $57.00 to $80.00 in a research report sent to investors on Tuesday morning, Benzinga reports. They currently have an outperform rating on the stock.
A number of other research analysts have also commented on LBPH. Cantor Fitzgerald increased their price objective on Longboard Pharmaceuticals from $60.00 to $90.00 and gave the company an overweight rating in a report on Monday. B. Riley lifted their price target on shares of Longboard Pharmaceuticals from $30.00 to $36.00 and gave the company a buy rating in a research report on Tuesday, June 11th. HC Wainwright reaffirmed a buy rating and set a $60.00 price objective on shares of Longboard Pharmaceuticals in a report on Tuesday, June 11th. Robert W. Baird started coverage on shares of Longboard Pharmaceuticals in a research note on Wednesday, May 1st. They issued an outperform rating and a $36.00 target price on the stock. Finally, Wedbush boosted their target price on shares of Longboard Pharmaceuticals from $32.00 to $34.00 and gave the stock an outperform rating in a research report on Friday, May 3rd. Eight equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Longboard Pharmaceuticals has an average rating of Buy and a consensus target price of $51.63.
Check Out Our Latest Analysis on Longboard Pharmaceuticals
Longboard Pharmaceuticals Price Performance
Longboard Pharmaceuticals (NASDAQ:LBPH – Get Free Report) last posted its earnings results on Thursday, May 2nd. The company reported ($0.42) EPS for the quarter, topping the consensus estimate of ($0.48) by $0.06. As a group, equities research analysts predict that Longboard Pharmaceuticals will post -1.82 earnings per share for the current year.
Institutional Inflows and Outflows
Large investors have recently made changes to their positions in the stock. Ameritas Investment Partners Inc. lifted its position in shares of Longboard Pharmaceuticals by 93.3% in the 1st quarter. Ameritas Investment Partners Inc. now owns 2,486 shares of the company’s stock worth $54,000 after acquiring an additional 1,200 shares during the period. SG Americas Securities LLC acquired a new position in shares of Longboard Pharmaceuticals in the first quarter valued at $132,000. Denali Advisors LLC bought a new position in Longboard Pharmaceuticals in the first quarter worth $201,000. American International Group Inc. lifted its position in Longboard Pharmaceuticals by 58.6% in the first quarter. American International Group Inc. now owns 12,283 shares of the company’s stock worth $265,000 after purchasing an additional 4,540 shares during the period. Finally, Quantbot Technologies LP acquired a new stake in Longboard Pharmaceuticals during the first quarter worth $310,000. Institutional investors and hedge funds own 63.28% of the company’s stock.
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.
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