Robert W. Baird Boosts Longboard Pharmaceuticals (NASDAQ:LBPH) Price Target to $60.00

Longboard Pharmaceuticals (NASDAQ:LBPH) had its price objective hoisted by Robert W. Baird from $36.00 to $60.00 in a research report report published on Thursday morning, Benzinga reports. They currently have an outperform rating on the stock.

Several other research firms also recently issued reports on LBPH. Evercore ISI lifted their price target on shares of Longboard Pharmaceuticals from $57.00 to $80.00 and gave the stock an outperform rating in a research note on Tuesday, July 2nd. B. Riley lifted their price target on shares of Longboard Pharmaceuticals from $30.00 to $36.00 and gave the stock a buy rating in a research note on Tuesday, June 11th. Citigroup lifted their price target on shares of Longboard Pharmaceuticals from $40.00 to $45.00 and gave the stock a buy rating in a research note on Tuesday, July 2nd. HC Wainwright reaffirmed a buy rating and set a $60.00 price target on shares of Longboard Pharmaceuticals in a research note on Tuesday, June 11th. Finally, Wedbush lifted their price target on shares of Longboard Pharmaceuticals from $32.00 to $34.00 and gave the stock an outperform rating in a research note on Friday, May 3rd. Eight 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 $54.63.

Longboard Pharmaceuticals Trading Down 4.0 %

NASDAQ:LBPH opened at $36.83 on Thursday. The firm has a market capitalization of $1.43 billion, a price-to-earnings ratio of -16.44 and a beta of 1.24. The firm’s fifty day simple moving average is $22.66 and its 200 day simple moving average is $21.36. Longboard Pharmaceuticals has a twelve month low of $3.60 and a twelve month high of $40.48.

Longboard Pharmaceuticals (NASDAQ:LBPH) last posted its earnings results on Thursday, May 2nd. The company reported ($0.42) earnings per share for the quarter, beating the consensus estimate of ($0.48) by $0.06. On average, analysts predict that Longboard Pharmaceuticals will post -1.82 earnings per share for the current year.

Institutional Investors Weigh In On Longboard Pharmaceuticals

Several hedge funds and other institutional investors have recently modified their holdings of LBPH. Ameritas Investment Partners Inc. grew its position in shares of Longboard Pharmaceuticals by 93.3% during the 1st quarter. Ameritas Investment Partners Inc. now owns 2,486 shares of the company’s stock valued at $54,000 after buying an additional 1,200 shares during the last quarter. SG Americas Securities LLC bought a new stake in shares of Longboard Pharmaceuticals during the 1st quarter valued at about $132,000. Denali Advisors LLC bought a new stake in shares of Longboard Pharmaceuticals during the 1st quarter valued at about $201,000. American International Group Inc. grew its position in shares of Longboard Pharmaceuticals by 58.6% during the 1st quarter. American International Group Inc. now owns 12,283 shares of the company’s stock valued at $265,000 after buying an additional 4,540 shares during the last quarter. Finally, Quantbot Technologies LP bought a new stake in shares of Longboard Pharmaceuticals during the 1st quarter valued at about $310,000. Institutional investors own 63.28% of the company’s stock.

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.