Longboard Pharmaceuticals (LBPH) – Analysts’ Recent Ratings Updates

A number of research firms have changed their ratings and price targets for Longboard Pharmaceuticals (NASDAQ: LBPH):

• 7/11/2024 – Longboard Pharmaceuticals had its price target raised by analysts at Robert W. Baird from $36.00 to $60.00. They now have an “outperform” rating on the stock.
• 7/2/2024 – Longboard Pharmaceuticals had its price target raised by analysts at Evercore ISI from $57.00 to $80.00. They now have an “outperform” rating on the stock.
• 7/2/2024 – Longboard Pharmaceuticals had its price target raised by analysts at Citigroup Inc. from $40.00 to $45.00. They now have a “buy” rating on the stock.
• 7/1/2024 – Longboard Pharmaceuticals had its price target raised by analysts at Cantor Fitzgerald from $60.00 to $90.00. They now have an “overweight” rating on the stock.
• 6/20/2024 – Longboard Pharmaceuticals had its “overweight” rating reaffirmed by analysts at Cantor Fitzgerald. They now have a $60.00 price target on the stock.
• 6/20/2024 – Longboard Pharmaceuticals had its price target raised by analysts at Evercore ISI from $44.00 to $57.00. They now have an “outperform” rating on the stock.
• 6/11/2024 – Longboard Pharmaceuticals had its price target raised by analysts at B. Riley from $30.00 to $36.00. They now have a “buy” rating on the stock.
• 6/11/2024 – Longboard Pharmaceuticals had its “buy” rating reaffirmed by analysts at HC Wainwright. They now have a $60.00 price target on the stock.

Longboard Pharmaceuticals Stock Up 2.3 %

Shares of LBPH traded up $0.83 during mid-day trading on Monday, reaching $36.78. The company’s stock had a trading volume of 547,765 shares, compared to its average volume of 946,772. Longboard Pharmaceuticals, Inc. has a 1 year low of $3.60 and a 1 year high of $40.48. The company has a market cap of $1.43 billion, a price-to-earnings ratio of -16.42 and a beta of 1.24. The business has a fifty day moving average of $24.26 and a 200 day moving average of $22.21.

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

Hedge Funds Weigh In On Longboard Pharmaceuticals

Several hedge funds have recently bought and sold shares of LBPH. Jennison Associates LLC acquired a new position in Longboard Pharmaceuticals during the fourth quarter worth $2,899,000. CIBC Asset Management Inc grew its position in shares of Longboard Pharmaceuticals by 46.8% in the fourth quarter. CIBC Asset Management Inc now owns 212,178 shares of the company’s stock valued at $1,279,000 after purchasing an additional 67,607 shares during the last quarter. Platinum Investment Management Ltd. acquired a new stake in shares of Longboard Pharmaceuticals in the fourth quarter valued at about $766,000. Parkman Healthcare Partners LLC grew its position in shares of Longboard Pharmaceuticals by 20.8% in the fourth quarter. Parkman Healthcare Partners LLC now owns 429,892 shares of the company’s stock valued at $2,592,000 after purchasing an additional 73,935 shares during the last quarter. Finally, Denali Advisors LLC acquired a new stake in shares of Longboard Pharmaceuticals in the first quarter valued at about $201,000. 63.28% of the stock is owned by institutional investors and hedge funds.

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.