Insider Selling: Longboard Pharmaceuticals, Inc. (NASDAQ:LBPH) CMO Sells 16,666 Shares of Stock

Longboard Pharmaceuticals, Inc. (NASDAQ:LBPH) CMO Randall Kaye sold 16,666 shares of the firm’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $31.64, for a total transaction of $527,312.24. Following the sale, the chief marketing officer now directly owns 17,920 shares of the company’s stock, valued at $566,988.80. The transaction was disclosed in a document filed with the SEC, which is available at this link.

Randall Kaye also recently made the following trade(s):

• On Monday, August 12th, Randall Kaye sold 16,667 shares of Longboard Pharmaceuticals stock. The shares were sold at an average price of $34.73, for a total value of $578,844.91.
• On Tuesday, June 25th, Randall Kaye sold 100 shares of Longboard Pharmaceuticals stock. The stock was sold at an average price of $20.87, for a total value of $2,087.00.

Longboard Pharmaceuticals Stock Down 10.4 %

Shares of NASDAQ:LBPH traded down $3.58 during trading on Monday, hitting $30.74. 487,366 shares of the company traded hands, compared to its average volume of 858,177. The stock has a market capitalization of $1.20 billion, a price-to-earnings ratio of -13.72 and a beta of 1.24. Longboard Pharmaceuticals, Inc. has a one year low of $3.60 and a one year high of $40.48. The business’s fifty day moving average is $35.24 and its 200-day moving average is $25.78.

Longboard Pharmaceuticals (NASDAQ:LBPH) last issued its earnings results on Thursday, August 1st. The company reported ($0.56) earnings per share for the quarter, missing the consensus estimate of ($0.46) by ($0.10). During the same period in the previous year, the business earned ($0.65) earnings per share. On average, analysts forecast that Longboard Pharmaceuticals, Inc. will post -2.13 EPS for the current year.

Wall Street Analysts Forecast Growth

LBPH has been the topic of several analyst reports. B. Riley lifted their price objective on Longboard Pharmaceuticals from $36.00 to $45.00 and gave the stock a “buy” rating in a report on Monday, August 5th. Evercore ISI reaffirmed an “outperform” rating and issued a $80.00 price target on shares of Longboard Pharmaceuticals in a report on Monday, August 26th. Wedbush dropped their target price on shares of Longboard Pharmaceuticals from $42.00 to $40.00 and set an “outperform” rating for the company in a research report on Friday, August 2nd. Cantor Fitzgerald restated an “overweight” rating and issued a $90.00 target price on shares of Longboard Pharmaceuticals in a research note on Monday. Finally, HC Wainwright reiterated a “buy” rating and issued a $60.00 price target on shares of Longboard Pharmaceuticals in a research note on Thursday, August 22nd. Nine equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $57.44.

Institutional Trading of Longboard Pharmaceuticals

Hedge funds have recently bought and sold shares of the company. Ameritas Investment Partners Inc. raised its stake in 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 acquiring an additional 1,200 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in shares of Longboard Pharmaceuticals during the second quarter valued at about $127,000. SG Americas Securities LLC acquired a new stake in Longboard Pharmaceuticals in the first quarter worth about $132,000. Denali Advisors LLC acquired a new stake in Longboard Pharmaceuticals in the first quarter worth about $201,000. Finally, Arizona State Retirement System bought a new position in Longboard Pharmaceuticals in the 2nd quarter valued at about $216,000. 63.28% of the stock is currently 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.