Denali Advisors LLC Invests $201,000 in Longboard Pharmaceuticals, Inc. (NASDAQ:LBPH)

Denali Advisors LLC bought a new stake in Longboard Pharmaceuticals, Inc. (NASDAQ:LBPH) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 9,300 shares of the company’s stock, valued at approximately $201,000.

Several other institutional investors and hedge funds have also bought and sold shares of LBPH. Platinum Investment Management Ltd. purchased a new stake in shares of Longboard Pharmaceuticals in the fourth quarter worth $766,000. CIBC Asset Management Inc lifted its holdings in shares of Longboard Pharmaceuticals by 46.8% during 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. Parkman Healthcare Partners LLC raised its holdings in Longboard Pharmaceuticals by 20.8% in the 4th quarter. Parkman Healthcare Partners LLC now owns 429,892 shares of the company’s stock worth $2,592,000 after acquiring an additional 73,935 shares during the last quarter. Jennison Associates LLC purchased a new stake in Longboard Pharmaceuticals during the 4th quarter valued at $2,899,000. Finally, Polar Capital Holdings Plc bought a new stake in Longboard Pharmaceuticals during the third quarter valued at about $5,560,000. 63.28% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on LBPH shares. Robert W. Baird started coverage on Longboard Pharmaceuticals in a research report on Wednesday, May 1st. They issued an “outperform” rating and a $36.00 price target for the company. Evercore ISI increased their target price on shares of Longboard Pharmaceuticals from $57.00 to $80.00 and gave the company an “outperform” rating in a research report on Tuesday. Wedbush raised their target price on shares of Longboard Pharmaceuticals from $32.00 to $34.00 and gave the company an “outperform” rating in a research note on Friday, May 3rd. B. Riley lifted their price objective 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. Finally, Cantor Fitzgerald raised their target price on shares of Longboard Pharmaceuticals from $60.00 to $90.00 and gave the stock an “overweight” rating in a report on Monday. Eight investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $51.63.

Longboard Pharmaceuticals Stock Up 3.8 %

Shares of LBPH traded up $1.17 during mid-day trading on Wednesday, hitting $31.91. The company had a trading volume of 521,595 shares, compared to its average volume of 963,313. The business’s 50-day simple moving average is $20.47 and its 200-day simple moving average is $19.74. Longboard Pharmaceuticals, Inc. has a 1-year low of $3.60 and a 1-year high of $33.74. The stock has a market cap of $1.24 billion, a PE ratio of -14.74 and a beta of 1.24.

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

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.