Longboard Pharmaceuticals, Inc. (NASDAQ:LBPH) Shares Sold by Parkman Healthcare Partners LLC

Parkman Healthcare Partners LLC decreased its holdings in shares of Longboard Pharmaceuticals, Inc. (NASDAQ:LBPH) by 29.2% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 491,272 shares of the company’s stock after selling 202,906 shares during the quarter. Longboard Pharmaceuticals comprises about 2.1% of Parkman Healthcare Partners LLC’s investment portfolio, making the stock its 13th biggest position. Parkman Healthcare Partners LLC’s holdings in Longboard Pharmaceuticals were worth $16,374,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in LBPH. Vanguard Group Inc. boosted its stake in Longboard Pharmaceuticals by 119.3% in the 1st quarter. Vanguard Group Inc. now owns 1,724,431 shares of the company’s stock worth $37,248,000 after buying an additional 937,998 shares during the last quarter. Integral Health Asset Management LLC lifted its holdings in shares of Longboard Pharmaceuticals by 12.8% during the 2nd quarter. Integral Health Asset Management LLC now owns 1,100,000 shares of the company’s stock worth $29,733,000 after acquiring an additional 125,000 shares during the period. Emerald Advisers LLC boosted its position in shares of Longboard Pharmaceuticals by 199.2% in the third quarter. Emerald Advisers LLC now owns 683,642 shares of the company’s stock worth $22,786,000 after acquiring an additional 455,119 shares during the last quarter. Driehaus Capital Management LLC grew its holdings in Longboard Pharmaceuticals by 25.8% in the second quarter. Driehaus Capital Management LLC now owns 488,793 shares of the company’s stock valued at $13,212,000 after purchasing an additional 100,321 shares during the period. Finally, American Century Companies Inc. increased its position in Longboard Pharmaceuticals by 70.2% during the second quarter. American Century Companies Inc. now owns 476,390 shares of the company’s stock worth $12,877,000 after purchasing an additional 196,464 shares during the last quarter. Hedge funds and other institutional investors own 63.28% of the company’s stock.

Insider Activity at Longboard Pharmaceuticals

In other Longboard Pharmaceuticals news, CMO Randall Kaye sold 16,667 shares of the business’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $59.03, for a total transaction of $983,853.01. Following the completion of the transaction, the chief marketing officer now directly owns 17,920 shares of the company’s stock, valued at $1,057,817.60. The trade was a 48.19 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 4.64% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on LBPH shares. Cantor Fitzgerald restated a “neutral” rating on shares of Longboard Pharmaceuticals in a research note on Monday, October 14th. HC Wainwright reaffirmed a “neutral” rating and issued a $60.00 target price (down previously from $80.00) on shares of Longboard Pharmaceuticals in a research report on Tuesday, October 15th. Wedbush downgraded shares of Longboard Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 14th. Evercore ISI reissued an “outperform” rating and set a $80.00 target price on shares of Longboard Pharmaceuticals in a research report on Monday, August 26th. Finally, B. Riley reaffirmed a “neutral” rating and set a $60.00 price target (up from $45.00) on shares of Longboard Pharmaceuticals in a report on Monday, October 14th. Five equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $59.56.

Longboard Pharmaceuticals Stock Performance

NASDAQ LBPH opened at $59.98 on Wednesday. Longboard Pharmaceuticals, Inc. has a one year low of $3.60 and a one year high of $60.03. The company has a 50-day simple moving average of $52.55 and a 200-day simple moving average of $37.64. The firm has a market capitalization of $2.34 billion, a PE ratio of -26.90 and a beta of 1.00.

Longboard Pharmaceuticals (NASDAQ:LBPH) last issued its earnings results on Thursday, November 7th. The company reported ($0.63) EPS for the quarter, missing analysts’ consensus estimates of ($0.59) by ($0.04). Equities analysts forecast that Longboard Pharmaceuticals, Inc. will post -2.22 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.