Longboard Pharmaceuticals (NASDAQ:LBPH) Price Target Increased to $45.00 by Analysts at B. Riley

Longboard Pharmaceuticals (NASDAQ:LBPH) had its price target upped by B. Riley from $36.00 to $45.00 in a research note published on Monday morning, Benzinga reports. They currently have a buy rating on the stock.

Several other research analysts also recently issued reports on the company. HC Wainwright reaffirmed a buy rating and set a $60.00 price objective on shares of Longboard Pharmaceuticals in a report on Thursday, August 1st. Citigroup raised their price target on Longboard Pharmaceuticals from $45.00 to $50.00 and gave the company a buy rating in a report on Friday. Evercore ISI lifted their price objective on Longboard Pharmaceuticals from $57.00 to $80.00 and gave the stock an outperform rating in a research report on Tuesday, July 2nd. Robert W. Baird upped their target price on shares of Longboard Pharmaceuticals from $36.00 to $60.00 and gave the company an outperform rating in a research report on Thursday, July 11th. Finally, Wedbush lowered their price target 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. Eight research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of Buy and a consensus price target of $57.13.

Longboard Pharmaceuticals Price Performance

Shares of NASDAQ:LBPH traded up $0.82 during midday trading on Monday, reaching $35.01. The company’s stock had a trading volume of 378,479 shares, compared to its average volume of 924,497. The business’s fifty day simple moving average is $27.47 and its 200-day simple moving average is $23.05. The company has a market capitalization of $1.36 billion, a P/E ratio of -15.79 and a beta of 1.24. Longboard Pharmaceuticals has a fifty-two week low of $3.60 and a fifty-two week high of $40.48.

Longboard Pharmaceuticals (NASDAQ:LBPH) last announced its earnings results on Thursday, August 1st. The company reported ($0.56) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.46) by ($0.10). During the same period in the prior year, the company earned ($0.65) EPS. On average, analysts forecast that Longboard Pharmaceuticals will post -1.82 earnings per share for the current fiscal year.

Institutional Trading of Longboard Pharmaceuticals

A number of large investors have recently made changes to their positions in LBPH. RA Capital Management L.P. acquired a new position in Longboard Pharmaceuticals in the first quarter valued at about $71,045,000. Farallon Capital Management LLC lifted its holdings in shares of Longboard Pharmaceuticals by 88.4% during the 1st quarter. Farallon Capital Management LLC now owns 2,940,500 shares of the company’s stock valued at $63,515,000 after purchasing an additional 1,380,000 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Longboard Pharmaceuticals by 119.3% in the 1st quarter. Vanguard Group Inc. now owns 1,724,431 shares of the company’s stock valued at $37,248,000 after purchasing an additional 937,998 shares during the period. Price T Rowe Associates Inc. MD increased its stake in Longboard Pharmaceuticals by 36.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,217,995 shares of the company’s stock worth $47,910,000 after purchasing an additional 591,013 shares in the last quarter. Finally, Jennison Associates LLC bought a new stake in Longboard Pharmaceuticals during the 4th quarter worth approximately $2,899,000. Institutional investors own 63.28% of the company’s stock.

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.