Brokers Issue Forecasts for Longboard Pharmaceuticals, Inc.’s FY2027 Earnings (NASDAQ:LBPH)

Longboard Pharmaceuticals, Inc. (NASDAQ:LBPH) – Equities researchers at Wedbush lowered their FY2027 EPS estimates for Longboard Pharmaceuticals in a report issued on Tuesday, September 17th. Wedbush analyst L. Chico now forecasts that the company will earn ($3.15) per share for the year, down from their prior estimate of ($2.63). Wedbush has a “Outperform” rating and a $44.00 price objective on the stock. The consensus estimate for Longboard Pharmaceuticals’ current full-year earnings is ($2.13) per share. Wedbush also issued estimates for Longboard Pharmaceuticals’ FY2028 earnings at ($0.68) EPS.

Several other brokerages have also recently commented on LBPH. Robert W. Baird boosted their price target on Longboard Pharmaceuticals from $36.00 to $60.00 and gave the company an “outperform” rating in a research note on Thursday, July 11th. HC Wainwright raised their price target on Longboard Pharmaceuticals from $60.00 to $80.00 and gave the company a “buy” rating in a research report on Wednesday. Citigroup lifted their price target on Longboard Pharmaceuticals from $45.00 to $50.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Truist Financial began coverage on shares of Longboard Pharmaceuticals in a report on Tuesday, September 10th. They issued a “buy” rating and a $60.00 price target for the company. Finally, Evercore ISI reiterated an “outperform” rating and issued a $80.00 price objective on shares of Longboard Pharmaceuticals in a research report on Monday, August 26th. Nine analysts have rated the stock with a buy rating, According to MarketBeat, Longboard Pharmaceuticals currently has a consensus rating of “Buy” and an average target price of $60.11.

Longboard Pharmaceuticals Stock Up 14.0 %

Shares of NASDAQ:LBPH opened at $33.40 on Thursday. The firm has a market capitalization of $1.30 billion, a P/E ratio of -14.91 and a beta of 1.24. Longboard Pharmaceuticals has a 12-month low of $3.60 and a 12-month high of $40.48. The firm has a fifty day moving average of $34.96 and a two-hundred day moving average of $25.84.

Longboard Pharmaceuticals (NASDAQ:LBPH) last announced its quarterly earnings data on Thursday, August 1st. The company reported ($0.56) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.46) by ($0.10). During the same period in the previous year, the firm earned ($0.65) earnings per share.

Hedge Funds Weigh In On Longboard Pharmaceuticals

Institutional investors and hedge funds have recently bought and sold shares of the business. Ameritas Investment Partners Inc. raised its stake in shares of Longboard Pharmaceuticals by 93.3% in the first quarter. Ameritas Investment Partners Inc. now owns 2,486 shares of the company’s stock worth $54,000 after acquiring an additional 1,200 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in shares of Longboard Pharmaceuticals during the 2nd quarter valued at $127,000. SG Americas Securities LLC bought a new stake in Longboard Pharmaceuticals in the first quarter valued at about $132,000. Denali Advisors LLC bought a new stake in shares of Longboard Pharmaceuticals in the 1st quarter valued at about $201,000. Finally, Arizona State Retirement System bought a new stake in Longboard Pharmaceuticals in the second quarter valued at approximately $216,000. Institutional investors and hedge funds own 63.28% of the company’s stock.

Insider Activity at Longboard Pharmaceuticals

In related news, CMO Randall Kaye sold 16,666 shares of the stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $31.64, for a total transaction of $527,312.24. Following the completion of the sale, the chief marketing officer now owns 17,920 shares in the company, valued at approximately $566,988.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold a total of 33,433 shares of company stock valued at $1,108,244 in the last 90 days. 4.64% of the stock is owned by corporate insiders.

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.