HC Wainwright Reaffirms Neutral Rating for Longboard Pharmaceuticals (NASDAQ:LBPH)

Longboard Pharmaceuticals (NASDAQ:LBPH)‘s stock had its “neutral” rating reissued by equities research analysts at HC Wainwright in a research report issued on Tuesday, Benzinga reports. They presently have a $60.00 target price on the stock, down from their previous target price of $80.00. HC Wainwright’s price target would suggest a potential upside of 1.01% from the stock’s current price.

Several other brokerages have also commented on LBPH. Citigroup increased their price objective on Longboard Pharmaceuticals from $45.00 to $50.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Truist Financial reaffirmed a “hold” rating and issued a $60.00 price target on shares of Longboard Pharmaceuticals in a report on Tuesday. Wedbush boosted their price objective on shares of Longboard Pharmaceuticals from $40.00 to $44.00 and gave the company an “outperform” rating in a report on Tuesday, September 17th. Robert W. Baird raised their target price on Longboard Pharmaceuticals from $36.00 to $60.00 and gave the stock an “outperform” rating in a research note on Thursday, July 11th. Finally, Evercore ISI reaffirmed an “outperform” rating and set a $80.00 price target on shares of Longboard Pharmaceuticals in a research report on Monday, August 26th. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $59.56.

Longboard Pharmaceuticals Stock Up 0.5 %

Longboard Pharmaceuticals stock opened at $59.40 on Tuesday. The firm has a market cap of $2.31 billion, a P/E ratio of -26.52 and a beta of 1.22. The business has a fifty day moving average of $35.87 and a two-hundred day moving average of $28.31. Longboard Pharmaceuticals has a twelve month low of $3.60 and a twelve month high of $59.47.

Longboard Pharmaceuticals (NASDAQ:LBPH) last issued its quarterly earnings data 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 previous year, the firm posted ($0.65) earnings per share. Equities analysts expect that Longboard Pharmaceuticals will post -2.19 earnings per share for the current year.

Insider Buying and Selling at Longboard Pharmaceuticals

In other Longboard Pharmaceuticals news, CMO Randall Kaye sold 16,666 shares of Longboard Pharmaceuticals stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $31.64, for a total transaction of $527,312.24. Following the completion of the transaction, the chief marketing officer now owns 17,920 shares in the company, valued at approximately $566,988.80. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Over the last three months, insiders have sold 50,000 shares of company stock valued at $2,090,010. 4.64% of the stock is owned by insiders.

Institutional Trading of Longboard Pharmaceuticals

A number of hedge funds have recently modified their holdings of LBPH. Ameritas Investment Partners Inc. lifted its holdings in Longboard Pharmaceuticals by 93.3% in the first 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 during the period. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in shares of Longboard Pharmaceuticals during the 2nd quarter valued at approximately $127,000. SG Americas Securities LLC purchased a new position in shares of Longboard Pharmaceuticals during the 1st quarter valued at approximately $132,000. Denali Advisors LLC acquired a new position in shares of Longboard Pharmaceuticals in the 1st quarter valued at $201,000. Finally, Arizona State Retirement System purchased a new stake in Longboard Pharmaceuticals during the second quarter worth $216,000. Hedge funds and other institutional investors own 63.28% of the company’s stock.

About Longboard Pharmaceuticals

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.