Evercore ISI Increases Longboard Pharmaceuticals (NASDAQ:LBPH) Price Target to $57.00

Longboard Pharmaceuticals (NASDAQ:LBPH) had its price target increased by investment analysts at Evercore ISI from $44.00 to $57.00 in a report released on Thursday, Benzinga reports. The firm currently has an “outperform” rating on the stock. Evercore ISI’s target price would suggest a potential upside of 173.91% from the stock’s current price.

A number of other brokerages have also recently weighed in on LBPH. Cantor Fitzgerald reissued an “overweight” rating and set a $60.00 price objective on shares of Longboard Pharmaceuticals in a report on Thursday. HC Wainwright restated a “buy” rating and set a $60.00 price target on shares of Longboard Pharmaceuticals in a research report on Tuesday, June 11th. Robert W. Baird began coverage on Longboard Pharmaceuticals in a research report on Wednesday, May 1st. They set an “outperform” rating and a $36.00 price target on the stock. B. Riley raised their price target on Longboard Pharmaceuticals from $30.00 to $36.00 and gave the stock a “buy” rating in a research report on Tuesday, June 11th. Finally, Wedbush raised their price target on Longboard Pharmaceuticals from $32.00 to $34.00 and gave the stock an “outperform” rating in a research report on Friday, May 3rd. Eight investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $44.38.

Longboard Pharmaceuticals Trading Up 3.3 %

Shares of NASDAQ LBPH opened at $20.81 on Thursday. The stock has a market cap of $809.09 million, a price-to-earnings ratio of -9.29 and a beta of 1.15. Longboard Pharmaceuticals has a 1-year low of $3.60 and a 1-year high of $28.15. The stock’s 50-day moving average is $19.57 and its 200 day moving average is $18.56.

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

Institutional Investors Weigh In On Longboard Pharmaceuticals

A number of large investors have recently made changes to their positions in the business. RA Capital Management L.P. bought a new stake in shares of Longboard Pharmaceuticals during the first quarter valued at approximately $71,045,000. Farallon Capital Management LLC raised its stake in Longboard Pharmaceuticals by 88.4% during the first quarter. Farallon Capital Management LLC now owns 2,940,500 shares of the company’s stock valued at $63,515,000 after buying an additional 1,380,000 shares during the last quarter. Polar Capital Holdings Plc bought a new stake in Longboard Pharmaceuticals in the third quarter worth $5,560,000. Vanguard Group Inc. boosted its holdings in Longboard Pharmaceuticals by 119.3% in the first quarter. Vanguard Group Inc. now owns 1,724,431 shares of the company’s stock worth $37,248,000 after acquiring an additional 937,998 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its holdings in Longboard Pharmaceuticals by 36.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 2,217,995 shares of the company’s stock worth $47,910,000 after acquiring an additional 591,013 shares in the last quarter. 63.28% of the stock is currently owned by institutional investors.

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.