Longboard Pharmaceuticals (NASDAQ:LBPH) PT Raised to $90.00

Longboard Pharmaceuticals (NASDAQ:LBPH) had its price target raised by equities researchers at Cantor Fitzgerald from $60.00 to $90.00 in a report issued on Monday, Marketbeat reports. The firm currently has an “overweight” rating on the stock. Cantor Fitzgerald’s price target indicates a potential upside of 192.78% from the company’s current price.

Several other research analysts have also issued reports on LBPH. HC Wainwright reiterated a “buy” rating and issued a $60.00 target price on shares of Longboard Pharmaceuticals in a research report on Tuesday, June 11th. Evercore ISI upped their target price on shares of Longboard Pharmaceuticals from $44.00 to $57.00 and gave the stock an “outperform” rating in a research report on Thursday, June 20th. Wedbush upped their price target on shares of Longboard Pharmaceuticals from $32.00 to $34.00 and gave the company an “outperform” rating in a research report on Friday, May 3rd. B. Riley upped their price target on shares of Longboard Pharmaceuticals from $30.00 to $36.00 and gave the company a “buy” rating in a research report on Tuesday, June 11th. Finally, Robert W. Baird started coverage on shares of Longboard Pharmaceuticals in a research report on Wednesday, May 1st. They set an “outperform” rating and a $36.00 price target for the company. Eight equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $51.63.

Longboard Pharmaceuticals Stock Performance

Longboard Pharmaceuticals stock opened at $30.74 on Monday. The stock has a market cap of $1.20 billion, a P/E ratio of -13.72 and a beta of 1.24. Longboard Pharmaceuticals has a fifty-two week low of $3.60 and a fifty-two week high of $33.74. The firm’s fifty day moving average price is $20.47 and its 200-day moving average price is $19.74.

Longboard Pharmaceuticals (NASDAQ:LBPH) last announced its earnings results on Thursday, May 2nd. The company reported ($0.42) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.48) by $0.06. Sell-side analysts predict that Longboard Pharmaceuticals will post -1.82 earnings per share for the current year.

Hedge Funds Weigh In On Longboard Pharmaceuticals

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Ameritas Investment Partners Inc. increased its position in shares of Longboard Pharmaceuticals by 93.3% during 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 in the last quarter. SG Americas Securities LLC bought a new stake in shares of Longboard Pharmaceuticals during the first quarter valued at approximately $132,000. Denali Advisors LLC bought a new stake in shares of Longboard Pharmaceuticals during the first quarter valued at approximately $201,000. American International Group Inc. increased its position in shares of Longboard Pharmaceuticals by 58.6% during the first quarter. American International Group Inc. now owns 12,283 shares of the company’s stock valued at $265,000 after acquiring an additional 4,540 shares in the last quarter. Finally, Quantbot Technologies LP bought a new stake in shares of Longboard Pharmaceuticals during the first quarter valued at approximately $310,000. 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.