Longboard Pharmaceuticals (NASDAQ:LBPH – Free Report) had its target price lifted by Evercore ISI from $57.00 to $80.00 in a report issued on Tuesday morning, Benzinga reports. The brokerage currently has an outperform rating on the stock.
Other equities analysts have also issued research reports about the company. Robert W. Baird assumed coverage on Longboard Pharmaceuticals in a research note on Wednesday, May 1st. They set an outperform rating and a $36.00 target price on the stock. B. Riley raised their price objective on Longboard Pharmaceuticals from $30.00 to $36.00 and gave the stock a buy rating in a research note on Tuesday, June 11th. Cantor Fitzgerald raised their price objective on Longboard Pharmaceuticals from $60.00 to $90.00 and gave the stock an overweight rating in a research note on Monday. HC Wainwright reiterated a buy rating and issued a $60.00 price target on shares of Longboard Pharmaceuticals in a research note on Tuesday, June 11th. Finally, Wedbush lifted their price target on Longboard Pharmaceuticals from $32.00 to $34.00 and gave the company an outperform rating in a research note on Friday, May 3rd. Eight research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has a consensus rating of Buy and a consensus target price of $51.63.
View Our Latest Stock Analysis on LBPH
Longboard Pharmaceuticals Stock Down 0.6 %
Longboard Pharmaceuticals (NASDAQ:LBPH – Get Free Report) last announced its earnings results on Thursday, May 2nd. The company reported ($0.42) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.48) by $0.06. As a group, analysts expect that Longboard Pharmaceuticals will post -1.82 earnings per share for the current year.
Institutional Investors Weigh In On Longboard Pharmaceuticals
Several hedge funds have recently modified their holdings of LBPH. Farallon Capital Management LLC lifted its holdings in Longboard Pharmaceuticals by 88.4% during the 1st quarter. Farallon Capital Management LLC now owns 2,940,500 shares of the company’s stock worth $63,515,000 after buying an additional 1,380,000 shares during the period. RA Capital Management L.P. bought a new stake in shares of Longboard Pharmaceuticals during the 1st quarter valued at about $71,045,000. California State Teachers Retirement System boosted its position in shares of Longboard Pharmaceuticals by 748.2% during the 1st quarter. California State Teachers Retirement System now owns 21,747 shares of the company’s stock valued at $470,000 after purchasing an additional 19,183 shares in the last quarter. AWM Investment Company Inc. bought a new position in Longboard Pharmaceuticals in the first quarter worth approximately $4,569,000. 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. Institutional investors and hedge funds 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.
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