HC Wainwright Weighs in on Longboard Pharmaceuticals, Inc.’s Q3 2024 Earnings (NASDAQ:LBPH)

Longboard Pharmaceuticals, Inc. (NASDAQ:LBPH) – Equities research analysts at HC Wainwright cut their Q3 2024 earnings estimates for Longboard Pharmaceuticals in a note issued to investors on Wednesday, September 18th. HC Wainwright analyst P. Trucchio now anticipates that the company will post earnings per share of ($0.61) for the quarter, down from their previous forecast of ($0.49). HC Wainwright has a “Buy” rating and a $80.00 price objective on the stock. The consensus estimate for Longboard Pharmaceuticals’ current full-year earnings is ($2.13) per share. HC Wainwright also issued estimates for Longboard Pharmaceuticals’ Q4 2024 earnings at ($0.65) EPS, FY2024 earnings at ($2.27) EPS, Q1 2025 earnings at ($0.71) EPS, Q2 2025 earnings at ($0.76) EPS, Q3 2025 earnings at ($0.80) EPS, Q4 2025 earnings at ($0.77) EPS, FY2025 earnings at ($3.04) EPS, FY2026 earnings at ($3.18) EPS, FY2027 earnings at ($2.04) EPS and FY2028 earnings at $0.23 EPS.

Longboard Pharmaceuticals (NASDAQ:LBPH) last released its quarterly earnings data on Thursday, August 1st. The company reported ($0.56) EPS for the quarter, missing the consensus estimate of ($0.46) by ($0.10). During the same quarter last year, the company posted ($0.65) EPS.

LBPH has been the subject of several other research reports. 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 target price for the company. Cantor Fitzgerald restated an “overweight” rating and issued a $90.00 target price on shares of Longboard Pharmaceuticals in a report on Monday, September 16th. B. Riley raised their target price on shares of Longboard Pharmaceuticals from $36.00 to $45.00 and gave the stock a “buy” rating in a report on Monday, August 5th. Citigroup raised their target price on shares of Longboard Pharmaceuticals from $45.00 to $50.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Finally, Evercore ISI restated an “outperform” rating and issued a $80.00 target price on shares of Longboard Pharmaceuticals in a report on Monday, August 26th. Nine investment analysts have rated the stock with a buy rating, According to MarketBeat, Longboard Pharmaceuticals presently has an average rating of “Buy” and an average target price of $60.11.

Longboard Pharmaceuticals Stock Up 1.5 %

LBPH stock opened at $33.89 on Friday. Longboard Pharmaceuticals has a 52 week low of $3.60 and a 52 week high of $40.48. The company has a fifty day simple moving average of $34.80 and a two-hundred day simple moving average of $25.98. The firm has a market capitalization of $1.32 billion, a P/E ratio of -15.13 and a beta of 1.24.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Ameritas Investment Partners Inc. increased its position in Longboard Pharmaceuticals by 93.3% during the 1st quarter. Ameritas Investment Partners Inc. now owns 2,486 shares of the company’s stock valued at $54,000 after purchasing an additional 1,200 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in Longboard Pharmaceuticals during the 2nd quarter valued at about $127,000. SG Americas Securities LLC purchased a new position in Longboard Pharmaceuticals during the 1st quarter valued at about $132,000. Denali Advisors LLC purchased a new position in Longboard Pharmaceuticals during the 1st quarter valued at about $201,000. Finally, Arizona State Retirement System purchased a new position in Longboard Pharmaceuticals during the 2nd quarter valued at about $216,000. Hedge funds and other institutional investors own 63.28% of the company’s stock.

Insider Buying and Selling

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