Longboard Pharmaceuticals, Inc. (NASDAQ:LBPH) is Integral Health Asset Management LLC’s 9th Largest Position

Integral Health Asset Management LLC increased its stake in Longboard Pharmaceuticals, Inc. (NASDAQ:LBPH) by 12.8% in the 2nd quarter, Holdings Channel.com reports. The firm owned 1,100,000 shares of the company’s stock after buying an additional 125,000 shares during the quarter. Longboard Pharmaceuticals makes up about 2.8% of Integral Health Asset Management LLC’s portfolio, making the stock its 9th largest position. Integral Health Asset Management LLC’s holdings in Longboard Pharmaceuticals were worth $29,733,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the stock. Ameritas Investment Partners Inc. grew its position in shares of 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 purchasing an additional 1,200 shares in the last quarter. American International Group Inc. grew its position in shares of Longboard Pharmaceuticals by 58.6% in the first quarter. American International Group Inc. now owns 12,283 shares of the company’s stock valued at $265,000 after purchasing an additional 4,540 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in shares of Longboard Pharmaceuticals in the second quarter valued at $127,000. SG Americas Securities LLC purchased a new position in shares of Longboard Pharmaceuticals in the first quarter valued at $132,000. Finally, Arizona State Retirement System purchased a new position in shares of Longboard Pharmaceuticals in the second quarter valued at $216,000. 63.28% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CMO Randall Kaye sold 16,666 shares of the business’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $31.64, for a total value of $527,312.24. Following the completion of the sale, 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 filing with the SEC, which is available at this hyperlink. In the last quarter, insiders sold 33,433 shares of company stock valued at $1,108,244. Insiders own 4.64% of the company’s stock.

Longboard Pharmaceuticals Stock Up 1.5 %

Shares of LBPH stock opened at $33.89 on Monday. The business has a 50-day moving average price of $34.80 and a two-hundred day moving average price of $26.02. Longboard Pharmaceuticals, Inc. has a 12-month low of $3.60 and a 12-month high of $40.48. The firm has a market cap of $1.32 billion, a P/E ratio of -15.13 and a beta of 1.24.

Longboard Pharmaceuticals (NASDAQ:LBPH) last issued its quarterly earnings results on Thursday, August 1st. The company reported ($0.56) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.46) by ($0.10). During the same period in the previous year, the company earned ($0.65) earnings per share. As a group, research analysts expect that Longboard Pharmaceuticals, Inc. will post -2.13 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts recently commented on LBPH shares. Robert W. Baird boosted their target price on Longboard Pharmaceuticals from $36.00 to $60.00 and gave the stock an “outperform” rating in a research report on Thursday, July 11th. B. Riley boosted their target price on Longboard Pharmaceuticals from $36.00 to $45.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. Wedbush boosted their target price on Longboard Pharmaceuticals from $40.00 to $44.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 17th. Citigroup boosted their target price on Longboard Pharmaceuticals from $45.00 to $50.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Finally, HC Wainwright boosted their target price on Longboard Pharmaceuticals from $60.00 to $80.00 and gave the stock a “buy” rating in a research report on Wednesday, September 18th. Nine analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $60.11.

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.