Squarepoint Ops LLC Purchases 3,260 Shares of Longboard Pharmaceuticals, Inc. (NASDAQ:LBPH)

Squarepoint Ops LLC boosted its position in Longboard Pharmaceuticals, Inc. (NASDAQ:LBPH) by 30.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 13,972 shares of the company’s stock after acquiring an additional 3,260 shares during the quarter. Squarepoint Ops LLC’s holdings in Longboard Pharmaceuticals were worth $378,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. RA Capital Management L.P. bought a new position in shares of Longboard Pharmaceuticals in the first quarter worth about $71,045,000. Farallon Capital Management LLC boosted its holdings in Longboard Pharmaceuticals by 88.4% in the first quarter. Farallon Capital Management LLC now owns 2,940,500 shares of the company’s stock valued at $63,515,000 after acquiring an additional 1,380,000 shares during the last quarter. Vanguard Group Inc. increased its position in Longboard Pharmaceuticals by 119.3% during the 1st quarter. Vanguard Group Inc. now owns 1,724,431 shares of the company’s stock valued at $37,248,000 after purchasing an additional 937,998 shares during the period. Price T Rowe Associates Inc. MD raised its stake in Longboard Pharmaceuticals by 36.3% during 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 buying an additional 591,013 shares during the last quarter. Finally, Lord Abbett & CO. LLC bought a new stake in shares of Longboard Pharmaceuticals during the 1st quarter valued at about $10,264,000. 63.28% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently issued reports on LBPH shares. Truist Financial initiated coverage on shares of Longboard Pharmaceuticals in a research report on Tuesday, September 10th. They set a “buy” rating and a $60.00 target price on the stock. Robert W. Baird raised their target price on Longboard Pharmaceuticals from $36.00 to $60.00 and gave the company an “outperform” rating in a report on Thursday, July 11th. Wedbush upped their target price on shares of Longboard Pharmaceuticals from $40.00 to $44.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 17th. HC Wainwright increased their price target on Longboard Pharmaceuticals from $60.00 to $80.00 and gave the company a “buy” rating in a research report on Wednesday, September 18th. Finally, B. Riley boosted their target price on Longboard Pharmaceuticals from $36.00 to $45.00 and gave the company a “buy” rating in a research note on Monday, August 5th. Nine investment analysts have rated the stock with a buy rating, According to MarketBeat.com, Longboard Pharmaceuticals currently has a consensus rating of “Buy” and an average price target of $60.11.

Insider Activity at Longboard Pharmaceuticals

In other news, CMO Randall Kaye sold 16,666 shares of Longboard Pharmaceuticals stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $31.64, for a total transaction of $527,312.24. Following the completion of the transaction, the chief marketing officer now directly owns 17,920 shares in the company, valued at approximately $566,988.80. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 4.64% of the stock is currently owned by company insiders.

Longboard Pharmaceuticals Stock Up 3.0 %

Shares of NASDAQ LBPH opened at $34.37 on Friday. The business has a 50-day simple moving average of $34.28 and a two-hundred day simple moving average of $27.34. The company has a market cap of $1.34 billion, a P/E ratio of -15.34 and a beta of 1.22. Longboard Pharmaceuticals, Inc. has a 52 week low of $3.60 and a 52 week high of $43.15.

Longboard Pharmaceuticals (NASDAQ:LBPH) last announced its quarterly earnings data on Thursday, August 1st. The company reported ($0.56) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.46) by ($0.10). During the same period in the previous year, the company posted ($0.65) EPS. Equities research analysts anticipate that Longboard Pharmaceuticals, Inc. will post -2.19 EPS for the current year.

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.