Evercore ISI Boosts Longboard Pharmaceuticals (NASDAQ:LBPH) Price Target to $57.00

Longboard Pharmaceuticals (NASDAQ:LBPH) had its target price boosted by Evercore ISI from $44.00 to $57.00 in a research report report published on Thursday morning, Benzinga reports. They currently have an outperform rating on the stock.

Several other equities research analysts have also weighed in on LBPH. Cantor Fitzgerald reiterated an overweight rating and issued a $60.00 target price on shares of Longboard Pharmaceuticals in a report on Thursday. Wedbush lifted their target price on shares of Longboard Pharmaceuticals from $32.00 to $34.00 and gave the stock an outperform rating in a report on Friday, May 3rd. HC Wainwright restated a buy rating and issued a $60.00 target price on shares of Longboard Pharmaceuticals in a research report on Tuesday, June 11th. Robert W. Baird started coverage on shares of Longboard Pharmaceuticals in a report on Wednesday, May 1st. They set an outperform rating and a $36.00 target price on the stock. Finally, B. Riley boosted their target price on shares of Longboard Pharmaceuticals from $30.00 to $36.00 and gave the stock a buy rating in a report on Tuesday, June 11th. Eight analysts have rated the stock with a buy rating, Based on data from MarketBeat, Longboard Pharmaceuticals currently has an average rating of Buy and an average price target of $44.38.

Longboard Pharmaceuticals Stock Up 3.3 %

NASDAQ:LBPH opened at $20.81 on Thursday. The firm has a market capitalization of $809.09 million, a PE ratio of -9.29 and a beta of 1.15. Longboard Pharmaceuticals has a 12-month low of $3.60 and a 12-month high of $28.15. The firm has a 50-day moving average price of $19.57 and a 200 day moving average price of $18.66.

Longboard Pharmaceuticals (NASDAQ:LBPH) last announced its quarterly earnings data on Thursday, May 2nd. The company reported ($0.42) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.48) by $0.06. On average, research analysts expect that Longboard Pharmaceuticals will post -1.82 EPS for the current year.

Institutional Trading of Longboard Pharmaceuticals

Institutional investors and hedge funds have recently made changes to their positions in the company. CIBC Asset Management Inc boosted its position in Longboard Pharmaceuticals by 46.8% during the fourth quarter. CIBC Asset Management Inc now owns 212,178 shares of the company’s stock worth $1,279,000 after purchasing an additional 67,607 shares during the period. Parkman Healthcare Partners LLC raised its stake in shares of Longboard Pharmaceuticals by 20.8% during the fourth quarter. Parkman Healthcare Partners LLC now owns 429,892 shares of the company’s stock worth $2,592,000 after acquiring an additional 73,935 shares in the last quarter. Platinum Investment Management Ltd. purchased a new position in shares of Longboard Pharmaceuticals during the fourth quarter worth approximately $766,000. Jennison Associates LLC bought a new position in shares of Longboard Pharmaceuticals in the fourth quarter worth approximately $2,899,000. Finally, Polar Capital Holdings Plc bought a new position in shares of Longboard Pharmaceuticals in the third quarter worth approximately $5,560,000. Hedge funds and other 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.