Longboard Pharmaceuticals (NASDAQ:LBPH) PT Raised to $90.00

Longboard Pharmaceuticals (NASDAQ:LBPH) had its price objective lifted by stock analysts at Cantor Fitzgerald from $60.00 to $90.00 in a report issued on Monday, Briefing.com reports. The firm presently has an “overweight” rating on the stock. Cantor Fitzgerald’s price target would suggest a potential upside of 212.93% from the stock’s previous close.

Several other research analysts have also recently weighed in on the stock. HC Wainwright reiterated a “buy” rating and set a $60.00 price target on shares of Longboard Pharmaceuticals in a research note on Tuesday, June 11th. Robert W. Baird began coverage on shares of Longboard Pharmaceuticals in a research note on Wednesday, May 1st. They set an “outperform” rating and a $36.00 price target on the stock. B. Riley lifted their target price on shares of Longboard Pharmaceuticals from $30.00 to $36.00 and gave the company a “buy” rating in a research note on Tuesday, June 11th. Evercore ISI lifted their target price on shares of Longboard Pharmaceuticals from $44.00 to $57.00 and gave the company an “outperform” rating in a research note on Thursday, June 20th. Finally, Wedbush lifted their target price on shares of Longboard Pharmaceuticals from $32.00 to $34.00 and gave the company an “outperform” rating in a research note on Friday, May 3rd. Eight equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $48.13.

Longboard Pharmaceuticals Trading Up 6.4 %

NASDAQ:LBPH traded up $1.73 during trading hours on Monday, reaching $28.76. The company had a trading volume of 904,753 shares, compared to its average volume of 952,942. Longboard Pharmaceuticals has a 52 week low of $3.60 and a 52 week high of $30.05. The firm has a market cap of $1.12 billion, a price-to-earnings ratio of -13.03 and a beta of 1.24. The firm’s 50 day moving average price is $20.02 and its 200-day moving average price is $19.38.

Longboard Pharmaceuticals (NASDAQ:LBPH) last issued its quarterly earnings results on Thursday, May 2nd. The company reported ($0.42) earnings per share for the quarter, topping the consensus estimate of ($0.48) by $0.06. On average, analysts forecast that Longboard Pharmaceuticals will post -1.82 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Ameritas Investment Partners Inc. raised its position in shares of 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 buying an additional 1,200 shares in the last quarter. SG Americas Securities LLC purchased a new stake in Longboard Pharmaceuticals in the 1st quarter worth about $132,000. Denali Advisors LLC purchased a new stake in Longboard Pharmaceuticals in the 1st quarter worth about $201,000. American International Group Inc. raised its position in Longboard Pharmaceuticals by 58.6% in the 1st quarter. American International Group Inc. now owns 12,283 shares of the company’s stock worth $265,000 after purchasing an additional 4,540 shares during the period. Finally, Quantbot Technologies LP purchased a new stake in Longboard Pharmaceuticals in the 1st quarter worth about $310,000. 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.