Evercore ISI Raises Longboard Pharmaceuticals (NASDAQ:LBPH) Price Target to $80.00

Longboard Pharmaceuticals (NASDAQ:LBPH) had its price target upped by Evercore ISI from $57.00 to $80.00 in a research note issued to investors on Tuesday, Benzinga reports. Evercore ISI currently has an outperform rating on the stock.

A number of other equities analysts have also issued reports on LBPH. Wedbush raised their price target on shares of Longboard Pharmaceuticals from $32.00 to $34.00 and gave the stock an outperform rating in a research report on Friday, May 3rd. Robert W. Baird began coverage on shares of Longboard Pharmaceuticals in a research report on Wednesday, May 1st. They set an outperform rating and a $36.00 price target for the company. B. Riley raised their price target on shares of Longboard Pharmaceuticals from $30.00 to $36.00 and gave the stock a buy rating in a research report on Tuesday, June 11th. Cantor Fitzgerald raised their price target on shares of Longboard Pharmaceuticals from $60.00 to $90.00 and gave the stock an overweight rating in a research report on Monday, July 1st. Finally, HC Wainwright reissued a buy rating and set a $60.00 price target on shares of Longboard Pharmaceuticals in a research report on Tuesday, June 11th. Eight analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has an average rating of Buy and an average target price of $51.63.

Longboard Pharmaceuticals Stock Up 9.3 %

LBPH stock opened at $34.87 on Tuesday. The firm has a 50 day moving average of $21.27 and a 200 day moving average of $20.12. The stock has a market capitalization of $1.36 billion, a PE ratio of -15.57 and a beta of 1.24. Longboard Pharmaceuticals has a 52 week low of $3.60 and a 52 week high of $35.59.

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

Institutional Investors Weigh In On Longboard Pharmaceuticals

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Ameritas Investment Partners Inc. grew its holdings 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 during the period. SG Americas Securities LLC purchased a new stake in shares of Longboard Pharmaceuticals in the first quarter valued at about $132,000. Denali Advisors LLC purchased a new stake in shares of Longboard Pharmaceuticals in the first quarter valued at about $201,000. American International Group Inc. grew its holdings 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 during the period. Finally, Quantbot Technologies LP purchased a new stake in shares of Longboard Pharmaceuticals in the first quarter valued at about $310,000. 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.