B. Riley Increases Longboard Pharmaceuticals (NASDAQ:LBPH) Price Target to $45.00

Longboard Pharmaceuticals (NASDAQ:LBPH) had its target price lifted by B. Riley from $36.00 to $45.00 in a research report released on Monday morning, Benzinga reports. They currently have a buy rating on the stock. B. Riley also issued estimates for Longboard Pharmaceuticals’ Q3 2024 earnings at ($0.61) EPS, Q4 2024 earnings at ($0.62) EPS, FY2024 earnings at ($2.23) EPS, Q1 2025 earnings at ($0.65) EPS, Q2 2025 earnings at ($0.66) EPS, Q3 2025 earnings at ($0.67) EPS, Q4 2025 earnings at ($0.68) EPS, FY2025 earnings at ($2.66) EPS, FY2026 earnings at ($2.87) EPS, FY2027 earnings at ($2.81) EPS and FY2028 earnings at ($3.06) EPS.

Several other research analysts also recently weighed in on the stock. Wedbush dropped their target price on shares of Longboard Pharmaceuticals from $42.00 to $40.00 and set an outperform rating for the company in a report on Friday, August 2nd. HC Wainwright reaffirmed a buy rating and issued a $60.00 price objective on shares of Longboard Pharmaceuticals in a research note on Thursday, August 1st. Evercore ISI lifted their target price on Longboard Pharmaceuticals from $57.00 to $80.00 and gave the company an outperform rating in a research note on Tuesday, July 2nd. Cantor Fitzgerald reissued an overweight rating and issued a $90.00 price target on shares of Longboard Pharmaceuticals in a report on Friday, August 2nd. Finally, Citigroup increased their price objective on shares of Longboard Pharmaceuticals from $45.00 to $50.00 and gave the company a buy rating in a report on Friday, August 2nd. Eight analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has an average rating of Buy and a consensus target price of $57.13.

Longboard Pharmaceuticals Stock Up 6.4 %

LBPH stock opened at $36.99 on Monday. The business’s 50-day moving average price is $28.51 and its 200-day moving average price is $23.31. The stock has a market cap of $1.44 billion, a P/E ratio of -16.51 and a beta of 1.24. Longboard Pharmaceuticals has a twelve month low of $3.60 and a twelve month high of $40.48.

Longboard Pharmaceuticals (NASDAQ:LBPH) last issued its quarterly earnings results on Thursday, August 1st. The company reported ($0.56) earnings per share for the quarter, missing the consensus estimate of ($0.46) by ($0.10). During the same quarter last year, the firm earned ($0.65) EPS. On average, equities research analysts expect that Longboard Pharmaceuticals will post -1.82 earnings per share for the current fiscal year.

Institutional Trading of Longboard Pharmaceuticals

Hedge funds have recently modified their holdings of the company. American Century Companies Inc. grew its holdings in shares of Longboard Pharmaceuticals by 70.2% in the second quarter. American Century Companies Inc. now owns 476,390 shares of the company’s stock valued at $12,877,000 after purchasing an additional 196,464 shares in the last quarter. Emerald Advisers LLC bought a new position in Longboard Pharmaceuticals during the second quarter valued at $6,177,000. Emerald Mutual Fund Advisers Trust purchased a new position in shares of Longboard Pharmaceuticals in the 2nd quarter worth $4,962,000. Candriam S.C.A. purchased a new position in shares of Longboard Pharmaceuticals in the 2nd quarter worth $6,106,000. Finally, Arizona State Retirement System bought a new stake in shares of Longboard Pharmaceuticals in the 2nd quarter worth about $216,000. 63.28% of the stock is owned by hedge funds and other institutional investors.

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.