Longboard Pharmaceuticals (NASDAQ:LBPH) Given “Neutral” Rating at HC Wainwright

HC Wainwright restated their neutral rating on shares of Longboard Pharmaceuticals (NASDAQ:LBPH) in a research report sent to investors on Tuesday morning, MarketBeat.com reports. They currently have a $60.00 price objective on the stock, down from their prior price objective of $80.00.

Several other research analysts have also recently weighed in on LBPH. B. Riley reissued a “neutral” rating and set a $60.00 price objective (up from $45.00) on shares of Longboard Pharmaceuticals in a report on Monday, October 14th. Truist Financial restated a “hold” rating and set a $60.00 target price on shares of Longboard Pharmaceuticals in a research report on Tuesday. Robert W. Baird boosted their target price on shares of Longboard Pharmaceuticals from $36.00 to $60.00 and gave the company an “outperform” rating in a research report on Thursday, July 11th. Evercore ISI restated an “outperform” rating and set a $80.00 target price on shares of Longboard Pharmaceuticals in a research report on Monday, August 26th. Finally, Wedbush boosted their target price on shares of Longboard Pharmaceuticals from $40.00 to $44.00 and gave the company an “outperform” rating in a research report on Tuesday, September 17th. Five equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, Longboard Pharmaceuticals currently has an average rating of “Hold” and an average target price of $59.56.

Longboard Pharmaceuticals Stock Up 0.1 %

LBPH opened at $59.21 on Tuesday. The firm has a 50 day moving average price of $36.79 and a 200-day moving average price of $28.79. Longboard Pharmaceuticals has a twelve month low of $3.60 and a twelve month high of $59.47. The stock has a market capitalization of $2.30 billion, a price-to-earnings ratio of -26.43 and a beta of 1.22.

Longboard Pharmaceuticals (NASDAQ:LBPH) last released its quarterly earnings data 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 in the previous year, the firm earned ($0.65) EPS. As a group, analysts expect that Longboard Pharmaceuticals will post -2.19 earnings per share for the current year.

Insiders Place Their Bets

In other Longboard Pharmaceuticals news, CMO Randall Kaye sold 16,667 shares of the company’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $59.03, for a total value of $983,853.01. Following the completion of the transaction, the chief marketing officer now directly owns 17,920 shares in the company, valued at $1,057,817.60. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders sold a total of 50,000 shares of company stock worth $2,090,010 over the last three months. 4.64% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Longboard Pharmaceuticals

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. SG Americas Securities LLC bought a new position in shares of Longboard Pharmaceuticals during the third quarter worth $350,000. Driehaus Capital Management LLC boosted its position in shares of Longboard Pharmaceuticals by 25.8% during the second quarter. Driehaus Capital Management LLC now owns 488,793 shares of the company’s stock worth $13,212,000 after acquiring an additional 100,321 shares during the last quarter. Lynx1 Capital Management LP bought a new position in shares of Longboard Pharmaceuticals during the second quarter worth $4,523,000. The Manufacturers Life Insurance Company boosted its position in shares of Longboard Pharmaceuticals by 40.2% during the second quarter. The Manufacturers Life Insurance Company now owns 117,739 shares of the company’s stock worth $3,182,000 after acquiring an additional 33,755 shares during the last quarter. Finally, Squarepoint Ops LLC boosted its position in shares of Longboard Pharmaceuticals by 30.4% during the second quarter. Squarepoint Ops LLC now owns 13,972 shares of the company’s stock worth $378,000 after acquiring an additional 3,260 shares during the last quarter. 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.