6,634 Shares in Longboard Pharmaceuticals, Inc. (NASDAQ:LBPH) Acquired by Mesirow Financial Investment Management Inc.

Mesirow Financial Investment Management Inc. purchased a new position in Longboard Pharmaceuticals, Inc. (NASDAQ:LBPH) during the third quarter, Holdings Channel reports. The fund purchased 6,634 shares of the company’s stock, valued at approximately $221,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Swiss National Bank purchased a new position in shares of Longboard Pharmaceuticals in the first quarter worth $914,000. Quantbot Technologies LP purchased a new stake in Longboard Pharmaceuticals during the 1st quarter valued at $310,000. Price T Rowe Associates Inc. MD grew its holdings in Longboard Pharmaceuticals by 36.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,217,995 shares of the company’s stock worth $47,910,000 after acquiring an additional 591,013 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of Longboard Pharmaceuticals by 34.5% in the second quarter. Bank of New York Mellon Corp now owns 92,664 shares of the company’s stock valued at $2,505,000 after acquiring an additional 23,774 shares during the period. Finally, Lord Abbett & CO. LLC bought a new position in shares of Longboard Pharmaceuticals during the first quarter valued at about $10,264,000. Institutional investors own 63.28% of the company’s stock.

Insiders Place Their Bets

In other news, CMO Randall Kaye sold 16,667 shares of the firm’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $59.03, for a total transaction 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 trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 4.64% of the company’s stock.

Longboard Pharmaceuticals Price Performance

NASDAQ:LBPH opened at $59.73 on Wednesday. The firm has a market capitalization of $2.32 billion, a P/E ratio of -26.78 and a beta of 1.07. Longboard Pharmaceuticals, Inc. has a one year low of $3.60 and a one year high of $59.95. The company’s 50-day simple moving average is $44.54 and its 200 day simple moving average is $33.55.

Longboard Pharmaceuticals (NASDAQ:LBPH) last issued its quarterly earnings results on Thursday, November 7th. The company reported ($0.63) EPS for the quarter, missing analysts’ consensus estimates of ($0.59) by ($0.04). On average, equities research analysts expect that Longboard Pharmaceuticals, Inc. will post -2.19 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts recently issued reports on LBPH shares. Wedbush cut Longboard Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 14th. Evercore ISI reissued an “outperform” rating and set a $80.00 target price on shares of Longboard Pharmaceuticals in a research note on Monday, August 26th. Truist Financial restated a “hold” rating and set a $60.00 target price on shares of Longboard Pharmaceuticals in a report on Tuesday, October 15th. Citigroup lifted their price target 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. Finally, B. Riley restated a “neutral” rating and issued a $60.00 price objective (up from $45.00) on shares of Longboard Pharmaceuticals in a report on Monday, October 14th. Five research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, Longboard Pharmaceuticals currently has a consensus rating of “Hold” and a consensus price target of $59.56.

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.