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

HC Wainwright reiterated their buy rating on shares of Longboard Pharmaceuticals (NASDAQ:LBPH) in a research note issued to investors on Tuesday, Benzinga reports. HC Wainwright currently has a $60.00 price target on the stock.

A number of other equities research analysts have also recently commented on LBPH. Wedbush raised their price target on Longboard Pharmaceuticals from $32.00 to $34.00 and gave the company an outperform rating in a report on Friday, May 3rd. Citigroup began coverage on shares of Longboard Pharmaceuticals in a report on Friday, February 16th. They set a buy rating and a $40.00 price objective for the company. Robert W. Baird started coverage on Longboard Pharmaceuticals in a research report on Wednesday, May 1st. They issued an outperform rating and a $36.00 target price on the stock. Finally, Cantor Fitzgerald restated an overweight rating and set a $60.00 price target on shares of Longboard Pharmaceuticals in a report on Friday, May 3rd. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of Buy and an average target price of $43.67.

Longboard Pharmaceuticals Stock Up 7.0 %

NASDAQ:LBPH opened at $22.05 on Tuesday. The stock has a market cap of $794.06 million, a price-to-earnings ratio of -9.84 and a beta of 1.25. The company’s 50 day moving average price is $20.03 and its 200-day moving average price is $15.23. Longboard Pharmaceuticals has a 52 week low of $3.60 and a 52 week high of $28.15.

Longboard Pharmaceuticals (NASDAQ:LBPH) last released its quarterly earnings results on Tuesday, March 12th. The company reported ($0.62) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.60) by ($0.02). As a group, sell-side analysts anticipate that Longboard Pharmaceuticals will post -2.01 earnings per share for the current year.

Institutional Trading of Longboard Pharmaceuticals

Institutional investors and hedge funds have recently bought and sold shares of the business. Polar Capital Holdings Plc purchased a new position in shares of Longboard Pharmaceuticals in the third quarter worth about $5,560,000. Jennison Associates LLC purchased a new stake in shares of Longboard Pharmaceuticals in the 4th quarter valued at approximately $2,899,000. Platinum Investment Management Ltd. purchased a new position in shares of Longboard Pharmaceuticals in the 4th quarter valued at about $766,000. Parkman Healthcare Partners LLC raised its holdings in Longboard Pharmaceuticals by 20.8% during the fourth quarter. Parkman Healthcare Partners LLC now owns 429,892 shares of the company’s stock worth $2,592,000 after purchasing an additional 73,935 shares in the last quarter. Finally, TD Asset Management Inc grew its holdings in shares of Longboard Pharmaceuticals by 149.8% during the third quarter. TD Asset Management Inc now owns 121,422 shares of the company’s stock worth $675,000 after purchasing an additional 72,811 shares during the last quarter. 63.28% of the stock is currently owned by institutional investors and hedge funds.

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.