Longboard Pharmaceuticals, Inc. (NASDAQ:LBPH) Receives Average Rating of “Hold” from Analysts

Shares of Longboard Pharmaceuticals, Inc. (NASDAQ:LBPH) have been given an average rating of “Hold” by the nine analysts that are presently covering the stock, Marketbeat.com reports. Five investment analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1-year price target among analysts that have covered the stock in the last year is $59.56.

A number of equities analysts have recently weighed in on LBPH shares. Evercore ISI reaffirmed an “outperform” rating and issued a $80.00 price target on shares of Longboard Pharmaceuticals in a research note on Monday, August 26th. Truist Financial reaffirmed a “hold” rating and set a $60.00 price target on shares of Longboard Pharmaceuticals in a research note on Tuesday, October 15th. Citigroup boosted their price target on Longboard Pharmaceuticals from $45.00 to $50.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. HC Wainwright reaffirmed a “neutral” rating and set a $60.00 price objective (down previously from $80.00) on shares of Longboard Pharmaceuticals in a research report on Tuesday, October 15th. Finally, Wedbush downgraded shares of Longboard Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 14th.

Insider Transactions at Longboard Pharmaceuticals

In related news, CMO Randall Kaye sold 16,666 shares of the business’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $31.64, for a total transaction of $527,312.24. Following the completion of the transaction, the chief marketing officer now owns 17,920 shares of the company’s stock, valued at approximately $566,988.80. The trade was a 48.19 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 4.64% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of LBPH. Swiss National Bank bought a new position in Longboard Pharmaceuticals during the first quarter worth $914,000. Price T Rowe Associates Inc. MD lifted its stake in shares of Longboard Pharmaceuticals by 36.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 2,217,995 shares of the company’s stock valued at $47,910,000 after buying an additional 591,013 shares during the period. Bank of New York Mellon Corp grew its position in Longboard Pharmaceuticals by 34.5% during the second quarter. Bank of New York Mellon Corp now owns 92,664 shares of the company’s stock worth $2,505,000 after buying an additional 23,774 shares in the last quarter. American Century Companies Inc. increased its stake in Longboard Pharmaceuticals by 70.2% during the second quarter. American Century Companies Inc. now owns 476,390 shares of the company’s stock valued at $12,877,000 after acquiring an additional 196,464 shares during the period. Finally, Emerald Mutual Fund Advisers Trust bought a new stake in shares of Longboard Pharmaceuticals in the 2nd quarter worth approximately $4,962,000. 63.28% of the stock is currently owned by institutional investors and hedge funds.

Longboard Pharmaceuticals Trading Up 0.0 %

Shares of NASDAQ LBPH opened at $59.96 on Friday. Longboard Pharmaceuticals has a one year low of $3.60 and a one year high of $59.98. The business has a 50-day moving average price of $50.95 and a two-hundred day moving average price of $36.69. The firm has a market capitalization of $2.34 billion, a PE ratio of -26.89 and a beta of 1.07.

Longboard Pharmaceuticals (NASDAQ:LBPH) last posted its quarterly earnings results on Thursday, November 7th. The company reported ($0.63) EPS for the quarter, missing the consensus estimate of ($0.59) by ($0.04). Research analysts anticipate that Longboard Pharmaceuticals will post -2.22 EPS for the current year.

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.