Longboard Pharmaceuticals (NASDAQ:LBPH) Trading 4.3% Higher

Shares of Longboard Pharmaceuticals, Inc. (NASDAQ:LBPH) traded up 4.3% during mid-day trading on Tuesday . The stock traded as high as $35.01 and last traded at $34.75. 187,932 shares changed hands during mid-day trading, a decline of 78% from the average session volume of 848,960 shares. The stock had previously closed at $33.33.

Analysts Set New Price Targets

LBPH has been the topic of several research reports. Cantor Fitzgerald reissued an “overweight” rating and issued a $90.00 price target on shares of Longboard Pharmaceuticals in a research note on Monday, September 16th. Robert W. Baird increased their price objective on shares of Longboard Pharmaceuticals from $36.00 to $60.00 and gave the stock an “outperform” rating in a research report on Thursday, July 11th. HC Wainwright upped their target price on shares of Longboard Pharmaceuticals from $60.00 to $80.00 and gave the stock a “buy” rating in a research note on Wednesday, September 18th. Truist Financial assumed coverage on Longboard Pharmaceuticals in a research report on Tuesday, September 10th. They set a “buy” rating and a $60.00 price objective for the company. Finally, Wedbush upped their price objective on Longboard Pharmaceuticals from $40.00 to $44.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 17th. Nine investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $60.11.

Longboard Pharmaceuticals Stock Down 1.8 %

The firm’s 50 day moving average is $34.29 and its 200 day moving average is $26.79. The firm has a market capitalization of $1.42 billion, a price-to-earnings ratio of -16.26 and a beta of 1.24.

Longboard Pharmaceuticals (NASDAQ:LBPH) last released its quarterly earnings data on Thursday, August 1st. The company reported ($0.56) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.46) by ($0.10). During the same quarter in the previous year, the business earned ($0.65) earnings per share. On average, sell-side analysts predict that Longboard Pharmaceuticals, Inc. will post -2.19 earnings per share for the current year.

Insider Buying and Selling at Longboard Pharmaceuticals

In other Longboard Pharmaceuticals news, CMO Randall Kaye sold 16,667 shares of the stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $34.73, for a total value of $578,844.91. Following the transaction, the chief marketing officer now owns 17,920 shares of the company’s stock, valued at $622,361.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 4.64% of the company’s stock.

Hedge Funds Weigh In On Longboard Pharmaceuticals

A number of hedge funds and other institutional investors have recently bought and sold shares of LBPH. Ameritas Investment Partners Inc. increased its holdings in Longboard Pharmaceuticals by 93.3% in the 1st quarter. Ameritas Investment Partners Inc. now owns 2,486 shares of the company’s stock valued at $54,000 after buying an additional 1,200 shares during the period. Squarepoint Ops LLC boosted its stake in Longboard Pharmaceuticals by 30.4% during the 2nd quarter. Squarepoint Ops LLC now owns 13,972 shares of the company’s stock valued at $378,000 after purchasing an additional 3,260 shares during the last quarter. American International Group Inc. lifted its stake in Longboard Pharmaceuticals by 58.6% during the 1st quarter. American International Group Inc. now owns 12,283 shares of the company’s stock valued at $265,000 after acquiring an additional 4,540 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in Longboard Pharmaceuticals in the 2nd quarter worth about $127,000. Finally, SG Americas Securities LLC purchased a new stake in shares of Longboard Pharmaceuticals during the first quarter valued at approximately $132,000. Institutional investors own 63.28% of the company’s stock.

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.