Longboard Pharmaceuticals (NASDAQ:LBPH) Earns Neutral Rating from Cantor Fitzgerald

Cantor Fitzgerald restated their neutral rating on shares of Longboard Pharmaceuticals (NASDAQ:LBPH) in a research note issued to investors on Monday morning, Marketbeat reports.

A number of other equities analysts also recently commented on LBPH. Wedbush increased their price objective on Longboard Pharmaceuticals from $40.00 to $44.00 and gave the stock an “outperform” rating in a report on Tuesday, September 17th. Evercore ISI restated an “outperform” rating and set a $80.00 price target on shares of Longboard Pharmaceuticals in a research note on Monday, August 26th. B. Riley lifted their price objective on shares of Longboard Pharmaceuticals from $36.00 to $45.00 and gave the company a “buy” rating in a research note on Monday, August 5th. Robert W. Baird increased their target price 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. Finally, Truist Financial assumed coverage on Longboard Pharmaceuticals in a report on Tuesday, September 10th. They set a “buy” rating and a $60.00 target price on the stock. Five equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $59.56.

Longboard Pharmaceuticals Stock Up 0.5 %

Longboard Pharmaceuticals stock opened at $59.40 on Monday. Longboard Pharmaceuticals has a 12 month low of $3.60 and a 12 month high of $59.47. The company’s fifty day simple moving average is $35.87 and its 200-day simple moving average is $28.31. The stock has a market cap of $2.31 billion, a P/E ratio of -26.52 and a beta of 1.22.

Longboard Pharmaceuticals (NASDAQ:LBPH) last issued its earnings results on Thursday, August 1st. The company reported ($0.56) EPS for the quarter, missing analysts’ consensus estimates of ($0.46) by ($0.10). During the same quarter in the previous year, the firm posted ($0.65) earnings per share. On average, equities research analysts expect that Longboard Pharmaceuticals will post -2.19 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CMO Randall Kaye sold 16,667 shares of the firm’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $59.03, for a total value of $983,853.01. Following the sale, the chief marketing officer now directly owns 17,920 shares of the company’s stock, valued at approximately $1,057,817.60. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders sold a total of 50,000 shares of company stock valued at $2,090,010 in the last quarter. Insiders own 4.64% of the company’s stock.

Institutional Investors Weigh In On Longboard Pharmaceuticals

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

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.