Mesirow Financial Investment Management Inc. Makes New Investment in Longboard Pharmaceuticals, Inc. (NASDAQ:LBPH)

Mesirow Financial Investment Management Inc. bought a new stake in Longboard Pharmaceuticals, Inc. (NASDAQ:LBPH) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 6,634 shares of the company’s stock, valued at approximately $221,000.

A number of other institutional investors have also recently made changes to their positions in the company. Swiss National Bank bought a new stake in Longboard Pharmaceuticals in the 1st quarter valued at about $914,000. Quantbot Technologies LP bought a new stake in shares of Longboard Pharmaceuticals in the first quarter valued at approximately $310,000. Price T Rowe Associates Inc. MD lifted its stake in shares of Longboard Pharmaceuticals by 36.3% during the 1st 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 in the last quarter. Bank of New York Mellon Corp boosted its holdings in Longboard Pharmaceuticals by 34.5% in the 2nd 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 during the period. Finally, Lord Abbett & CO. LLC bought a new position in Longboard Pharmaceuticals in the 1st quarter worth approximately $10,264,000. Hedge funds and other institutional investors own 63.28% of the company’s stock.

Longboard Pharmaceuticals Price Performance

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

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

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. HC Wainwright restated a “neutral” rating and set a $60.00 target price (down previously from $80.00) on shares of Longboard Pharmaceuticals in a research report on Tuesday, October 15th. Truist Financial restated a “hold” rating and issued a $60.00 target price on shares of Longboard Pharmaceuticals in a research note on Tuesday, October 15th. Evercore ISI reiterated an “outperform” rating and set a $80.00 price target on shares of Longboard Pharmaceuticals in a research report on Monday, August 26th. Cantor Fitzgerald restated a “neutral” rating on shares of Longboard Pharmaceuticals in a research report on Monday, October 14th. Finally, Wedbush lowered shares of Longboard Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a report on Monday, October 14th. Five analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $59.56.

Insider Activity at Longboard Pharmaceuticals

In other Longboard Pharmaceuticals news, CMO Randall Kaye sold 16,667 shares of the company’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $59.03, for a total value of $983,853.01. Following the completion of the sale, the chief marketing officer now owns 17,920 shares of the company’s stock, valued at $1,057,817.60. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 4.64% of the stock is currently owned by insiders.

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.