Longboard Pharmaceuticals, Inc. (NASDAQ:LBPH) Given Average Rating of “Buy” by Brokerages

Longboard Pharmaceuticals, Inc. (NASDAQ:LBPH) has received a consensus recommendation of “Buy” from the six analysts that are currently covering the company, Marketbeat.com reports. Six analysts have rated the stock with a buy recommendation. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $43.67.

A number of research analysts recently commented on the company. HC Wainwright reaffirmed a “buy” rating and issued a $60.00 price target on shares of Longboard Pharmaceuticals in a research note on Tuesday. Wedbush increased their target price on shares of Longboard Pharmaceuticals from $32.00 to $34.00 and gave the stock an “outperform” rating in a report on Friday, May 3rd. Robert W. Baird assumed coverage on shares of Longboard Pharmaceuticals in a report on Wednesday, May 1st. They set an “outperform” rating and a $36.00 price target on the stock. Cantor Fitzgerald reiterated an “overweight” rating and set a $60.00 price objective on shares of Longboard Pharmaceuticals in a research report on Friday, May 3rd. Finally, 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 target for the company.

Institutional Investors Weigh In On Longboard Pharmaceuticals

Several institutional investors and hedge funds have recently made changes to their positions in the stock. SG Americas Securities LLC bought a new position in shares of Longboard Pharmaceuticals in the 1st quarter worth about $132,000. Bourgeon Capital Management LLC acquired a new position in shares of Longboard Pharmaceuticals during the third quarter valued at about $39,000. Denali Advisors LLC acquired a new stake in shares of Longboard Pharmaceuticals in the 1st quarter worth about $201,000. Quantbot Technologies LP purchased a new position in shares of Longboard Pharmaceuticals during the first quarter valued at approximately $310,000. Finally, Sei Investments Co. purchased a new stake in Longboard Pharmaceuticals in the 1st quarter valued at $429,000. Institutional investors and hedge funds own 63.28% of the company’s stock.

Longboard Pharmaceuticals Price Performance

LBPH opened at $20.12 on Monday. The business has a fifty day simple moving average of $19.96 and a 200 day simple moving average of $15.44. Longboard Pharmaceuticals has a 1 year low of $3.60 and a 1 year high of $28.15. The company has a market capitalization of $724.72 million, a PE ratio of -8.98 and a beta of 1.25.

Longboard Pharmaceuticals (NASDAQ:LBPH) last released its quarterly earnings results on Tuesday, March 12th. The company reported ($0.62) EPS for the quarter, missing analysts’ consensus estimates of ($0.60) by ($0.02). Equities analysts anticipate that Longboard Pharmaceuticals will post -1.91 earnings per share for the current fiscal 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.