Longboard Pharmaceuticals (NASDAQ:LBPH) Given New $80.00 Price Target at HC Wainwright

by · The Markets Daily

Longboard Pharmaceuticals (NASDAQ:LBPH – Get Free Report) had its price target lifted by research analysts at HC Wainwright from $60.00 to $80.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the stock. HC Wainwright’s price target would suggest a potential upside of 190.07% from the company’s previous close.

LBPH has been the subject of a number of other research reports. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $90.00 price objective on shares of Longboard Pharmaceuticals in a research note on Monday. Robert W. Baird boosted their price objective on Longboard Pharmaceuticals from $36.00 to $60.00 and gave the company an “outperform” rating in a research report on Thursday, July 11th. Citigroup lifted their target price on shares of Longboard Pharmaceuticals from $45.00 to $50.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Truist Financial began coverage on shares of Longboard Pharmaceuticals in a report on Tuesday, September 10th. They issued a “buy” rating and a $60.00 price target on the stock. Finally, Wedbush increased their target price on shares of Longboard Pharmaceuticals from $40.00 to $44.00 and gave the stock an “outperform” rating in a report on Tuesday. Nine investment analysts have rated the stock with a buy rating, According to MarketBeat, Longboard Pharmaceuticals has a consensus rating of “Buy” and a consensus price target of $60.11.

Check Out Our Latest Report on LBPH

Longboard Pharmaceuticals Stock Down 10.3 %

NASDAQ:LBPH opened at $27.58 on Wednesday. The stock has a market cap of $1.07 billion, a P/E ratio of -12.31 and a beta of 1.24. The business’s 50-day moving average price is $35.11 and its two-hundred day moving average price is $25.82. Longboard Pharmaceuticals has a twelve month low of $3.60 and a twelve month high of $40.48.

Longboard Pharmaceuticals (NASDAQ:LBPH – Get Free Report) last announced its earnings results on Thursday, August 1st. The company reported ($0.56) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.46) by ($0.10). During the same quarter last year, the company posted ($0.65) EPS. On average, equities research analysts expect that Longboard Pharmaceuticals will post -2.13 EPS for the current fiscal year.

Insider Transactions at Longboard Pharmaceuticals

In other Longboard Pharmaceuticals news, CMO Randall Kaye sold 16,666 shares of the business’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $31.64, for a total value of $527,312.24. Following the sale, the chief marketing officer now directly owns 17,920 shares of the company’s stock, valued at $566,988.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold a total of 33,433 shares of company stock valued at $1,108,244 in the last ninety days. 4.64% of the stock is currently owned by corporate insiders.

Institutional Trading of Longboard Pharmaceuticals

Institutional investors have recently bought and sold shares of the company. Driehaus Capital Management LLC increased its holdings in shares of Longboard Pharmaceuticals by 25.8% in the 2nd quarter. Driehaus Capital Management LLC now owns 488,793 shares of the company’s stock worth $13,212,000 after purchasing an additional 100,321 shares in the last quarter. Lynx1 Capital Management LP bought a new position in Longboard Pharmaceuticals in the second quarter valued at about $4,523,000. The Manufacturers Life Insurance Company boosted its position in Longboard Pharmaceuticals by 40.2% in the second quarter. The Manufacturers Life Insurance Company now owns 117,739 shares of the company’s stock worth $3,182,000 after purchasing an additional 33,755 shares during the last quarter. Squarepoint Ops LLC lifted its stake in shares of Longboard Pharmaceuticals by 30.4% in 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. Finally, Integral Health Asset Management LLC boosted its holdings in shares of Longboard Pharmaceuticals by 12.8% in the second quarter. Integral Health Asset Management LLC now owns 1,100,000 shares of the company’s stock worth $29,733,000 after buying an additional 125,000 shares during the last quarter. 63.28% of the stock is owned by hedge funds and other institutional investors.

Longboard Pharmaceuticals Company Profile

(Get Free Report)

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.

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