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

Cantor Fitzgerald reissued their overweight rating on shares of Longboard Pharmaceuticals (NASDAQ:LBPH) in a research report sent to investors on Friday morning, Benzinga reports. The firm currently has a $60.00 price target on the stock.

A number of other research firms also recently commented on LBPH. HC Wainwright reaffirmed a buy rating and set a $60.00 target price on shares of Longboard Pharmaceuticals in a report on Tuesday, April 16th. Wedbush raised their price objective on Longboard Pharmaceuticals from $32.00 to $34.00 and gave the stock an outperform rating in a research note on Friday. Robert W. Baird began coverage on shares of Longboard Pharmaceuticals in a report on Wednesday, May 1st. They issued an outperform rating and a $36.00 price objective for the company. 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 target price on the stock. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has an average rating of Buy and a consensus target price of $43.67.

Longboard Pharmaceuticals Trading Down 3.6 %

NASDAQ LBPH opened at $20.60 on Friday. Longboard Pharmaceuticals has a 12 month low of $3.60 and a 12 month high of $28.15. The company’s fifty day moving average price is $20.08 and its two-hundred day moving average price is $15.12.

Longboard Pharmaceuticals (NASDAQ:LBPH) last issued its earnings results on Tuesday, March 12th. The company reported ($0.62) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.60) by ($0.02). Analysts predict that Longboard Pharmaceuticals will post -2.01 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the stock. Bourgeon Capital Management LLC bought a new stake in Longboard Pharmaceuticals in the third quarter valued at $39,000. SG Americas Securities LLC acquired a new position in Longboard Pharmaceuticals during the 1st quarter valued at about $132,000. Denali Advisors LLC bought a new position in Longboard Pharmaceuticals in the 1st quarter worth about $201,000. Quantbot Technologies LP acquired a new stake in shares of Longboard Pharmaceuticals in the first quarter valued at approximately $310,000. Finally, TD Asset Management Inc raised its holdings in shares of Longboard Pharmaceuticals by 149.8% during the third quarter. TD Asset Management Inc now owns 121,422 shares of the company’s stock valued at $675,000 after buying an additional 72,811 shares during the last quarter. 63.28% of the stock is currently 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.