Longboard Pharmaceuticals’ (LBPH) “Buy” Rating Reiterated at HC Wainwright

HC Wainwright restated their buy rating on shares of Longboard Pharmaceuticals (NASDAQ:LBPH) in a research report report published on Tuesday, Benzinga reports. The brokerage currently has a $60.00 price target on the stock.

LBPH has been the topic of a number of other research reports. Cantor Fitzgerald reaffirmed an overweight rating and issued a $60.00 price objective on shares of Longboard Pharmaceuticals in a report on Friday, May 3rd. Robert W. Baird started coverage on shares of Longboard Pharmaceuticals in a research note on Wednesday, May 1st. They issued an outperform rating and a $36.00 price target on the stock. Citigroup began coverage on Longboard Pharmaceuticals in a report on Friday, February 16th. They set a buy rating and a $40.00 price target on the stock. Finally, Wedbush increased their price objective on Longboard Pharmaceuticals from $32.00 to $34.00 and gave the stock an outperform rating in a report on Friday, May 3rd. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has an average rating of Buy and an average target price of $43.67.

Longboard Pharmaceuticals Trading Up 7.0 %

Shares of Longboard Pharmaceuticals stock opened at $22.05 on Tuesday. The stock has a market capitalization of $794.06 million, a price-to-earnings ratio of -9.84 and a beta of 1.25. Longboard Pharmaceuticals has a twelve month low of $3.60 and a twelve month high of $28.15. The business’s 50 day simple moving average is $20.03 and its 200-day simple moving average is $15.23.

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

Institutional Trading of Longboard Pharmaceuticals

Institutional investors have recently made changes to their positions in the stock. SG Americas Securities LLC acquired a new position in shares of Longboard Pharmaceuticals during the first quarter valued at approximately $132,000. Bourgeon Capital Management LLC bought a new position in Longboard Pharmaceuticals during the 3rd quarter valued at $39,000. Denali Advisors LLC acquired a new position in shares of Longboard Pharmaceuticals during the 1st quarter valued at $201,000. Quantbot Technologies LP acquired a new position in shares of Longboard Pharmaceuticals during the 1st quarter valued at $310,000. Finally, Sei Investments Co. bought a new stake in shares of Longboard Pharmaceuticals in the 1st quarter worth $429,000. 63.28% of the stock is owned by institutional investors and hedge funds.

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.