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

Longboard Pharmaceuticals, Inc. (NASDAQ:LBPHGet Free Report) has been given an average recommendation of “Buy” by the six ratings firms that are covering the stock, Marketbeat Ratings reports. Six equities research analysts have rated the stock with a buy recommendation. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $43.67.

LBPH has been the topic of several analyst reports. Citigroup initiated coverage on shares of Longboard Pharmaceuticals in a report on Friday, February 16th. They issued a “buy” rating and a $40.00 price target on the stock. HC Wainwright reissued a “buy” rating and issued a $60.00 price target on shares of Longboard Pharmaceuticals in a report on Tuesday, May 7th. Robert W. Baird initiated coverage on shares of Longboard Pharmaceuticals in a report on Wednesday, May 1st. They issued an “outperform” rating and a $36.00 price target on the stock. Wedbush boosted their price target on shares of Longboard Pharmaceuticals from $32.00 to $34.00 and gave the company an “outperform” rating in a report on Friday, May 3rd. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $60.00 price target on shares of Longboard Pharmaceuticals in a report on Friday, May 3rd.

View Our Latest Report on LBPH

Longboard Pharmaceuticals Trading Down 1.7 %

Shares of LBPH stock opened at $17.90 on Friday. Longboard Pharmaceuticals has a 1 year low of $3.60 and a 1 year high of $28.15. The firm’s fifty day simple moving average is $19.82 and its 200 day simple moving average is $16.93. The firm has a market capitalization of $695.95 million, a P/E ratio of -7.99 and a beta of 1.25.

Longboard Pharmaceuticals (NASDAQ:LBPHGet Free Report) last announced its earnings results on Thursday, May 2nd. The company reported ($0.42) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.48) by $0.06. Equities research analysts anticipate that Longboard Pharmaceuticals will post -1.85 EPS for the current fiscal year.

Institutional Investors Weigh In On Longboard Pharmaceuticals

Several institutional investors and hedge funds have recently made changes to their positions in LBPH. Jennison Associates LLC acquired a new position in Longboard Pharmaceuticals during the 4th quarter worth about $2,899,000. Polar Capital Holdings Plc bought a new stake in Longboard Pharmaceuticals during the 3rd quarter worth about $5,560,000. SG Americas Securities LLC bought a new stake in Longboard Pharmaceuticals during the 1st quarter worth about $132,000. Ameritas Investment Partners Inc. raised its holdings in Longboard Pharmaceuticals by 93.3% during the 1st quarter. Ameritas Investment Partners Inc. now owns 2,486 shares of the company’s stock worth $54,000 after purchasing an additional 1,200 shares during the last quarter. Finally, Swiss National Bank bought a new stake in Longboard Pharmaceuticals during the 1st quarter worth about $914,000. Institutional investors and hedge funds own 63.28% of the company’s stock.

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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Analyst Recommendations for Longboard Pharmaceuticals (NASDAQ:LBPH)

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