Driehaus Capital Management LLC Has $13.21 Million Holdings in Longboard Pharmaceuticals, Inc. (NASDAQ:LBPH)

Driehaus Capital Management LLC raised its stake in Longboard Pharmaceuticals, Inc. (NASDAQ:LBPH) by 25.8% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 488,793 shares of the company’s stock after acquiring an additional 100,321 shares during the quarter. Driehaus Capital Management LLC owned about 1.26% of Longboard Pharmaceuticals worth $13,212,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in LBPH. Ameritas Investment Partners Inc. boosted its stake in shares of Longboard Pharmaceuticals by 93.3% in the 1st quarter. Ameritas Investment Partners Inc. now owns 2,486 shares of the company’s stock valued at $54,000 after purchasing an additional 1,200 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in Longboard Pharmaceuticals during the 2nd quarter worth approximately $127,000. SG Americas Securities LLC bought a new position in Longboard Pharmaceuticals during the 1st quarter worth approximately $132,000. Denali Advisors LLC bought a new position in Longboard Pharmaceuticals during the 1st quarter worth approximately $201,000. Finally, Arizona State Retirement System bought a new position in Longboard Pharmaceuticals during the 2nd quarter worth approximately $216,000. Institutional investors and hedge funds own 63.28% of the company’s stock.

Longboard Pharmaceuticals Stock Up 2.6 %

NASDAQ LBPH opened at $32.00 on Friday. Longboard Pharmaceuticals, Inc. has a 12-month low of $3.60 and a 12-month high of $40.48. The company has a market capitalization of $1.24 billion, a PE ratio of -14.29 and a beta of 1.24. The firm’s 50 day moving average is $34.27 and its 200-day moving average is $26.45.

Longboard Pharmaceuticals (NASDAQ:LBPH) last issued its earnings results on Thursday, August 1st. The company reported ($0.56) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.46) by ($0.10). During the same period last year, the business posted ($0.65) EPS. As a group, sell-side analysts expect that Longboard Pharmaceuticals, Inc. will post -2.19 EPS for the current year.

Insider Buying and Selling

In related news, CMO Randall Kaye sold 16,666 shares of the business’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $31.64, for a total transaction of $527,312.24. Following the transaction, the chief marketing officer now directly owns 17,920 shares in the company, valued at $566,988.80. The sale was disclosed in a filing with the SEC, which is available through this link. 4.64% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on LBPH shares. Robert W. Baird lifted their price objective on shares of Longboard Pharmaceuticals from $36.00 to $60.00 and gave the stock an “outperform” rating in a research note on Thursday, July 11th. B. Riley lifted their price objective on shares of Longboard Pharmaceuticals from $36.00 to $45.00 and gave the stock a “buy” rating in a research note on Monday, August 5th. Cantor Fitzgerald reissued an “overweight” rating and set a $90.00 price objective on shares of Longboard Pharmaceuticals in a research note on Monday, September 16th. Citigroup raised their target price on shares of Longboard Pharmaceuticals from $45.00 to $50.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Finally, Wedbush raised 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, September 17th. Nine investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $60.11.

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.