UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Has $1.84 Million Stake in Longboard Pharmaceuticals, Inc. (NASDAQ:LBPH)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Longboard Pharmaceuticals, Inc. (NASDAQ:LBPH) by 10.0% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 55,079 shares of the company’s stock after buying an additional 5,023 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.14% of Longboard Pharmaceuticals worth $1,836,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Emerald Advisers LLC grew its holdings in shares of Longboard Pharmaceuticals by 199.2% during the 3rd quarter. Emerald Advisers LLC now owns 683,642 shares of the company’s stock worth $22,786,000 after purchasing an additional 455,119 shares in the last quarter. Braun Stacey Associates Inc. acquired a new position in shares of Longboard Pharmaceuticals in the 3rd quarter valued at approximately $9,971,000. Emerald Mutual Fund Advisers Trust lifted its stake in Longboard Pharmaceuticals by 128.5% during the third quarter. Emerald Mutual Fund Advisers Trust now owns 419,462 shares of the company’s stock worth $13,981,000 after purchasing an additional 235,885 shares during the last quarter. Candriam S.C.A. bought a new stake in shares of Longboard Pharmaceuticals during the 2nd quarter worth $6,106,000. Finally, American Century Companies Inc. grew its position in Longboard Pharmaceuticals by 70.2% in the second quarter. American Century Companies Inc. now owns 476,390 shares of the company’s stock valued at $12,877,000 after acquiring an additional 196,464 shares during the last quarter. Institutional investors own 63.28% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. Evercore ISI reiterated an “outperform” rating and issued a $80.00 target price on shares of Longboard Pharmaceuticals in a research report on Monday, August 26th. HC Wainwright restated a “neutral” rating and issued a $60.00 price target (down from $80.00) on shares of Longboard Pharmaceuticals in a research report on Tuesday, October 15th. Wedbush lowered shares of Longboard Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a report on Monday, October 14th. Truist Financial restated a “hold” rating and issued a $60.00 price objective on shares of Longboard Pharmaceuticals in a report on Tuesday, October 15th. Finally, B. Riley reaffirmed a “neutral” rating and set a $60.00 target price (up from $45.00) on shares of Longboard Pharmaceuticals in a report on Monday, October 14th. Five research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, Longboard Pharmaceuticals has a consensus rating of “Hold” and an average price target of $59.56.

Longboard Pharmaceuticals Price Performance

Shares of NASDAQ:LBPH opened at $59.98 on Monday. The company has a market capitalization of $2.34 billion, a PE ratio of -26.90 and a beta of 1.00. Longboard Pharmaceuticals, Inc. has a 1 year low of $3.60 and a 1 year high of $60.03. The business has a fifty day moving average price of $57.22 and a two-hundred day moving average price of $40.21.

Longboard Pharmaceuticals (NASDAQ:LBPH) last posted its quarterly earnings data on Thursday, November 7th. The company reported ($0.63) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.59) by ($0.04). Sell-side analysts anticipate that Longboard Pharmaceuticals, Inc. will post -2.22 earnings per share for the current year.

Insiders Place Their Bets

In other news, CMO Randall Kaye sold 16,667 shares of the stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $59.03, for a total transaction of $983,853.01. Following the completion of the transaction, the chief marketing officer now owns 17,920 shares in the company, valued at approximately $1,057,817.60. This represents a 48.19 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 4.64% of the company’s stock.

Longboard Pharmaceuticals 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.