Longboard Pharmaceuticals, Inc. (NASDAQ:LBPH) CMO Sells $527,312.24 in Stock

Longboard Pharmaceuticals, Inc. (NASDAQ:LBPH) CMO Randall Kaye sold 16,666 shares of the 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Randall Kaye also recently made the following trade(s):

• On Monday, August 12th, Randall Kaye sold 16,667 shares of Longboard Pharmaceuticals stock. The shares were sold at an average price of $34.73, for a total transaction of $578,844.91.
• On Tuesday, June 25th, Randall Kaye sold 100 shares of Longboard Pharmaceuticals stock. The shares were sold at an average price of $20.87, for a total transaction of $2,087.00.

Longboard Pharmaceuticals Price Performance

Shares of LBPH stock opened at $29.31 on Thursday. The firm’s 50-day moving average is $34.96 and its two-hundred day moving average is $25.84. 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 $1.14 billion, a PE ratio of -13.08 and a beta of 1.24.

Longboard Pharmaceuticals (NASDAQ:LBPH) last issued its earnings results on Thursday, August 1st. The company reported ($0.56) EPS for the quarter, missing analysts’ consensus estimates of ($0.46) by ($0.10). During the same period in the prior year, the firm earned ($0.65) EPS. Sell-side analysts forecast that Longboard Pharmaceuticals, Inc. will post -2.13 EPS for the current year.

Hedge Funds Weigh In On Longboard Pharmaceuticals

Institutional investors have recently bought and sold shares of the company. CIBC Asset Management Inc raised its stake in Longboard Pharmaceuticals by 46.8% during the fourth quarter. CIBC Asset Management Inc now owns 212,178 shares of the company’s stock worth $1,279,000 after purchasing an additional 67,607 shares during the period. Parkman Healthcare Partners LLC increased its position in shares of Longboard Pharmaceuticals by 20.8% during the fourth quarter. Parkman Healthcare Partners LLC now owns 429,892 shares of the company’s stock valued at $2,592,000 after acquiring an additional 73,935 shares during the last quarter. Platinum Investment Management Ltd. acquired a new stake in shares of Longboard Pharmaceuticals during the fourth quarter valued at about $766,000. Jennison Associates LLC increased its position in shares of Longboard Pharmaceuticals by 96.0% during the first quarter. Jennison Associates LLC now owns 942,404 shares of the company’s stock valued at $20,356,000 after acquiring an additional 461,576 shares during the last quarter. Finally, Swiss National Bank acquired a new stake in shares of Longboard Pharmaceuticals during the first quarter valued at about $914,000. 63.28% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

LBPH has been the topic of several recent analyst reports. Wedbush increased their price objective on shares of Longboard Pharmaceuticals from $40.00 to $44.00 and gave the company an “outperform” rating in a report on Tuesday. Robert W. Baird increased their price objective on shares of Longboard Pharmaceuticals from $36.00 to $60.00 and gave the company an “outperform” rating in a report on Thursday, July 11th. Evercore ISI reissued an “outperform” rating and issued a $80.00 price target on shares of Longboard Pharmaceuticals in a research note on Monday, August 26th. B. Riley raised their price target 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. Finally, Citigroup raised their price target on shares of Longboard Pharmaceuticals from $45.00 to $50.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Nine analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently 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.