Longboard Pharmaceuticals, Inc. (NASDAQ:LBPH – Get Free Report) saw unusually-high trading volume on Tuesday . Approximately 923,918 shares traded hands during trading, a decline of 14% from the previous session’s volume of 1,075,538 shares.The stock last traded at $58.91 and had previously closed at $58.99.
Analyst Upgrades and Downgrades
LBPH has been the subject of several recent research reports. Evercore ISI reissued an “outperform” rating and issued a $80.00 price objective on shares of Longboard Pharmaceuticals in a research note on Monday, August 26th. Robert W. Baird increased their price objective on Longboard Pharmaceuticals from $36.00 to $60.00 and gave the company an “outperform” rating in a research note on Thursday, July 11th. Truist Financial reissued a “hold” rating and issued a $60.00 price objective on shares of Longboard Pharmaceuticals in a research note on Tuesday. Citigroup increased their price objective on Longboard Pharmaceuticals from $45.00 to $50.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Finally, B. Riley reissued a “neutral” rating and issued a $60.00 price objective (up from $45.00) on shares of Longboard Pharmaceuticals in a research note on Monday. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $59.56.
Check Out Our Latest Research Report on Longboard Pharmaceuticals
Longboard Pharmaceuticals Trading Up 0.2 %
Longboard Pharmaceuticals (NASDAQ:LBPH – Get Free Report) last announced its quarterly earnings data on Thursday, August 1st. The company reported ($0.56) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.46) by ($0.10). During the same quarter last year, the firm posted ($0.65) earnings per share. Equities analysts forecast that Longboard Pharmaceuticals, Inc. will post -2.19 EPS for the current fiscal year.
Insiders Place Their Bets
In other Longboard Pharmaceuticals news, CMO Randall Kaye sold 16,666 shares of Longboard Pharmaceuticals stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $31.64, for a total transaction of $527,312.24. Following the transaction, the chief marketing officer now owns 17,920 shares of the company’s stock, valued at $566,988.80. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 4.64% of the stock is currently owned by corporate insiders.
Institutional Inflows and Outflows
A number of institutional investors have recently modified their holdings of LBPH. Ameritas Investment Partners Inc. increased its holdings in shares of Longboard Pharmaceuticals by 93.3% in the first 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 period. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in shares of Longboard Pharmaceuticals in the second quarter valued at approximately $127,000. SG Americas Securities LLC acquired a new position in shares of Longboard Pharmaceuticals in the first quarter valued at approximately $132,000. Denali Advisors LLC purchased a new stake in shares of Longboard Pharmaceuticals in the first quarter valued at approximately $201,000. Finally, Arizona State Retirement System purchased a new stake in shares of Longboard Pharmaceuticals in the second quarter valued at approximately $216,000. Institutional investors and hedge funds own 63.28% of the company’s stock.
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.
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