Longboard Pharmaceuticals (NASDAQ:LBPH) Receives “Neutral” Rating from B. Riley

B. Riley restated their neutral rating on shares of Longboard Pharmaceuticals (NASDAQ:LBPH) in a research note issued to investors on Monday morning, MarketBeat.com reports. The brokerage currently has a $60.00 target price on the stock, up from their prior target price of $45.00.

LBPH has been the subject of a number of other reports. Cantor Fitzgerald restated a “neutral” rating on shares of Longboard Pharmaceuticals in a research note on Monday. Wedbush increased their price objective on shares of Longboard Pharmaceuticals from $40.00 to $44.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 17th. Truist Financial began coverage on shares of Longboard Pharmaceuticals in a research note on Tuesday, September 10th. They set a “buy” rating and a $60.00 price objective for the company. Citigroup upped their target price on shares of Longboard Pharmaceuticals from $45.00 to $50.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Finally, HC Wainwright upped their target price on shares of Longboard Pharmaceuticals from $60.00 to $80.00 and gave the company a “buy” rating in a report on Wednesday, September 18th. Five investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $59.56.

Longboard Pharmaceuticals Trading Down 0.4 %

Shares of NASDAQ LBPH opened at $59.17 on Monday. The firm has a market cap of $2.30 billion, a PE ratio of -26.42 and a beta of 1.22. Longboard Pharmaceuticals has a 1-year low of $3.60 and a 1-year high of $59.47. The company has a fifty day moving average price of $36.31 and a 200 day moving average price of $28.53.

Longboard Pharmaceuticals (NASDAQ:LBPH) last posted its quarterly earnings data 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 business posted ($0.65) EPS. Equities research analysts forecast that Longboard Pharmaceuticals will post -2.19 EPS for the current year.

Insider Buying and Selling at Longboard Pharmaceuticals

In other Longboard Pharmaceuticals news, CMO Randall Kaye sold 16,667 shares of the stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $59.03, for a total value of $983,853.01. Following the transaction, the chief marketing officer now directly owns 17,920 shares of the company’s stock, valued at $1,057,817.60. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold a total of 50,000 shares of company stock valued at $2,090,010 in the last three months. 4.64% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of LBPH. SG Americas Securities LLC bought a new position in shares of Longboard Pharmaceuticals during the third quarter worth approximately $350,000. Driehaus Capital Management LLC raised its position in shares of Longboard Pharmaceuticals by 25.8% in the second quarter. Driehaus Capital Management LLC now owns 488,793 shares of the company’s stock valued at $13,212,000 after buying an additional 100,321 shares in the last quarter. Lynx1 Capital Management LP acquired a new stake in shares of Longboard Pharmaceuticals in the second quarter valued at approximately $4,523,000. The Manufacturers Life Insurance Company raised its position in shares of Longboard Pharmaceuticals by 40.2% in the second quarter. The Manufacturers Life Insurance Company now owns 117,739 shares of the company’s stock valued at $3,182,000 after buying an additional 33,755 shares in the last quarter. Finally, Squarepoint Ops LLC raised its position in shares of Longboard Pharmaceuticals by 30.4% in the second quarter. Squarepoint Ops LLC now owns 13,972 shares of the company’s stock valued at $378,000 after buying an additional 3,260 shares in the last quarter. 63.28% of the stock is owned by institutional investors.

About Longboard Pharmaceuticals

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.