Longboard Pharmaceuticals (NASDAQ:LBPH) Earns Buy Rating from HC Wainwright

Longboard Pharmaceuticals (NASDAQ:LBPHGet Free Report)‘s stock had its “buy” rating reiterated by investment analysts at HC Wainwright in a note issued to investors on Tuesday, Benzinga reports. They presently have a $60.00 target price on the stock. HC Wainwright’s price target points to a potential upside of 223.62% from the company’s previous close.

Several other research firms have also recently weighed in on LBPH. Citigroup began coverage on shares of Longboard Pharmaceuticals in a report on Friday, February 16th. They set a “buy” rating and a $40.00 price objective for the company. Robert W. Baird began coverage on Longboard Pharmaceuticals in a research report on Wednesday, May 1st. They issued an “outperform” rating and a $36.00 target price on the stock. Cantor Fitzgerald reiterated an “overweight” rating and issued a $60.00 price target on shares of Longboard Pharmaceuticals in a research report on Friday, May 3rd. Finally, Wedbush upped their price target on Longboard Pharmaceuticals from $32.00 to $34.00 and gave the stock an “outperform” rating in a research report on Friday, May 3rd. Six analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $43.67.

Read Our Latest Stock Report on LBPH

Longboard Pharmaceuticals Stock Performance

Shares of LBPH traded up $0.43 on Tuesday, hitting $18.54. 200,498 shares of the stock traded hands, compared to its average volume of 984,406. The business has a 50 day simple moving average of $19.47 and a 200 day simple moving average of $17.79. Longboard Pharmaceuticals has a one year low of $3.60 and a one year high of $28.15. The company has a market capitalization of $720.84 million, a PE ratio of -8.10 and a beta of 1.16.

Longboard Pharmaceuticals (NASDAQ:LBPHGet Free Report) last announced its quarterly earnings results on Thursday, May 2nd. The company reported ($0.42) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.48) by $0.06. On average, equities analysts expect that Longboard Pharmaceuticals will post -1.85 earnings per share for the current year.

Hedge Funds Weigh In On Longboard Pharmaceuticals

A number of hedge funds and other institutional investors have recently modified their holdings of LBPH. Ameritas Investment Partners Inc. raised its position in shares of Longboard Pharmaceuticals by 93.3% during the 1st quarter. Ameritas Investment Partners Inc. now owns 2,486 shares of the company’s stock valued at $54,000 after buying an additional 1,200 shares in the last quarter. SG Americas Securities LLC bought a new position in shares of Longboard Pharmaceuticals during the first quarter valued at approximately $132,000. Denali Advisors LLC bought a new position in shares of Longboard Pharmaceuticals during the first quarter valued at approximately $201,000. American International Group Inc. raised its holdings in shares of Longboard Pharmaceuticals by 58.6% in the first quarter. American International Group Inc. now owns 12,283 shares of the company’s stock worth $265,000 after buying an additional 4,540 shares during the period. Finally, Quantbot Technologies LP bought a new position in Longboard Pharmaceuticals in the 1st quarter valued at $310,000. Institutional investors own 63.28% of the company’s stock.

About Longboard Pharmaceuticals

(Get Free Report)

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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Analyst Recommendations for Longboard Pharmaceuticals (NASDAQ:LBPH)

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