Longboard Pharmaceuticals (NASDAQ:LBPH) Rating Reiterated by HC Wainwright

HC Wainwright reiterated their buy rating on shares of Longboard Pharmaceuticals (NASDAQ:LBPH) in a research note issued to investors on Tuesday morning, Benzinga reports. They currently have a $60.00 price target on the stock. HC Wainwright also issued estimates for Longboard Pharmaceuticals’ Q2 2024 earnings at ($0.41) EPS, FY2024 earnings at ($1.69) EPS, Q1 2025 earnings at ($0.47) EPS, Q2 2025 earnings at ($0.50) EPS, Q3 2025 earnings at ($0.55) EPS and Q4 2025 earnings at ($0.60) EPS.

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

Longboard Pharmaceuticals Stock Down 8.5 %

Shares of Longboard Pharmaceuticals stock opened at $20.12 on Tuesday. Longboard Pharmaceuticals has a 12 month low of $3.60 and a 12 month high of $28.15. The business has a fifty day simple moving average of $19.93 and a 200 day simple moving average of $15.55. The stock has a market cap of $724.72 million, a PE ratio of -8.98 and a beta of 1.25.

Longboard Pharmaceuticals (NASDAQ:LBPH) last announced its quarterly earnings results on Tuesday, March 12th. The company reported ($0.62) EPS for the quarter, missing analysts’ consensus estimates of ($0.60) by ($0.02). Analysts expect that Longboard Pharmaceuticals will post -1.85 EPS for the current fiscal year.

Institutional Investors Weigh In On Longboard Pharmaceuticals

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in shares of Longboard Pharmaceuticals by 119.3% during the 1st quarter. Vanguard Group Inc. now owns 1,724,431 shares of the company’s stock worth $37,248,000 after acquiring an additional 937,998 shares in the last quarter. Polar Capital Holdings Plc bought a new position in Longboard Pharmaceuticals in the third quarter valued at $5,560,000. Jennison Associates LLC increased its stake in Longboard Pharmaceuticals by 96.0% in the 1st quarter. Jennison Associates LLC now owns 942,404 shares of the company’s stock valued at $20,356,000 after buying an additional 461,576 shares during the last quarter. Lord Abbett & CO. LLC bought a new stake in Longboard Pharmaceuticals during the 1st quarter worth about $10,264,000. Finally, Parkman Healthcare Partners LLC boosted its stake in shares of Longboard Pharmaceuticals by 20.8% during the 4th quarter. Parkman Healthcare Partners LLC now owns 429,892 shares of the company’s stock worth $2,592,000 after buying an additional 73,935 shares during the last quarter. 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.