Q2 2024 EPS Estimates for Longboard Pharmaceuticals, Inc. (NASDAQ:LBPH) Reduced by Analyst

Longboard Pharmaceuticals, Inc. (NASDAQ:LBPH) – Research analysts at HC Wainwright reduced their Q2 2024 earnings estimates for shares of Longboard Pharmaceuticals in a research note issued to investors on Tuesday, May 7th. HC Wainwright analyst P. Trucchio now expects that the company will post earnings per share of ($0.41) for the quarter, down from their prior forecast of ($0.40). HC Wainwright has a “Buy” rating and a $60.00 price target on the stock. The consensus estimate for Longboard Pharmaceuticals’ current full-year earnings is ($1.85) per share. HC Wainwright also issued estimates for Longboard Pharmaceuticals’ 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.

Longboard Pharmaceuticals (NASDAQ:LBPH) last announced its quarterly earnings results on Tuesday, March 12th. The company reported ($0.62) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.60) by ($0.02).

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

Longboard Pharmaceuticals Trading Down 8.5 %

Shares of LBPH stock opened at $20.12 on Friday. Longboard Pharmaceuticals has a twelve month low of $3.60 and a twelve month high of $28.15. The stock has a fifty day simple moving average of $19.93 and a two-hundred day simple moving average of $15.55. The stock has a market capitalization of $724.66 million, a price-to-earnings ratio of -8.98 and a beta of 1.25.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Jennison Associates LLC acquired a new stake in Longboard Pharmaceuticals in the fourth quarter valued at approximately $2,899,000. TD Asset Management Inc increased its position in Longboard Pharmaceuticals by 149.8% during the 3rd quarter. TD Asset Management Inc now owns 121,422 shares of the company’s stock valued at $675,000 after buying an additional 72,811 shares in the last quarter. Polar Capital Holdings Plc purchased a new stake in Longboard Pharmaceuticals in the third quarter valued at about $5,560,000. Bourgeon Capital Management LLC acquired a new stake in Longboard Pharmaceuticals in the third quarter worth about $39,000. Finally, SG Americas Securities LLC purchased a new stake in shares of Longboard Pharmaceuticals during the first quarter worth about $132,000. Hedge funds and other institutional investors own 63.28% of the company’s stock.

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.