Cantor Fitzgerald Reaffirms “Overweight” Rating for Longboard Pharmaceuticals (NASDAQ:LBPH)

Cantor Fitzgerald restated their overweight rating on shares of Longboard Pharmaceuticals (NASDAQ:LBPHFree Report) in a research report released on Thursday, Benzinga reports. Cantor Fitzgerald currently has a $60.00 price target on the stock.

A number of other brokerages also recently issued reports on LBPH. Wedbush lifted their price target on Longboard Pharmaceuticals from $32.00 to $34.00 and gave the company an outperform rating in a report on Friday, May 3rd. Robert W. Baird began coverage on Longboard Pharmaceuticals in a report on Wednesday, May 1st. They issued an outperform rating and a $36.00 price target on the stock. HC Wainwright restated a buy rating and set a $60.00 target price on shares of Longboard Pharmaceuticals in a research note on Tuesday, June 11th. Finally, B. Riley boosted their target price on Longboard Pharmaceuticals from $30.00 to $36.00 and gave the stock a buy rating in a research note on Tuesday, June 11th. Eight equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has an average rating of Buy and an average price target of $44.38.

Read Our Latest Stock Analysis on LBPH

Longboard Pharmaceuticals Stock Up 3.3 %

LBPH opened at $20.81 on Thursday. The stock’s fifty day moving average is $19.57 and its two-hundred day moving average is $18.66. The company has a market capitalization of $809.09 million, a P/E ratio of -9.29 and a beta of 1.15. Longboard Pharmaceuticals has a 52 week low of $3.60 and a 52 week high of $28.15.

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. Equities analysts anticipate that Longboard Pharmaceuticals will post -1.82 earnings per share for the current year.

Hedge Funds Weigh In On Longboard Pharmaceuticals

Several large investors have recently bought and sold shares of the business. Ameritas Investment Partners Inc. grew its holdings in shares of Longboard Pharmaceuticals by 93.3% during the first quarter. Ameritas Investment Partners Inc. now owns 2,486 shares of the company’s stock worth $54,000 after buying an additional 1,200 shares during the last quarter. SG Americas Securities LLC purchased a new position in shares of Longboard Pharmaceuticals during the first quarter worth about $132,000. Denali Advisors LLC purchased a new position in shares of Longboard Pharmaceuticals during the first quarter worth about $201,000. American International Group Inc. grew its holdings in shares of Longboard Pharmaceuticals by 58.6% during 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 last quarter. Finally, Quantbot Technologies LP purchased a new position in shares of Longboard Pharmaceuticals during the first quarter worth about $310,000. Hedge funds and other 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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