Robert W. Baird Begins Coverage on Longboard Pharmaceuticals (NASDAQ:LBPH)

Robert W. Baird initiated coverage on shares of Longboard Pharmaceuticals (NASDAQ:LBPH - Free Report) in a report issued on Wednesday, Marketbeat.com reports. The brokerage issued an outperform rating and a $36.00 target price on the stock.

Other analysts also recently issued research reports about the stock. Wedbush reiterated an outperform rating and issued a $32.00 price target on shares of Longboard Pharmaceuticals in a research report on Wednesday, March 13th. HC Wainwright reiterated a buy rating and set a $60.00 target price on shares of Longboard Pharmaceuticals in a research note on Tuesday, April 16th. Citigroup initiated coverage on Longboard Pharmaceuticals in a research note on Friday, February 16th. They set a buy rating and a $40.00 price objective for the company. Cantor Fitzgerald reiterated an overweight rating and issued a $60.00 target price on shares of Longboard Pharmaceuticals in a research note on Wednesday, April 10th. Finally, Guggenheim upped their price target on Longboard Pharmaceuticals from $16.00 to $32.00 and gave the stock a buy rating in a research note on Tuesday, January 2nd. Six investment analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has a consensus rating of Buy and an average price target of $43.33.

Longboard Pharmaceuticals Price Performance

Shares of LBPH traded up $0.66 during midday trading on Wednesday, reaching $21.96. 410,012 shares of the stock were exchanged, compared to its average volume of 1,226,354. Longboard Pharmaceuticals has a twelve month low of $3.60 and a twelve month high of $28.15. The company has a market capitalization of $790.93 million, a price-to-earnings ratio of -9.23 and a beta of 1.24. The business's 50-day moving average price is $20.05 and its 200 day moving average price is $14.76.

Longboard Pharmaceuticals (NASDAQ:LBPH - Get Free Report) last released its quarterly earnings results on Tuesday, March 12th. The company reported ($0.62) EPS for the quarter, missing the consensus estimate of ($0.60) by ($0.02). As a group, equities research analysts expect that Longboard Pharmaceuticals will post -2.01 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of LBPH. Bourgeon Capital Management LLC acquired a new position in Longboard Pharmaceuticals during the third quarter worth $39,000. Denali Advisors LLC purchased a new stake in shares of Longboard Pharmaceuticals in the first quarter valued at about $201,000. TD Asset Management Inc grew its position in shares of Longboard Pharmaceuticals by 149.8% in the third quarter. TD Asset Management Inc now owns 121,422 shares of the company's stock valued at $675,000 after purchasing an additional 72,811 shares during the last quarter. Platinum Investment Management Ltd. acquired a new position in shares of Longboard Pharmaceuticals during the 4th quarter worth approximately $766,000. Finally, CIBC Asset Management Inc increased its position in Longboard Pharmaceuticals by 46.8% during the fourth quarter. CIBC Asset Management Inc now owns 212,178 shares of the company's stock worth $1,279,000 after buying an additional 67,607 shares in the last quarter. 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.