Longboard Pharmaceuticals, Inc. (NASDAQ:LBPH - Get Free Report)'s share price traded up 6.2% during trading on Thursday . The stock traded as high as $19.41 and last traded at $19.24. 40,666 shares changed hands during trading, a decline of 97% from the average session volume of 1,466,847 shares. The stock had previously closed at $18.12.
Analyst Ratings Changes
A number of brokerages have weighed in on LBPH. HC Wainwright reaffirmed a "buy" rating and issued a $60.00 price target on shares of Longboard Pharmaceuticals in a research report on Friday, March 15th. Cantor Fitzgerald restated an "overweight" rating and issued a $60.00 price objective on shares of Longboard Pharmaceuticals in a research note on Wednesday, March 13th. Wedbush reiterated an "outperform" rating and issued a $32.00 target price on shares of Longboard Pharmaceuticals in a research note on Wednesday, March 13th. Guggenheim boosted their target price on shares of Longboard Pharmaceuticals from $16.00 to $32.00 and gave the stock a "buy" rating in a research report on Tuesday, January 2nd. Finally, Citigroup initiated coverage on Longboard Pharmaceuticals in a research report on Friday, February 16th. They issued a "buy" rating and a $40.00 price target on the stock. Six 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 target price of $39.50.
Read Our Latest Stock Analysis on Longboard Pharmaceuticals
Longboard Pharmaceuticals Trading Up 2.0 %
The stock has a market capitalization of $666.01 million, a P/E ratio of -7.77 and a beta of 1.24. The business's fifty day simple moving average is $20.77 and its two-hundred day simple moving average is $12.92.
Longboard Pharmaceuticals (NASDAQ:LBPH - Get Free Report) last announced its quarterly earnings results on Tuesday, March 12th. The company reported ($0.62) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.60) by ($0.02). On average, equities research analysts anticipate that Longboard Pharmaceuticals, Inc. will post -2.01 earnings per share for the current year.
Insider Transactions at Longboard Pharmaceuticals
In other Longboard Pharmaceuticals news, major shareholder Arena Pharmaceuticals Inc sold 3,978,540 shares of the company's stock in a transaction on Thursday, January 25th. The stock was sold at an average price of $24.25, for a total value of $96,479,595.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 5.57% of the stock is currently owned by insiders.
Institutional Investors Weigh In On Longboard Pharmaceuticals
A number of large investors have recently bought and sold shares of LBPH. FMR LLC grew its holdings in shares of Longboard Pharmaceuticals by 162.5% during the first quarter. FMR LLC now owns 2,900,392 shares of the company's stock worth $11,399,000 after purchasing an additional 1,795,488 shares during the last quarter. Polar Capital Holdings Plc acquired a new stake in shares of Longboard Pharmaceuticals in the 3rd quarter valued at $5,560,000. Vanguard Group Inc. boosted its stake in shares of Longboard Pharmaceuticals by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 786,433 shares of the company's stock valued at $4,742,000 after purchasing an additional 5,360 shares during the last quarter. BlackRock Inc. boosted its stake in Longboard Pharmaceuticals by 2,451.9% in the second quarter. BlackRock Inc. now owns 740,603 shares of the company's stock valued at $5,436,000 after acquiring an additional 711,581 shares during the last quarter. Finally, JPMorgan Chase & Co. bought a new stake in shares of Longboard Pharmaceuticals during the 2nd quarter valued at $4,164,000. 63.28% of the stock is currently owned by institutional investors.
Longboard Pharmaceuticals Company Profile
(
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.
Featured Articles
Before you consider Longboard Pharmaceuticals, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Longboard Pharmaceuticals wasn't on the list.
While Longboard Pharmaceuticals currently has a "Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Thinking about investing in Meta, Roblox, or Unity? Click the link to learn what streetwise investors need to know about the metaverse and public markets before making an investment.
Get This Free Report
