Longboard Pharmaceuticals' (LBPH) Overweight Rating Reiterated at Cantor Fitzgerald

Longboard Pharmaceuticals (NASDAQ:LBPH - Get Free Report)'s stock had its "overweight" rating restated by equities research analysts at Cantor Fitzgerald in a report issued on Friday, Benzinga reports. They presently have a $60.00 target price on the stock. Cantor Fitzgerald's price target indicates a potential upside of 180.70% from the stock's previous close.

A number of other brokerages have also weighed in on LBPH. Wedbush upped their price objective on Longboard Pharmaceuticals from $32.00 to $34.00 and gave the stock an "outperform" rating in a report on Friday. HC Wainwright reaffirmed a "buy" rating and set a $60.00 price target on shares of Longboard Pharmaceuticals in a research note on Tuesday, April 16th. Robert W. Baird assumed coverage on shares of Longboard Pharmaceuticals in a research note on Wednesday. They issued an "outperform" rating and a $36.00 price objective for the company. Finally, Citigroup started coverage on shares of Longboard Pharmaceuticals in a research report on Friday, February 16th. They set a "buy" rating and a $40.00 price target for the company. Six investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has a consensus rating of "Buy" and a consensus target price of $43.67.

Longboard Pharmaceuticals Trading Down 6.3 %

Shares of Longboard Pharmaceuticals stock traded down $1.43 on Friday, reaching $21.38. 482,394 shares of the stock were exchanged, compared to its average volume of 1,206,861. The firm has a market capitalization of $769.93 million, a PE ratio of -9.56 and a beta of 1.25. Longboard Pharmaceuticals has a 1-year low of $3.60 and a 1-year high of $28.15. The business has a fifty day moving average price of $20.10 and a two-hundred day moving average price of $14.86.

Longboard Pharmaceuticals (NASDAQ:LBPH - Get Free Report) last released its 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). Research analysts expect that Longboard Pharmaceuticals will post -2.01 EPS for the current year.

Institutional Investors Weigh In On Longboard Pharmaceuticals

A number of institutional investors and hedge funds have recently bought and sold shares of LBPH. Bourgeon Capital Management LLC purchased a new stake in shares of Longboard Pharmaceuticals in the third quarter valued at $39,000. Denali Advisors LLC purchased a new stake in Longboard Pharmaceuticals during the 1st quarter worth about $201,000. CIBC Asset Management Inc raised its stake in Longboard Pharmaceuticals by 46.8% in the 4th quarter. CIBC Asset Management Inc now owns 212,178 shares of the company's stock valued at $1,279,000 after purchasing an additional 67,607 shares during the last quarter. TD Asset Management Inc lifted its holdings in Longboard Pharmaceuticals by 149.8% in the 3rd 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 in the last quarter. Finally, Parkman Healthcare Partners LLC grew its holdings in shares of Longboard Pharmaceuticals by 20.8% during the fourth 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 in the last quarter. Hedge funds and other institutional investors 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.