Research Analysts’ Weekly Ratings Changes for Longboard Pharmaceuticals (LBPH)

Posted by Teresa Graham on Oct 16th, 2024

A number of firms have modified their ratings and price targets on shares of Longboard Pharmaceuticals (NASDAQ: LBPH) recently:

10/15/2024 – Longboard Pharmaceuticals had its “neutral” rating reaffirmed by analysts at HC Wainwright. They now have a $60.00 price target on the stock, down previously from $80.00.
10/15/2024 – Longboard Pharmaceuticals had its “hold” rating reaffirmed by analysts at Truist Financial Co.. They now have a $60.00 price target on the stock.
10/14/2024 – Longboard Pharmaceuticals had its “neutral” rating reaffirmed by analysts at B. Riley. They now have a $60.00 price target on the stock, up previously from $45.00.
10/14/2024 – Longboard Pharmaceuticals had its “neutral” rating reaffirmed by analysts at Cantor Fitzgerald.
10/14/2024 – Longboard Pharmaceuticals was downgraded by analysts at Wedbush from a “strong-buy” rating to a “hold” rating.
9/18/2024 – Longboard Pharmaceuticals had its price target raised by analysts at HC Wainwright from $60.00 to $80.00. They now have a “buy” rating on the stock.
9/17/2024 – Longboard Pharmaceuticals had its price target raised by analysts at Wedbush from $40.00 to $44.00. They now have an “outperform” rating on the stock.
9/16/2024 – Longboard Pharmaceuticals had its “overweight” rating reaffirmed by analysts at Cantor Fitzgerald. They now have a $90.00 price target on the stock.
9/10/2024 – Longboard Pharmaceuticals is now covered by analysts at Truist Financial Co.. They set a “buy” rating and a $60.00 price target on the stock.
8/26/2024 – Longboard Pharmaceuticals had its “outperform” rating reaffirmed by analysts at Evercore ISI. They now have a $80.00 price target on the stock.
8/22/2024 – Longboard Pharmaceuticals had its “buy” rating reaffirmed by analysts at HC Wainwright. They now have a $60.00 price target on the stock.

Longboard Pharmaceuticals Stock Performance

Shares of LBPH stock traded up $0.15 during mid-day trading on Wednesday, hitting $59.23. The company’s stock had a trading volume of 1,099,753 shares, compared to its average volume of 1,093,591. The company has a market cap of $2.30 billion, a PE ratio of -26.44 and a beta of 1.22. The company’s fifty day simple moving average is $35.38 and its 200-day simple moving average is $28.09. Longboard Pharmaceuticals, Inc. has a 52 week low of $3.60 and a 52 week high of $59.30.

Longboard Pharmaceuticals (NASDAQ:LBPH – Get Free Report) last issued its earnings results on Thursday, August 1st. The company reported ($0.56) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.46) by ($0.10). During the same period last year, the company posted ($0.65) earnings per share. On average, equities analysts anticipate that Longboard Pharmaceuticals, Inc. will post -2.19 earnings per share for the current year.

Insider Activity

In related news, CMO Randall Kaye sold 16,667 shares of the stock in a transaction on Monday, August 12th. The shares were sold at an average price of $34.73, for a total transaction of $578,844.91. Following the transaction, the chief marketing officer now directly owns 17,920 shares of the company’s stock, valued at $622,361.60. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 4.64% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Longboard Pharmaceuticals

Institutional investors have recently made changes to their positions in the stock. Ameritas Investment Partners Inc. increased its position in Longboard Pharmaceuticals by 93.3% in the 1st quarter. Ameritas Investment Partners Inc. now owns 2,486 shares of the company’s stock valued at $54,000 after buying an additional 1,200 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in shares of Longboard Pharmaceuticals during the second quarter worth approximately $127,000. SG Americas Securities LLC bought a new position in shares of Longboard Pharmaceuticals in the 1st quarter worth $132,000. Denali Advisors LLC acquired a new stake in Longboard Pharmaceuticals in the 1st quarter valued at $201,000. Finally, Arizona State Retirement System bought a new stake in Longboard Pharmaceuticals during the 2nd quarter valued at $216,000. Institutional investors and hedge funds own 63.28% of the company’s stock.

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.