Randall Kaye Sells 16,666 Shares of Longboard Pharmaceuticals, Inc. (NASDAQ:LBPH) Stock

Longboard Pharmaceuticals, Inc. (NASDAQ:LBPH) CMO Randall Kaye sold 16,666 shares of the business’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $31.64, for a total transaction of $527,312.24. Following the completion of the sale, the chief marketing officer now owns 17,920 shares in the company, valued at $566,988.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Randall Kaye also recently made the following trade(s):

• On Monday, August 12th, Randall Kaye sold 16,667 shares of Longboard Pharmaceuticals stock. The shares were sold at an average price of $34.73, for a total transaction of $578,844.91.
• On Tuesday, June 25th, Randall Kaye sold 100 shares of Longboard Pharmaceuticals stock. The shares were sold at an average price of $20.87, for a total value of $2,087.00.

Longboard Pharmaceuticals Trading Down 10.4 %

Shares of Longboard Pharmaceuticals stock traded down $3.58 during trading hours on Monday, reaching $30.74. The stock had a trading volume of 487,366 shares, compared to its average volume of 858,177. The firm has a market capitalization of $1.20 billion, a price-to-earnings ratio of -13.72 and a beta of 1.24. Longboard Pharmaceuticals, Inc. has a 1 year low of $3.60 and a 1 year high of $40.48. The firm has a 50 day simple moving average of $35.24 and a two-hundred day simple moving average of $25.78.

Longboard Pharmaceuticals (NASDAQ:LBPH) last posted its quarterly earnings results on Thursday, August 1st. The company reported ($0.56) EPS for the quarter, missing the consensus estimate of ($0.46) by ($0.10). During the same quarter in the previous year, the firm posted ($0.65) EPS. Sell-side analysts forecast that Longboard Pharmaceuticals, Inc. will post -2.13 EPS for the current year.

Wall Street Analyst Weigh In

LBPH has been the topic of several recent analyst reports. Citigroup upped their price objective on shares of Longboard Pharmaceuticals from $45.00 to $50.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. HC Wainwright reaffirmed a “buy” rating and issued a $60.00 price objective on shares of Longboard Pharmaceuticals in a research report on Thursday, August 22nd. Robert W. Baird upped their target price on Longboard Pharmaceuticals from $36.00 to $60.00 and gave the company an “outperform” rating in a research note on Thursday, July 11th. Evercore ISI reissued an “outperform” rating and issued a $80.00 price target on shares of Longboard Pharmaceuticals in a research note on Monday, August 26th. Finally, Truist Financial assumed coverage on shares of Longboard Pharmaceuticals in a research note on Tuesday, September 10th. They set a “buy” rating and a $60.00 price objective for the company. Nine investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $57.44.

Hedge Funds Weigh In On Longboard Pharmaceuticals

Hedge funds and other institutional investors have recently made changes to their positions in the business. RA Capital Management L.P. acquired a new stake in Longboard Pharmaceuticals in the 1st quarter valued at $71,045,000. Farallon Capital Management LLC boosted its position in shares of Longboard Pharmaceuticals by 88.4% in the first quarter. Farallon Capital Management LLC now owns 2,940,500 shares of the company’s stock worth $63,515,000 after buying an additional 1,380,000 shares during the period. Price T Rowe Associates Inc. MD grew its stake in shares of Longboard Pharmaceuticals by 36.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 2,217,995 shares of the company’s stock valued at $47,910,000 after buying an additional 591,013 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Longboard Pharmaceuticals by 119.3% during the 1st quarter. Vanguard Group Inc. now owns 1,724,431 shares of the company’s stock valued at $37,248,000 after buying an additional 937,998 shares during the period. Finally, Integral Health Asset Management LLC lifted its position in Longboard Pharmaceuticals by 12.8% during the 2nd quarter. Integral Health Asset Management LLC now owns 1,100,000 shares of the company’s stock worth $29,733,000 after acquiring an additional 125,000 shares in the last quarter. Institutional investors and hedge funds 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.