Randall Kaye Sells 16,667 Shares of Longboard Pharmaceuticals, Inc. (NASDAQ:LBPH) Stock

Longboard Pharmaceuticals, Inc. (NASDAQ:LBPH) CMO Randall Kaye sold 16,667 shares of the firm’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $59.03, for a total transaction of $983,853.01. Following the sale, the chief marketing officer now owns 17,920 shares of the company’s stock, valued at $1,057,817.60. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

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

• On Monday, September 16th, Randall Kaye sold 16,666 shares of Longboard Pharmaceuticals stock. The shares were sold at an average price of $31.64, for a total value of $527,312.24.
• 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.

Longboard Pharmaceuticals Stock Up 0.5 %

NASDAQ:LBPH traded up $0.32 during trading hours on Wednesday, reaching $59.40. The company had a trading volume of 2,934,358 shares, compared to its average volume of 1,102,764. The stock has a 50-day moving average of $35.38 and a two-hundred day moving average of $28.09. Longboard Pharmaceuticals, Inc. has a one year low of $3.60 and a one year high of $59.47. The firm has a market capitalization of $2.31 billion, a PE ratio of -26.42 and a beta of 1.22.

Longboard Pharmaceuticals (NASDAQ:LBPH) last released its quarterly earnings results on Thursday, August 1st. The company reported ($0.56) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.46) by ($0.10). During the same quarter last year, the company earned ($0.65) earnings per share. As a group, sell-side analysts expect that Longboard Pharmaceuticals, Inc. will post -2.19 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts recently commented on LBPH shares. HC Wainwright reaffirmed a “neutral” rating and issued a $60.00 price objective (down previously from $80.00) on shares of Longboard Pharmaceuticals in a research note on Tuesday. Truist Financial reissued a “hold” rating and set a $60.00 price target on shares of Longboard Pharmaceuticals in a research report on Tuesday. Cantor Fitzgerald reissued a “neutral” rating on shares of Longboard Pharmaceuticals in a research note on Monday. Robert W. Baird lifted 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. Finally, Wedbush lowered shares of Longboard Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research report on Monday. Five research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, Longboard Pharmaceuticals presently has a consensus rating of “Hold” and an average price target of $59.56.

Institutional Investors Weigh In On Longboard Pharmaceuticals

Institutional investors have recently modified their holdings of the business. Jennison Associates LLC grew its stake in shares of Longboard Pharmaceuticals by 96.0% during the first quarter. Jennison Associates LLC now owns 942,404 shares of the company’s stock worth $20,356,000 after purchasing an additional 461,576 shares during the period. Swiss National Bank bought a new stake in shares of Longboard Pharmaceuticals in the 1st quarter valued at about $914,000. Quantbot Technologies LP acquired a new stake in shares of Longboard Pharmaceuticals in the 1st quarter valued at approximately $310,000. Price T Rowe Associates Inc. MD boosted its stake in Longboard Pharmaceuticals by 36.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,217,995 shares of the company’s stock worth $47,910,000 after acquiring an additional 591,013 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in Longboard Pharmaceuticals by 34.5% during the second quarter. Bank of New York Mellon Corp now owns 92,664 shares of the company’s stock valued at $2,505,000 after purchasing an additional 23,774 shares during the period. Institutional investors and hedge funds 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.