Longboard Pharmaceuticals (NASDAQ:LBPH) Earns Outperform Rating from Analysts at Robert W. Baird

Robert W. Baird initiated coverage on shares of Longboard Pharmaceuticals (NASDAQ:LBPH) in a research note issued to investors on Wednesday, MarketBeat Ratings reports. The brokerage issued an outperform rating and a $36.00 price target on the stock.

LBPH has been the subject of a number of other research reports. Guggenheim raised their price target on shares of Longboard Pharmaceuticals from $16.00 to $32.00 and gave the stock a buy rating in a report on Tuesday, January 2nd. HC Wainwright reaffirmed a buy rating and issued a $60.00 price target on shares of Longboard Pharmaceuticals in a report on Tuesday, April 16th. Citigroup assumed coverage on shares of Longboard Pharmaceuticals in a report on Friday, February 16th. They issued a buy rating and a $40.00 price target for the company. Cantor Fitzgerald reaffirmed an overweight rating and issued a $60.00 price target on shares of Longboard Pharmaceuticals in a report on Wednesday, April 10th. Finally, Wedbush reaffirmed an outperform rating and issued a $32.00 price target on shares of Longboard Pharmaceuticals in a report on Wednesday, March 13th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of Buy and an average price target of $43.67.

Longboard Pharmaceuticals Stock Down 6.3 %

NASDAQ:LBPH opened at $21.38 on Wednesday. Longboard Pharmaceuticals has a 52 week low of $3.60 and a 52 week high of $28.15. The firm has a 50 day moving average of $20.10 and a 200 day moving average of $14.86. The stock has a market capitalization of $769.93 million, a price-to-earnings ratio of -9.56 and a beta of 1.25.

Longboard Pharmaceuticals (NASDAQ:LBPH) last posted its earnings results on Tuesday, March 12th. The company reported ($0.62) EPS for the quarter, missing analysts’ consensus estimates of ($0.60) by ($0.02). As a group, analysts expect that Longboard Pharmaceuticals will post -2.01 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Bourgeon Capital Management LLC purchased a new position in shares of Longboard Pharmaceuticals during the third quarter worth $39,000. Denali Advisors LLC acquired a new stake in Longboard Pharmaceuticals during the first quarter valued at $201,000. TD Asset Management Inc grew its position in Longboard Pharmaceuticals by 149.8% during the third quarter. TD Asset Management Inc now owns 121,422 shares of the company’s stock valued at $675,000 after buying an additional 72,811 shares during the period. Platinum Investment Management Ltd. acquired a new stake in Longboard Pharmaceuticals during the fourth quarter valued at $766,000. Finally, CIBC Asset Management Inc grew its position in Longboard Pharmaceuticals by 46.8% during the fourth quarter. CIBC Asset Management Inc now owns 212,178 shares of the company’s stock valued at $1,279,000 after buying an additional 67,607 shares during the period. 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.