Longboard Pharmaceuticals (NASDAQ:LBPH) Stock Price Up 6.2%

Longboard Pharmaceuticals, Inc. (NASDAQ:LBPH)’s share price was up 6.2% on Friday . The stock traded as high as $34.16 and last traded at $33.89. Approximately 328,362 shares changed hands during mid-day trading, a decline of 66% from the average daily volume of 958,356 shares. The stock had previously closed at $31.91.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on LBPH shares. Wedbush boosted their price target on Longboard Pharmaceuticals from $32.00 to $34.00 and gave the company an “outperform” rating in a report on Friday, May 3rd. HC Wainwright reiterated a “buy” rating and set a $60.00 price target on shares of Longboard Pharmaceuticals in a research report on Tuesday, June 11th. Citigroup raised their price target on Longboard Pharmaceuticals from $40.00 to $45.00 and gave the company a “buy” rating in a report on Tuesday. Evercore ISI upped their price objective on shares of Longboard Pharmaceuticals from $57.00 to $80.00 and gave the stock an “outperform” rating in a report on Tuesday. Finally, B. Riley increased their price target on Longboard Pharmaceuticals from $30.00 to $36.00 and gave the company a “buy” rating in a research note on Tuesday, June 11th. Eight research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $51.63.

Longboard Pharmaceuticals Stock Performance

The company has a market cap of $1.31 billion, a PE ratio of -15.11 and a beta of 1.24. The company has a 50 day simple moving average of $20.97 and a two-hundred day simple moving average of $19.91.

Longboard Pharmaceuticals (NASDAQ:LBPH) last posted its earnings results on Thursday, May 2nd. The company reported ($0.42) EPS for the quarter, topping the consensus estimate of ($0.48) by $0.06. As a group, analysts expect that Longboard Pharmaceuticals, Inc. will post -1.82 earnings per share for the current fiscal year.

Institutional Trading of Longboard Pharmaceuticals

Large investors have recently made changes to their positions in the stock. CIBC Asset Management Inc lifted its holdings in Longboard Pharmaceuticals by 46.8% in the 4th quarter. CIBC Asset Management Inc now owns 212,178 shares of the company’s stock worth $1,279,000 after purchasing an additional 67,607 shares during the last quarter. Parkman Healthcare Partners LLC raised its position in shares of Longboard Pharmaceuticals by 20.8% in the fourth quarter. Parkman Healthcare Partners LLC now owns 429,892 shares of the company’s stock valued at $2,592,000 after purchasing an additional 73,935 shares during the period. Platinum Investment Management Ltd. acquired a new stake in shares of Longboard Pharmaceuticals in the fourth quarter worth $766,000. Jennison Associates LLC bought a new stake in shares of Longboard Pharmaceuticals during the 4th quarter worth $2,899,000. Finally, Polar Capital Holdings Plc acquired a new position in Longboard Pharmaceuticals in the 3rd quarter valued at $5,560,000. 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.