Braun Stacey Associates Inc. Purchases Shares of 299,156 Longboard Pharmaceuticals, Inc. (NASDAQ:LBPH)

Braun Stacey Associates Inc. purchased a new position in Longboard Pharmaceuticals, Inc. (NASDAQ:LBPH) during the third quarter, Holdings Channel.com reports. The firm purchased 299,156 shares of the company’s stock, valued at approximately $9,971,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Ameritas Investment Partners Inc. raised its position in Longboard Pharmaceuticals by 93.3% during the first 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 during the period. KBC Group NV bought a new position in shares of Longboard Pharmaceuticals during the 3rd quarter valued at $65,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in shares of Longboard Pharmaceuticals in the second quarter worth about $127,000. SG Americas Securities LLC bought a new stake in shares of Longboard Pharmaceuticals during the 1st quarter worth about $132,000. Finally, Arizona State Retirement System acquired a new position in shares of Longboard Pharmaceuticals during the 2nd quarter valued at about $216,000. 63.28% of the stock is currently owned by institutional investors and hedge funds.

Longboard Pharmaceuticals Stock Down 0.1 %

NASDAQ LBPH opened at $59.69 on Monday. Longboard Pharmaceuticals, Inc. has a twelve month low of $3.60 and a twelve month high of $59.95. The stock has a market cap of $2.32 billion, a P/E ratio of -26.77 and a beta of 1.07. The company’s 50-day simple moving average is $46.55 and its 200 day simple moving average is $34.64.

Longboard Pharmaceuticals (NASDAQ:LBPH) last issued its earnings results on Thursday, November 7th. The company reported ($0.63) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.59) by ($0.04). Research analysts anticipate that Longboard Pharmaceuticals, Inc. will post -2.22 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on LBPH. Cantor Fitzgerald reiterated a “neutral” rating on shares of Longboard Pharmaceuticals in a research note on Monday, October 14th. Evercore ISI restated an “outperform” rating and set a $80.00 target price on shares of Longboard Pharmaceuticals in a research note on Monday, August 26th. Wedbush lowered Longboard Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a report on Monday, October 14th. B. Riley restated a “neutral” rating and issued a $60.00 price objective (up previously from $45.00) on shares of Longboard Pharmaceuticals in a research note on Monday, October 14th. Finally, Truist Financial reiterated a “hold” rating and set a $60.00 target price on shares of Longboard Pharmaceuticals in a research note on Tuesday, October 15th. Five investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, Longboard Pharmaceuticals presently has an average rating of “Hold” and a consensus price target of $59.56.

Insider Buying and Selling at Longboard Pharmaceuticals

In other Longboard Pharmaceuticals news, CMO Randall Kaye sold 16,667 shares of the business’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $59.03, for a total value of $983,853.01. Following the transaction, the chief marketing officer now owns 17,920 shares of the company’s stock, valued at approximately $1,057,817.60. The trade was a 48.19 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 4.64% of the company’s stock.

Longboard Pharmaceuticals 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.