Q3 2024 Earnings Forecast for Longboard Pharmaceuticals, Inc. (NASDAQ:LBPH) Issued By HC Wainwright

Longboard Pharmaceuticals, Inc. (NASDAQ:LBPH) – Research analysts at HC Wainwright lowered their Q3 2024 earnings per share (EPS) estimates for Longboard Pharmaceuticals in a note issued to investors on Wednesday, September 18th. HC Wainwright analyst P. Trucchio now anticipates that the company will post earnings of ($0.61) per share for the quarter, down from their previous forecast of ($0.49). HC Wainwright currently has a “Buy” rating and a $80.00 target price on the stock. The consensus estimate for Longboard Pharmaceuticals’ current full-year earnings is ($2.13) per share. HC Wainwright also issued estimates for Longboard Pharmaceuticals’ Q4 2024 earnings at ($0.65) EPS, FY2024 earnings at ($2.27) EPS, Q1 2025 earnings at ($0.71) EPS, Q2 2025 earnings at ($0.76) EPS, Q3 2025 earnings at ($0.80) EPS, Q4 2025 earnings at ($0.77) EPS, FY2025 earnings at ($3.04) EPS, FY2026 earnings at ($3.18) EPS, FY2027 earnings at ($2.04) EPS and FY2028 earnings at $0.23 EPS.

A number of other equities research analysts also recently commented on the stock. B. Riley lifted their target price on shares of Longboard Pharmaceuticals from $36.00 to $45.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $90.00 price objective on shares of Longboard Pharmaceuticals in a report on Monday, September 16th. Truist Financial initiated coverage on Longboard Pharmaceuticals in a report on Tuesday, September 10th. They issued a “buy” rating and a $60.00 target price on the stock. Robert W. Baird boosted their price target 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, Evercore ISI reaffirmed an “outperform” rating and set a $80.00 price target on shares of Longboard Pharmaceuticals in a research report on Monday, August 26th. Nine investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $60.11.

Longboard Pharmaceuticals Stock Up 1.5 %

LBPH opened at $33.89 on Friday. The stock has a market capitalization of $1.32 billion, a price-to-earnings ratio of -15.13 and a beta of 1.24. The firm has a 50 day moving average price of $34.80 and a 200-day moving average price of $25.98. Longboard Pharmaceuticals has a twelve month low of $3.60 and a twelve month high of $40.48.

Longboard Pharmaceuticals (NASDAQ:LBPH) last posted its earnings results on Thursday, August 1st. The company reported ($0.56) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.46) by ($0.10). During the same quarter last year, the company posted ($0.65) EPS.

Institutional Trading of Longboard Pharmaceuticals

Several institutional investors and hedge funds have recently modified their holdings of LBPH. CIBC Asset Management Inc increased its stake 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 buying an additional 67,607 shares in the last quarter. Platinum Investment Management Ltd. bought a new stake in Longboard Pharmaceuticals in the 4th quarter valued at $766,000. Parkman Healthcare Partners LLC lifted its stake in Longboard Pharmaceuticals by 20.8% in the 4th quarter. Parkman Healthcare Partners LLC now owns 429,892 shares of the company’s stock worth $2,592,000 after purchasing an additional 73,935 shares in the last quarter. Denali Advisors LLC bought a new position in shares of Longboard Pharmaceuticals during the 1st quarter valued at about $201,000. Finally, Jennison Associates LLC grew its position 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 valued at $20,356,000 after purchasing an additional 461,576 shares in the last quarter. 63.28% of the stock is currently owned by institutional investors.

Insider Transactions at Longboard Pharmaceuticals

In other news, CMO Randall Kaye sold 16,666 shares of Longboard Pharmaceuticals 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 transaction, the chief marketing officer now directly owns 17,920 shares of the company’s stock, valued at approximately $566,988.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders have sold 33,433 shares of company stock valued at $1,108,244 over the last quarter. 4.64% of the stock is currently owned by company insiders.

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.