Longboard Pharmaceuticals’ (LBPH) “Hold” Rating Reaffirmed at Truist Financial

Longboard Pharmaceuticals (NASDAQ:LBPH)‘s stock had its “hold” rating reiterated by Truist Financial in a research report issued to clients and investors on Tuesday, Benzinga reports. They presently have a $60.00 target price on the stock. Truist Financial’s price objective would indicate a potential upside of 1.83% from the stock’s previous close.

A number of other research analysts have also weighed in on LBPH. Wedbush boosted their target price on shares of Longboard Pharmaceuticals from $40.00 to $44.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 17th. Cantor Fitzgerald restated a “neutral” rating on shares of Longboard Pharmaceuticals in a research note on Monday. Evercore ISI reaffirmed an “outperform” rating and issued a $80.00 target price on shares of Longboard Pharmaceuticals in a report on Monday, August 26th. B. Riley reiterated a “neutral” rating and set a $60.00 price target (up from $45.00) on shares of Longboard Pharmaceuticals in a report on Monday. Finally, Citigroup raised their price objective on shares of Longboard Pharmaceuticals from $45.00 to $50.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $61.78.

Longboard Pharmaceuticals Stock Performance

Shares of LBPH stock traded down $0.07 during trading on Tuesday, hitting $58.92. 1,383,711 shares of the company were exchanged, compared to its average volume of 1,075,895. The business’s 50-day simple moving average is $34.89 and its 200 day simple moving average is $27.83. The firm has a market capitalization of $2.29 billion, a price-to-earnings ratio of -26.30 and a beta of 1.22. Longboard Pharmaceuticals has a twelve month low of $3.60 and a twelve month high of $59.12.

Longboard Pharmaceuticals (NASDAQ:LBPH) last announced its quarterly earnings results on Thursday, August 1st. The company reported ($0.56) EPS for the quarter, missing the consensus estimate of ($0.46) by ($0.10). During the same quarter in the prior year, the business posted ($0.65) earnings per share. On average, equities analysts forecast that Longboard Pharmaceuticals will post -2.19 earnings per share for the current fiscal year.

Insider Transactions at Longboard Pharmaceuticals

In other Longboard Pharmaceuticals news, CMO Randall Kaye sold 16,666 shares of the firm’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $31.64, for a total transaction of $527,312.24. Following the completion of the transaction, the chief marketing officer now owns 17,920 shares in the company, valued at $566,988.80. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 4.64% of the stock is owned by insiders.

Hedge Funds Weigh In On Longboard Pharmaceuticals

Several institutional investors have recently bought and sold shares of the business. RA Capital Management L.P. bought a new position in shares of Longboard Pharmaceuticals in the first quarter valued at about $71,045,000. Farallon Capital Management LLC lifted its position in shares of Longboard Pharmaceuticals by 88.4% during the first quarter. Farallon Capital Management LLC now owns 2,940,500 shares of the company’s stock worth $63,515,000 after purchasing an additional 1,380,000 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Longboard Pharmaceuticals by 36.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 2,217,995 shares of the company’s stock valued at $47,910,000 after purchasing an additional 591,013 shares during the last quarter. Vanguard Group Inc. raised its position in Longboard Pharmaceuticals by 119.3% in the 1st quarter. Vanguard Group Inc. now owns 1,724,431 shares of the company’s stock worth $37,248,000 after purchasing an additional 937,998 shares during the last quarter. Finally, Integral Health Asset Management LLC lifted its holdings in Longboard Pharmaceuticals by 12.8% during the 2nd quarter. Integral Health Asset Management LLC now owns 1,100,000 shares of the company’s stock worth $29,733,000 after buying an additional 125,000 shares in the last quarter. 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.