Longboard Pharmaceuticals (NASDAQ:LBPH) Receives New Coverage from Analysts at Robert W. Baird

Robert W. Baird initiated coverage on shares of Longboard Pharmaceuticals (NASDAQ:LBPH) in a report issued on Wednesday morning, MarketBeat.com reports. The firm issued an outperform rating and a $36.00 price target on the stock.

A number of other research analysts have also recently weighed in on the stock. HC Wainwright reissued a buy rating and set a $60.00 price objective on shares of Longboard Pharmaceuticals in a research note on Tuesday, April 16th. Citigroup initiated coverage on shares of Longboard Pharmaceuticals in a research note on Friday, February 16th. They set a buy rating and a $40.00 price objective for the company. Guggenheim raised their price objective on shares of Longboard Pharmaceuticals from $16.00 to $32.00 and gave the stock a buy rating in a research note on Tuesday, January 2nd. Cantor Fitzgerald reissued an overweight rating and set a $60.00 price objective on shares of Longboard Pharmaceuticals in a research note on Wednesday, April 10th. Finally, Wedbush reissued an outperform rating and set a $32.00 price objective on shares of Longboard Pharmaceuticals in a research note on Wednesday, March 13th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat, Longboard Pharmaceuticals has a consensus rating of Buy and an average target price of $43.67.

Longboard Pharmaceuticals Trading Down 6.3 %

LBPH stock opened at $21.38 on Wednesday. The firm has a 50 day moving average of $20.08 and a 200-day moving average of $14.98. Longboard Pharmaceuticals has a 12-month low of $3.60 and a 12-month high of $28.15. The company has a market cap of $769.93 million, a price-to-earnings ratio of -9.54 and a beta of 1.25.

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

Institutional Trading of Longboard Pharmaceuticals

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Polar Capital Holdings Plc purchased a new stake in Longboard Pharmaceuticals in the 3rd quarter worth approximately $5,560,000. Jennison Associates LLC grew its stake in shares of Longboard Pharmaceuticals by 96.0% during the 1st quarter. Jennison Associates LLC now owns 942,404 shares of the company’s stock valued at $20,356,000 after buying an additional 461,576 shares during the period. Parkman Healthcare Partners LLC grew its stake in shares of Longboard Pharmaceuticals by 20.8% during the 4th quarter. Parkman Healthcare Partners LLC now owns 429,892 shares of the company’s stock valued at $2,592,000 after buying an additional 73,935 shares during the period. CIBC Asset Management Inc grew its stake in shares of Longboard Pharmaceuticals by 46.8% during the 4th 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. Finally, Platinum Investment Management Ltd. purchased a new stake in shares of Longboard Pharmaceuticals during the 4th quarter valued at $766,000. 63.28% of the stock is owned by hedge funds and other institutional investors.

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.