Longboard Pharmaceuticals (NASDAQ:LBPH – Get Free Report) had its price target increased by equities research analysts at B. Riley from $30.00 to $36.00 in a note issued to investors on Tuesday, Benzinga reports. The firm currently has a “buy” rating on the stock. B. Riley’s price target would suggest a potential upside of 91.39% from the stock’s previous close.
A number of other equities analysts have also weighed in on the company. Cantor Fitzgerald reissued an “overweight” rating and set a $60.00 price target on shares of Longboard Pharmaceuticals in a report on Friday, May 3rd. HC Wainwright reaffirmed a “buy” rating and set a $60.00 price target on shares of Longboard Pharmaceuticals in a research report on Tuesday. Wedbush raised their price objective on shares of Longboard Pharmaceuticals from $32.00 to $34.00 and gave the stock an “outperform” rating in a report on Friday, May 3rd. Robert W. Baird assumed coverage on shares of Longboard Pharmaceuticals in a report on Wednesday, May 1st. They set an “outperform” rating and a $36.00 target price for the company. Finally, Citigroup assumed coverage on shares of Longboard Pharmaceuticals in a research report on Friday, February 16th. They issued a “buy” rating and a $40.00 price target on the stock. Seven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $42.57.
Check Out Our Latest Stock Analysis on Longboard Pharmaceuticals
Longboard Pharmaceuticals Stock Up 3.9 %
Longboard Pharmaceuticals (NASDAQ:LBPH – Get Free Report) last posted its quarterly earnings data on Thursday, May 2nd. The company reported ($0.42) EPS for the quarter, topping the consensus estimate of ($0.48) by $0.06. Equities research analysts anticipate that Longboard Pharmaceuticals will post -1.85 EPS for the current year.
Hedge Funds Weigh In On Longboard Pharmaceuticals
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Ameritas Investment Partners Inc. lifted its position in Longboard Pharmaceuticals by 93.3% during the 1st quarter. Ameritas Investment Partners Inc. now owns 2,486 shares of the company’s stock worth $54,000 after acquiring an additional 1,200 shares during the period. SG Americas Securities LLC purchased a new stake in Longboard Pharmaceuticals in the first quarter valued at approximately $132,000. Denali Advisors LLC acquired a new position in Longboard Pharmaceuticals in the 1st quarter worth approximately $201,000. American International Group Inc. raised its position in Longboard Pharmaceuticals by 58.6% during the 1st quarter. American International Group Inc. now owns 12,283 shares of the company’s stock worth $265,000 after buying an additional 4,540 shares during the last quarter. Finally, Quantbot Technologies LP acquired a new stake in Longboard Pharmaceuticals during the 1st quarter valued at approximately $310,000. Hedge funds and other institutional investors own 63.28% of the company’s stock.
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.
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