Longboard Pharmaceuticals (NASDAQ:LBPH) Coverage Initiated by Analysts at Robert W. Baird

Equities researchers at Robert W. Baird started coverage on shares of Longboard Pharmaceuticals (NASDAQ:LBPH) in a report issued on Wednesday, Briefing.com reports. The firm set an “outperform” rating and a $36.00 price target on the stock. Robert W. Baird’s price target points to a potential upside of 69.01% from the stock’s previous close.

Other equities analysts have also recently issued research reports about the stock. Wedbush reiterated an “outperform” rating and issued a $32.00 price target on shares of Longboard Pharmaceuticals in a research note on Wednesday, March 13th. Guggenheim upped their target price 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. Citigroup assumed coverage on shares of Longboard Pharmaceuticals in a report on Friday, February 16th. They set a “buy” rating and a $40.00 price target on the stock. HC Wainwright reaffirmed a “buy” rating and issued a $60.00 price objective on shares of Longboard Pharmaceuticals in a research report on Tuesday, April 16th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $60.00 target price on shares of Longboard Pharmaceuticals in a research note on Wednesday, April 10th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $43.33.

Longboard Pharmaceuticals Price Performance

NASDAQ:LBPH opened at $21.30 on Wednesday. Longboard Pharmaceuticals has a one year low of $3.60 and a one year high of $28.15. The company’s 50-day simple moving average is $20.05 and its 200 day simple moving average is $14.76. The firm has a market capitalization of $767.23 million, a P/E ratio of -8.95 and a beta of 1.24.

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

Hedge Funds Weigh In On Longboard Pharmaceuticals

Institutional investors and hedge funds have recently modified their holdings of the company. Bourgeon Capital Management LLC bought a new position in Longboard Pharmaceuticals in the third quarter valued at about $39,000. Denali Advisors LLC bought a new position in shares of Longboard Pharmaceuticals in the 1st quarter worth approximately $201,000. TD Asset Management Inc lifted its stake in shares of Longboard Pharmaceuticals by 149.8% in the 3rd quarter. TD Asset Management Inc now owns 121,422 shares of the company’s stock worth $675,000 after purchasing an additional 72,811 shares during the period. Platinum Investment Management Ltd. purchased a new position in shares of Longboard Pharmaceuticals in the fourth quarter worth approximately $766,000. Finally, CIBC Asset Management Inc grew its position in Longboard Pharmaceuticals by 46.8% during the fourth 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. 63.28% of the stock is currently 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.