Longboard Pharmaceuticals, Inc. (NASDAQ:LBPH) Sees Large Decline in Short Interest

Longboard Pharmaceuticals, Inc. (NASDAQ:LBPHGet Rating) was the target of a large drop in short interest in the month of February. As of February 28th, there was short interest totalling 12,300 shares, a drop of 9.6% from the February 13th total of 13,600 shares. Based on an average daily volume of 26,100 shares, the days-to-cover ratio is presently 0.5 days. Currently, 0.1% of the shares of the stock are sold short.

Longboard Pharmaceuticals Trading Up 3.2 %

Shares of LBPH opened at $4.79 on Thursday. Longboard Pharmaceuticals has a 12-month low of $2.70 and a 12-month high of $6.47. The company has a market cap of $110.00 million, a PE ratio of -1.86 and a beta of 1.17. The stock has a 50-day moving average price of $5.07 and a 200-day moving average price of $4.38.

Institutional Investors Weigh In On Longboard Pharmaceuticals

An institutional investor recently raised its position in Longboard Pharmaceuticals stock. BlackRock Inc. raised its stake in Longboard Pharmaceuticals, Inc. (NASDAQ:LBPHGet Rating) by 69.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 30,669 shares of the company’s stock after buying an additional 12,576 shares during the period. BlackRock Inc. owned about 0.23% of Longboard Pharmaceuticals worth $164,000 at the end of the most recent quarter. 53.46% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on LBPH shares. Citigroup decreased their price target on Longboard Pharmaceuticals from $24.00 to $17.00 and set a “buy” rating on the stock in a research report on Sunday, March 5th. HC Wainwright reaffirmed a “buy” rating and set a $25.00 target price on shares of Longboard Pharmaceuticals in a report on Wednesday. Finally, Wedbush reissued an “outperform” rating on shares of Longboard Pharmaceuticals in a report on Friday, March 3rd. Five research analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $19.33.

About Longboard Pharmaceuticals

(Get Rating)

Longboard Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, focuses on developing transformative medicines for neurological diseases. The company's lead product candidate is LP352, which is in a Phase 1b/2a clinical trial for the treatment of seizures associated with developmental and epileptic encephalopathies.

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