HC Wainwright Reaffirms “Buy” Rating for Longboard Pharmaceuticals (NASDAQ:LBPH)

Longboard Pharmaceuticals (NASDAQ:LBPH – Get Rating)‘s stock had its “buy” rating reaffirmed by equities researchers at HC Wainwright in a research note issued on Wednesday, Benzinga reports. They presently have a $25.00 target price on the stock. HC Wainwright’s price objective indicates a potential upside of 482.75% from the stock’s current price.

Several other research analysts have also recently weighed in on the company. Wedbush restated an “outperform” rating on shares of Longboard Pharmaceuticals in a report on Friday, March 3rd. Citigroup lowered their target price on Longboard Pharmaceuticals from $24.00 to $17.00 and set a “buy” rating on the stock in a report on Sunday, March 5th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat, Longboard Pharmaceuticals currently has an average rating of “Buy” and an average target price of $19.33.

Longboard Pharmaceuticals Trading Down 10.4 %

NASDAQ:LBPH opened at $4.29 on Wednesday. The firm has a market cap of $98.54 million, a P/E ratio of -1.67 and a beta of 1.17. The stock has a 50 day moving average of $5.06 and a two-hundred day moving average of $4.38. Longboard Pharmaceuticals has a 12 month low of $2.70 and a 12 month high of $6.47.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Longboard Pharmaceuticals stock. Integral Health Asset Management LLC boosted its holdings in Longboard Pharmaceuticals, Inc. (NASDAQ:LBPH – Get Rating) by 91.9% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 110,000 shares of the company’s stock after acquiring an additional 52,665 shares during the period. Integral Health Asset Management LLC owned 0.81% of Longboard Pharmaceuticals worth $409,000 at the end of the most recent reporting period. 53.46% of the stock is owned by institutional investors and hedge funds.

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.