Longboard Pharmaceuticals (NASDAQ:LBPH) Given New $34.00 Price Target at Wedbush

Longboard Pharmaceuticals (NASDAQ:LBPH) had its price target raised by Wedbush from $32.00 to $34.00 in a report published on Friday, Benzinga reports. The brokerage currently has an outperform rating on the stock.

A number of other equities research analysts also recently weighed in on the stock. Robert W. Baird initiated coverage on shares of Longboard Pharmaceuticals in a report on Wednesday, May 1st. They issued an outperform rating and a $36.00 price target for the company. Cantor Fitzgerald restated an overweight rating and set a $60.00 price objective on shares of Longboard Pharmaceuticals in a report on Wednesday, April 10th. HC Wainwright restated a buy rating and set a $60.00 price objective on shares of Longboard Pharmaceuticals in a report on Tuesday, April 16th. Finally, Citigroup started coverage on Longboard Pharmaceuticals in a report on Friday, February 16th. They set a buy rating and a $40.00 price objective on the stock. Six investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has a consensus rating of Buy and a consensus price target of $43.67.

Longboard Pharmaceuticals Price Performance

Shares of NASDAQ LBPH opened at $20.60 on Friday. Longboard Pharmaceuticals has a twelve month low of $3.60 and a twelve month high of $28.15. The firm has a 50-day moving average of $20.08 and a two-hundred day moving average of $15.12.

Longboard Pharmaceuticals (NASDAQ:LBPH) last issued its quarterly earnings results 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). Equities analysts predict that Longboard Pharmaceuticals will post -2.01 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Longboard Pharmaceuticals

Large investors have recently made changes to their positions in the business. Bourgeon Capital Management LLC acquired a new position in shares of Longboard Pharmaceuticals in the 3rd quarter valued at about $39,000. SG Americas Securities LLC acquired a new position in shares of Longboard Pharmaceuticals in the 1st quarter valued at about $132,000. Denali Advisors LLC acquired a new position in shares of Longboard Pharmaceuticals in the 1st quarter valued at about $201,000. Quantbot Technologies LP acquired a new position in shares of Longboard Pharmaceuticals in the 1st quarter valued at about $310,000. Finally, TD Asset Management Inc grew 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 valued at $675,000 after buying an additional 72,811 shares in the last quarter. Institutional investors and hedge funds 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.