Longboard Pharmaceuticals (NASDAQ:LBPH) Rating Reiterated by HC Wainwright

Longboard Pharmaceuticals (NASDAQ:LBPH)‘s stock had its “buy” rating reiterated by investment analysts at HC Wainwright in a report issued on Tuesday, Benzinga reports. They currently have a $60.00 target price on the stock. HC Wainwright’s target price would suggest a potential upside of 176.50% from the company’s previous close.

Several other research firms also recently commented on LBPH. Robert W. Baird began coverage on Longboard Pharmaceuticals in a research report on Wednesday, May 1st. They issued an “outperform” rating and a $36.00 target price for the company. Cantor Fitzgerald reiterated an “overweight” rating and set a $60.00 target price on shares of Longboard Pharmaceuticals in a research report on Friday, May 3rd. 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 for the company. Finally, Wedbush lifted their price target 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. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $43.67.

Longboard Pharmaceuticals Trading Down 1.6 %

LBPH opened at $21.70 on Tuesday. The company has a market cap of $781.63 million, a P/E ratio of -9.69 and a beta of 1.25. The company’s 50 day moving average is $20.01 and its 200-day moving average is $15.35. Longboard Pharmaceuticals has a 1-year low of $3.60 and a 1-year high of $28.15.

Longboard Pharmaceuticals (NASDAQ:LBPH) last issued its 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). On average, equities analysts forecast that Longboard Pharmaceuticals will post -2.01 EPS for the current year.

Hedge Funds Weigh In On Longboard Pharmaceuticals

Hedge funds have recently bought and sold shares of the company. Bourgeon Capital Management LLC bought a new position in shares of Longboard Pharmaceuticals in the 3rd quarter worth about $39,000. SG Americas Securities LLC acquired a new position in Longboard Pharmaceuticals in the first quarter valued at approximately $132,000. Denali Advisors LLC bought a new position in shares of Longboard Pharmaceuticals during the 1st quarter worth approximately $201,000. Quantbot Technologies LP acquired a new stake in shares of Longboard Pharmaceuticals during the 1st quarter worth approximately $310,000. Finally, Sei Investments Co. bought a new stake in shares of Longboard Pharmaceuticals in the 1st quarter valued at $429,000. 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.