Evercore ISI Boosts Longboard Pharmaceuticals (NASDAQ:LBPH) Price Target to $57.00

Longboard Pharmaceuticals (NASDAQ:LBPHFree Report) had its price target hoisted by Evercore ISI from $44.00 to $57.00 in a research note issued to investors on Thursday, Benzinga reports. The firm currently has an outperform rating on the stock.

Other equities research analysts have also issued reports about the stock. Wedbush increased their target price 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. Robert W. Baird began coverage on shares of Longboard Pharmaceuticals in a report on Wednesday, May 1st. They issued an outperform rating and a $36.00 price objective on the stock. B. Riley raised their price objective on shares of Longboard Pharmaceuticals from $30.00 to $36.00 and gave the company a buy rating in a report on Tuesday, June 11th. Cantor Fitzgerald restated an overweight rating and issued a $60.00 price objective on shares of Longboard Pharmaceuticals in a report on Thursday. Finally, HC Wainwright restated a buy rating and issued a $60.00 price objective on shares of Longboard Pharmaceuticals in a report on Tuesday, June 11th. Eight research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Longboard Pharmaceuticals has a consensus rating of Buy and a consensus target price of $44.38.

Read Our Latest Research Report on LBPH

Longboard Pharmaceuticals Stock Up 3.3 %

Longboard Pharmaceuticals stock opened at $20.81 on Thursday. The firm has a market cap of $809.09 million, a PE ratio of -9.29 and a beta of 1.15. Longboard Pharmaceuticals has a 52-week low of $3.60 and a 52-week high of $28.15. The company’s 50 day moving average is $19.57 and its two-hundred day moving average is $18.56.

Longboard Pharmaceuticals (NASDAQ:LBPHGet Free Report) last released its earnings results on Thursday, May 2nd. The company reported ($0.42) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.48) by $0.06. On average, equities research analysts anticipate that Longboard Pharmaceuticals will post -1.82 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Longboard Pharmaceuticals

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in LBPH. Ameritas Investment Partners Inc. raised its position in shares of Longboard Pharmaceuticals by 93.3% in the first quarter. Ameritas Investment Partners Inc. now owns 2,486 shares of the company’s stock valued at $54,000 after buying an additional 1,200 shares during the last quarter. SG Americas Securities LLC acquired a new position in shares of Longboard Pharmaceuticals in the first quarter valued at approximately $132,000. Denali Advisors LLC acquired a new position in shares of Longboard Pharmaceuticals in the first quarter valued at approximately $201,000. American International Group Inc. raised its position in shares of Longboard Pharmaceuticals by 58.6% in the first quarter. American International Group Inc. now owns 12,283 shares of the company’s stock valued at $265,000 after buying an additional 4,540 shares during the last quarter. Finally, Quantbot Technologies LP acquired a new position in shares of Longboard Pharmaceuticals in the first quarter valued at approximately $310,000. Institutional investors and hedge funds own 63.28% of the company’s stock.

Longboard Pharmaceuticals Company Profile

(Get Free Report)

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.

Further Reading

Analyst Recommendations for Longboard Pharmaceuticals (NASDAQ:LBPH)

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