HC Wainwright Reiterates Buy Rating for Longboard Pharmaceuticals (NASDAQ:LBPH)

HC Wainwright restated their buy rating on shares of Longboard Pharmaceuticals (NASDAQ:LBPH – Get Rating) in a research note issued to investors on Wednesday morning, Benzinga reports. HC Wainwright currently has a $25.00 price objective on the stock. HC Wainwright also issued estimates for Longboard Pharmaceuticals’ Q1 2023 earnings at ($0.55) EPS, Q2 2023 earnings at ($0.56) EPS, Q3 2023 earnings at ($0.39) EPS, Q4 2023 earnings at ($0.40) EPS, FY2023 earnings at ($1.89) EPS, FY2024 earnings at ($1.13) EPS, FY2025 earnings at ($1.01) EPS, FY2026 earnings at ($0.61) EPS and FY2027 earnings at ($0.29) EPS.

A number of other research firms have also commented on LBPH. Wedbush reissued an outperform rating on shares of Longboard Pharmaceuticals in a report on Friday, March 3rd. Citigroup reduced their target price on Longboard Pharmaceuticals from $24.00 to $17.00 and set a buy rating for the company in a report on Sunday, March 5th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has an average rating of Buy and a consensus target price of $19.33.

Longboard Pharmaceuticals Trading Down 10.5 %

Longboard Pharmaceuticals stock opened at $3.84 on Wednesday. The firm has a market cap of $88.20 million, a price-to-earnings ratio of -1.49 and a beta of 1.17. The stock has a fifty day simple moving average of $5.03 and a two-hundred day simple moving average of $4.39. Longboard Pharmaceuticals has a 12 month low of $2.70 and a 12 month high of $6.47.

Institutional Trading of Longboard Pharmaceuticals

An institutional investor recently raised its position in Longboard Pharmaceuticals stock. BlackRock Inc. increased its position in Longboard Pharmaceuticals, Inc. (NASDAQ:LBPH – Get Rating) by 69.5% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 30,669 shares of the company’s stock after acquiring 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 reporting period. Institutional investors and hedge funds own 53.46% of the company’s stock.

Longboard Pharmaceuticals Company Profile

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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.