299,156 Shares in Longboard Pharmaceuticals, Inc. (NASDAQ:LBPH) Bought by Braun Stacey Associates Inc.

Braun Stacey Associates Inc. acquired a new position in shares of Longboard Pharmaceuticals, Inc. (NASDAQ:LBPH - Free Report) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 299,156 shares of the company's stock, valued at approximately $9,971,000. Braun Stacey Associates Inc. owned about 0.77% of Longboard Pharmaceuticals at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the company. RA Capital Management L.P. acquired a new position in Longboard Pharmaceuticals during the 1st quarter worth about $71,045,000. Farallon Capital Management LLC lifted its position in shares of Longboard Pharmaceuticals by 88.4% during the first quarter. Farallon Capital Management LLC now owns 2,940,500 shares of the company's stock worth $63,515,000 after purchasing an additional 1,380,000 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Longboard Pharmaceuticals by 36.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 2,217,995 shares of the company's stock valued at $47,910,000 after purchasing an additional 591,013 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Longboard Pharmaceuticals by 119.3% in the first quarter. Vanguard Group Inc. now owns 1,724,431 shares of the company's stock valued at $37,248,000 after purchasing an additional 937,998 shares in the last quarter. Finally, Integral Health Asset Management LLC raised its position in Longboard Pharmaceuticals by 12.8% in the 2nd quarter. Integral Health Asset Management LLC now owns 1,100,000 shares of the company's stock worth $29,733,000 after purchasing an additional 125,000 shares during the last quarter. Institutional investors and hedge funds own 63.28% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have commented on LBPH. Evercore ISI reiterated an "outperform" rating and issued a $80.00 price objective on shares of Longboard Pharmaceuticals in a research report on Monday, August 26th. Wedbush lowered Longboard Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a research report on Monday, October 14th. B. Riley restated a "neutral" rating and set a $60.00 target price (up from $45.00) on shares of Longboard Pharmaceuticals in a research report on Monday, October 14th. Citigroup raised their target price on shares of Longboard Pharmaceuticals from $45.00 to $50.00 and gave the company a "buy" rating in a research note on Friday, August 2nd. Finally, Cantor Fitzgerald restated a "neutral" rating on shares of Longboard Pharmaceuticals in a report on Monday, October 14th. Five analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $59.56.

Longboard Pharmaceuticals Stock Up 0.1 %

Shares of LBPH traded up $0.06 on Monday, hitting $59.75. The company's stock had a trading volume of 362,247 shares, compared to its average volume of 1,121,613. The firm has a market capitalization of $2.32 billion, a price-to-earnings ratio of -26.77 and a beta of 1.07. The firm's fifty day moving average price is $46.55 and its 200-day moving average price is $34.64. Longboard Pharmaceuticals, Inc. has a fifty-two week low of $3.60 and a fifty-two week high of $59.95.

Longboard Pharmaceuticals (NASDAQ:LBPH - Get Free Report) last issued its quarterly earnings data on Thursday, November 7th. The company reported ($0.63) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.59) by ($0.04). As a group, equities analysts predict that Longboard Pharmaceuticals, Inc. will post -2.22 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CMO Randall Kaye sold 16,667 shares of the company's stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $59.03, for a total transaction of $983,853.01. Following the completion of the transaction, the chief marketing officer now directly owns 17,920 shares of the company's stock, valued at $1,057,817.60. This represents a 48.19 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 4.64% of the company's stock.

Longboard Pharmaceuticals Profile

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.