SG Americas Securities LLC Invests $350,000 in Longboard Pharmaceuticals, Inc. (NASDAQ:LBPH)

SG Americas Securities LLC acquired a new position in Longboard Pharmaceuticals, Inc. (NASDAQ:LBPH - Free Report) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 10,514 shares of the company's stock, valued at approximately $350,000.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Driehaus Capital Management LLC increased its stake in shares of Longboard Pharmaceuticals by 25.8% during the 2nd quarter. Driehaus Capital Management LLC now owns 488,793 shares of the company's stock worth $13,212,000 after purchasing an additional 100,321 shares during the last quarter. Lynx1 Capital Management LP bought a new stake in Longboard Pharmaceuticals in the second quarter worth $4,523,000. The Manufacturers Life Insurance Company boosted its holdings in Longboard Pharmaceuticals by 40.2% in the second quarter. The Manufacturers Life Insurance Company now owns 117,739 shares of the company's stock worth $3,182,000 after purchasing an additional 33,755 shares in the last quarter. Squarepoint Ops LLC increased its position in Longboard Pharmaceuticals by 30.4% during the second quarter. Squarepoint Ops LLC now owns 13,972 shares of the company's stock worth $378,000 after buying an additional 3,260 shares during the last quarter. Finally, Integral Health Asset Management LLC raised its holdings in Longboard Pharmaceuticals by 12.8% during the second quarter. Integral Health Asset Management LLC now owns 1,100,000 shares of the company's stock valued at $29,733,000 after buying an additional 125,000 shares in the last quarter. Institutional investors and hedge funds own 63.28% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Cantor Fitzgerald reaffirmed a "neutral" rating on shares of Longboard Pharmaceuticals in a research report on Monday, October 14th. Citigroup boosted their target price on Longboard Pharmaceuticals from $45.00 to $50.00 and gave the stock a "buy" rating in a report on Friday, August 2nd. Truist Financial reissued a "hold" rating and issued a $60.00 price target on shares of Longboard Pharmaceuticals in a research report on Tuesday. B. Riley reaffirmed a "neutral" rating and set a $60.00 price objective (up from $45.00) on shares of Longboard Pharmaceuticals in a report on Monday, October 14th. Finally, Wedbush lowered shares of Longboard Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a research note on Monday, October 14th. Five investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $59.56.

Insider Transactions at Longboard Pharmaceuticals

In related news, CMO Randall Kaye sold 16,666 shares of the company's stock in a transaction on Monday, September 16th. The stock was sold at an average price of $31.64, for a total value of $527,312.24. Following the completion of the transaction, the chief marketing officer now directly owns 17,920 shares in the company, valued at approximately $566,988.80. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last quarter, insiders have sold 50,000 shares of company stock valued at $2,090,010. 4.64% of the stock is owned by corporate insiders.

Longboard Pharmaceuticals Trading Up 0.1 %

NASDAQ:LBPH traded up $0.04 during trading hours on Friday, hitting $59.21. 3,285,066 shares of the company traded hands, compared to its average volume of 1,131,878. Longboard Pharmaceuticals, Inc. has a twelve month low of $3.60 and a twelve month high of $59.47. The firm has a 50-day moving average of $36.79 and a 200 day moving average of $28.85. The stock has a market capitalization of $2.30 billion, a price-to-earnings ratio of -26.43 and a beta of 1.22.

Longboard Pharmaceuticals (NASDAQ:LBPH - Get Free Report) last released its earnings results on Thursday, August 1st. The company reported ($0.56) earnings per share for the quarter, missing the consensus estimate of ($0.46) by ($0.10). During the same quarter last year, the company posted ($0.65) EPS. Equities research analysts predict that Longboard Pharmaceuticals, Inc. will post -2.19 earnings per share for the current fiscal year.

Longboard Pharmaceuticals Company 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.