Longboard Pharmaceuticals, Inc. (NASDAQ:LBPH) Position Increased by Emerald Advisers LLC

Emerald Advisers LLC lifted its stake in shares of Longboard Pharmaceuticals, Inc. (NASDAQ:LBPH - Free Report) by 199.2% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 683,642 shares of the company's stock after purchasing an additional 455,119 shares during the period. Emerald Advisers LLC owned about 1.76% of Longboard Pharmaceuticals worth $22,786,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of the stock. Emerald Mutual Fund Advisers Trust lifted its position in shares of Longboard Pharmaceuticals by 128.5% during the third quarter. Emerald Mutual Fund Advisers Trust now owns 419,462 shares of the company's stock worth $13,981,000 after purchasing an additional 235,885 shares during the last quarter. SG Americas Securities LLC bought a new position in shares of Longboard Pharmaceuticals during the third quarter worth about $350,000. Driehaus Capital Management LLC lifted its position in shares of Longboard Pharmaceuticals by 25.8% during the second 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 position in shares of Longboard Pharmaceuticals during the second quarter worth about $4,523,000. Finally, The Manufacturers Life Insurance Company lifted its position in shares of Longboard Pharmaceuticals by 40.2% during 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 during the last quarter. Institutional investors own 63.28% of the company's stock.

Insider Activity at Longboard Pharmaceuticals

In related news, CMO Randall Kaye sold 16,666 shares of the firm's stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $31.64, for a total transaction of $527,312.24. Following the transaction, the chief marketing officer now owns 17,920 shares in the company, valued at $566,988.80. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold 50,000 shares of company stock worth $2,090,010 over the last quarter. 4.64% of the stock is currently owned by company insiders.

Longboard Pharmaceuticals Stock Performance

Shares of NASDAQ:LBPH traded down $0.03 during trading hours on Friday, hitting $59.69. The stock had a trading volume of 896,184 shares, compared to its average volume of 3,788,596. The stock's fifty day simple moving average is $41.68 and its 200 day simple moving average is $31.82. Longboard Pharmaceuticals, Inc. has a 1-year low of $3.60 and a 1-year high of $59.95. The firm has a market capitalization of $2.32 billion, a price-to-earnings ratio of -27.76 and a beta of 1.06.

Longboard Pharmaceuticals (NASDAQ:LBPH - Get Free Report) last announced its quarterly earnings results on Thursday, August 1st. The company reported ($0.56) EPS for the quarter, missing the consensus estimate of ($0.46) by ($0.10). During the same quarter in the prior year, the business posted ($0.65) EPS. As a group, research analysts anticipate that Longboard Pharmaceuticals, Inc. will post -2.19 EPS for the current year.

Analyst Ratings Changes

Several research firms recently weighed in on LBPH. Citigroup increased their price objective on shares of Longboard Pharmaceuticals from $45.00 to $50.00 and gave the stock a "buy" rating in a research note on Friday, August 2nd. Truist Financial reiterated a "hold" rating and set a $60.00 price objective on shares of Longboard Pharmaceuticals in a research note on Tuesday, October 15th. Cantor Fitzgerald reiterated a "neutral" rating on shares of Longboard Pharmaceuticals in a research note on Monday, October 14th. Wedbush lowered shares of Longboard Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a research note on Monday, October 14th. Finally, Robert W. Baird increased their price objective on shares of Longboard Pharmaceuticals from $36.00 to $60.00 and gave the stock an "outperform" rating in a research note on Thursday, July 11th. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat.com, Longboard Pharmaceuticals has an average rating of "Hold" and a consensus price target of $59.56.

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.