Parkman Healthcare Partners LLC Sells 202,906 Shares of Longboard Pharmaceuticals, Inc. (NASDAQ:LBPH)

Parkman Healthcare Partners LLC reduced its position in shares of Longboard Pharmaceuticals, Inc. (NASDAQ:LBPH - Free Report) by 29.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 491,272 shares of the company's stock after selling 202,906 shares during the quarter. Longboard Pharmaceuticals accounts for 2.1% of Parkman Healthcare Partners LLC's investment portfolio, making the stock its 13th biggest holding. Parkman Healthcare Partners LLC owned about 1.26% of Longboard Pharmaceuticals worth $16,374,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. KBC Group NV purchased a new position in shares of Longboard Pharmaceuticals during the 3rd quarter valued at $65,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in Longboard Pharmaceuticals in the second quarter worth $127,000. Arizona State Retirement System bought a new stake in Longboard Pharmaceuticals in the second quarter worth $216,000. Mesirow Financial Investment Management Inc. acquired a new position in Longboard Pharmaceuticals during the 3rd quarter worth $221,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Longboard Pharmaceuticals by 64.2% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,744 shares of the company's stock worth $258,000 after acquiring an additional 3,028 shares during the last quarter. 63.28% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on LBPH. HC Wainwright reissued a "neutral" rating and set a $60.00 target price (down from $80.00) on shares of Longboard Pharmaceuticals in a research report on Tuesday, October 15th. B. Riley reaffirmed a "neutral" rating and issued a $60.00 price target (up previously from $45.00) on shares of Longboard Pharmaceuticals in a research note on Monday, October 14th. Evercore ISI reissued an "outperform" rating and issued a $80.00 price objective on shares of Longboard Pharmaceuticals in a research note on Monday, August 26th. Cantor Fitzgerald reissued a "neutral" rating on shares of Longboard Pharmaceuticals in a research note on Monday, October 14th. Finally, Wedbush lowered Longboard Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a research note on Monday, October 14th. Five research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $59.56.

Insider Buying and Selling at Longboard Pharmaceuticals

In other news, CMO Randall Kaye sold 16,667 shares of the business's stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $59.03, for a total value of $983,853.01. Following the completion of the sale, the chief marketing officer now owns 17,920 shares of the company's stock, valued at approximately $1,057,817.60. The trade was a 48.19 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 4.64% of the company's stock.

Longboard Pharmaceuticals Price Performance

LBPH remained flat at $59.98 during trading on Wednesday. Longboard Pharmaceuticals, Inc. has a fifty-two week low of $3.60 and a fifty-two week high of $60.03. The firm has a market cap of $2.34 billion, a PE ratio of -26.90 and a beta of 1.00. The company's 50 day simple moving average is $53.10 and its 200-day simple moving average is $37.92.

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

About Longboard Pharmaceuticals

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.