Longboard Pharmaceuticals, Inc. (NASDAQ:LBPH – Get Rating) – Analysts at HC Wainwright reduced their Q1 2023 earnings per share (EPS) estimates for shares of Longboard Pharmaceuticals in a research report issued to clients and investors on Wednesday, March 15th. HC Wainwright analyst P. Trucchio now anticipates that the company will earn ($0.55) per share for the quarter, down from their prior forecast of ($0.53). HC Wainwright currently has a “Buy” rating and a $25.00 target price on the stock. The consensus estimate for Longboard Pharmaceuticals’ current full-year earnings is ($2.08) per share. HC Wainwright also issued estimates for Longboard Pharmaceuticals’ 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 equities research analysts have also recently issued reports on LBPH. Wedbush reiterated an “outperform” rating on shares of Longboard Pharmaceuticals in a research note on Friday, March 3rd. Citigroup dropped their price objective on Longboard Pharmaceuticals from $24.00 to $17.00 and set a “buy” rating on the stock in a research note on Sunday, March 5th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $19.33.
Longboard Pharmaceuticals Stock Down 10.5 %
Institutional Inflows and Outflows
An institutional investor recently raised its position in Longboard Pharmaceuticals stock. Integral Health Asset Management LLC raised its position in Longboard Pharmaceuticals, Inc. (NASDAQ:LBPH – Get Rating) by 91.9% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 110,000 shares of the company’s stock after buying an additional 52,665 shares during the quarter. Integral Health Asset Management LLC owned 0.81% of Longboard Pharmaceuticals worth $409,000 at the end of the most recent reporting period. 53.46% of the stock is currently owned by institutional investors and hedge funds.
About Longboard Pharmaceuticals
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.
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