Longboard Pharmaceuticals, Inc. (NASDAQ:LBPH – Get Rating) shares traded up 13.6% on Friday . The company traded as high as $5.24 and last traded at $5.11. 112,132 shares changed hands during mid-day trading, an increase of 289% from the average session volume of 28,814 shares. The stock had previously closed at $4.50.
Wall Street Analyst Weigh In
A number of equities research analysts have issued reports on LBPH shares. Wedbush reaffirmed an “outperform” rating on shares of Longboard Pharmaceuticals in a research report on Friday, March 3rd. HC Wainwright reaffirmed a “buy” rating and issued a $25.00 price objective on shares of Longboard Pharmaceuticals in a research report on Wednesday, March 15th. Finally, Citigroup reduced their price objective on shares of Longboard Pharmaceuticals from $24.00 to $17.00 and set a “buy” rating for the company in a research report on Sunday, March 5th.
Longboard Pharmaceuticals Trading Up 13.6 %
The firm has a market cap of $117.38 million, a P/E ratio of -1.99 and a beta of 1.07. The business’s fifty day simple moving average is $4.69 and its 200-day simple moving average is $4.41.
Institutional Inflows and Outflows
A hedge fund recently raised its stake in Longboard Pharmaceuticals stock. BlackRock Inc. boosted its holdings in shares of Longboard Pharmaceuticals, Inc. (NASDAQ:LBPH – Get Rating) by 69.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 30,669 shares of the company’s stock after buying an additional 12,576 shares during the quarter. BlackRock Inc. owned approximately 0.23% of Longboard Pharmaceuticals worth $164,000 at the end of the most recent quarter. Institutional investors and hedge funds own 53.46% of the company’s stock.
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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