Baird raised the firm’s price target on Longboard Pharmaceuticals to $60 from $36 and keeps an Outperform rating on the shares. The firm raised its target fter Longboard announced last week that bexicaserin received Breakthrough Therapy designation from FDA for the treatment of seizures associated with Developmental and Epileptic Encephalopathies (DEEs) for patients two years of age or older. Baird views this as a meaningful regulatory update that positions bexicaserin as likely going on to achieve $1B+ and quite possibly $2B+ in annual sales.
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Read More on LBPH:
- Longboard Pharmaceuticals price target raised to $45 from $40 at Citi
- Longboard price target raised to $90 from $60 at Cantor Fitzgerald
- Longboard Pharmaceuticals Advancing DEE Treatment Trials
- Longboard announces Breakthrough Therapy designation for bexicaserin
- Longboard Pharmaceuticals Advances with Promising Seizure Treatment Study