Longboard price target raised to $46 from $25 at Evercore ISI

Evercore ISI analyst Gavin Clark-Gartner raised the firm’s price target on Longboard Pharmaceuticals to $46 from $25 and keeps an Outperform rating on the shares after the company announced positive topline data from the PACIFIC Study evaluating bexicaserin for seizures associated with a broad range of developmental and epileptic encephalopathies. The analyst says bexicaserin looks as efficacious as Fintelpa.