Cantor Fitzgerald analyst Josh Schimmer raised the firm’s price target on Longboard Pharmaceuticals to $60 from $55 and keeps an Overweight rating on the shares. The stock is 300% year-to-date after the company started 2024 with better than expected Phase 1/2 data for bexicaserin, the analyst tells investors in a research note. The firm has confidence that Longboard can unlock the broader developmental and epileptic encephalopathies indication. It cites the stock reaction and significantly lower cost of capital than modeled for the target increase.
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Read More on LBPH:
- Longboard Pharmaceuticals price target raised to $30 from $13 at B. Riley
- Longboard Pharmaceuticals price target raised to $32 from $22 at Wedbush
- Longboard price target raised to $60 from $25 at H.C. Wainwright
- Longboard Pharmaceuticals 10M share Secondary priced at $21.00
- Longboard Pharmaceuticals prices 10M share secondary at $21, Bloomberg says
