Cantor Fitzgerald Maintains Overweight Rating for Longboard Pharmaceuticals: Here's What You Need To Know
Portfolio Pulse from Benzinga Insights
Cantor Fitzgerald has reaffirmed its Overweight rating on Longboard Pharmaceuticals (NASDAQ:LBPH) and increased its price target from $55.00 to $60.00. Despite a slight decline in share price over the last 24 hours, the new price target suggests a potential upside of 156.96% from the current price of $23.35. Longboard Pharmaceuticals is a clinical-stage biopharmaceutical company developing medicines for neurological diseases, with a focus on selective G protein-coupled receptors (GPCRs).
January 16, 2024 | 5:00 pm
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POSITIVE IMPACT
Cantor Fitzgerald maintains an Overweight rating on Longboard Pharmaceuticals and raises the price target to $60, indicating a significant potential upside from the current price.
The reaffirmation of the Overweight rating and the increase in price target by Cantor Fitzgerald are strong positive signals for investors, suggesting confidence in Longboard Pharmaceuticals' prospects. This could lead to increased investor interest and a potential rise in the stock price in the short term, especially given the substantial upside implied by the new price target.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100