Citigroup Maintains Buy Rating for Longboard Pharmaceuticals: Here's What You Need To Know

Citigroup has decided to maintain its Buy rating of Longboard Pharmaceuticals LBPH and lower its price target from $24.00 to $17.00.

Shares of Longboard Pharmaceuticals are trading up 1.25% over the last 24 hours, at $4.85 per share.

A move to $17.00 would account for a 250.52% increase from the current share price.

About Longboard Pharmaceuticals

Longboard Pharmaceuticals Inc is a clinical-stage biopharmaceutical company focused on developing novel, transformative medicines for neurological diseases. The company is working to improve a portfolio of centrally acting product candidates designed to be selective for specific G protein-coupled receptors (GPCRs). The company is evaluating LP352, an oral, centrally acting 5-hydroxytryptamine 2C (5-HT2C) receptor superagonist, with negligible observed impact on 5-HT2B and 5-HT2A receptor subtypes, in development for the potential treatment of seizures associated with a broad range of developmental and epileptic encephalopathies.

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This article was generated by Benzinga's automated content engine and reviewed by an editor.