Deutsche Bank Lowers Neurocrine Biosciences Price Target to $18.00 (NBIX)
Research analysts at Deutsche Bank cut their price objective on shares of Neurocrine Biosciences (NASDAQ:NBIX) from $25.00 to $18.00 in a report released on Tuesday, Analyst Ratings.Net reports. The firm currently has a “buy” rating on the stock. Deutsche Bank’s price objective indicates a potential upside of 7.78% from the company’s current price.
Several other analysts have also recently commented on the stock. Analysts at MKM Partners cut their price target on shares of Neurocrine Biosciences (NASDAQ:NBIX) from $17.00 to $13.50 in a research note to investors on Tuesday. They now have a “buy” rating on the stock. Separately, analysts at Jefferies Group reiterated a “buy” rating on shares of Neurocrine Biosciences (NASDAQ:NBIX) in a research note to investors on Tuesday. Finally, analysts at Oppenheimer raised their price target on shares of Neurocrine Biosciences (NASDAQ:NBIX) from $16.00 to $19.00 in a research note to investors on Tuesday, September 3rd. They now have an “outperform” rating on the stock.
One analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $16.07.
Shares of Neurocrine Biosciences (NASDAQ:NBIX) traded down 28.86% during mid-day trading on Tuesday, hitting $11.88. 7,511,139 shares of the company’s stock traded hands. Neurocrine Biosciences has a 52 week low of $6.72 and a 52 week high of $16.74. The stock’s 50-day moving average is $14.71 and its 200-day moving average is $12.88. The company’s market cap is $796.7 million.
Neurocrine Biosciences (NASDAQ:NBIX) last posted its quarterly earnings results on Thursday, July 25th. The company reported ($0.18) earnings per share for the quarter, beating the analysts’ consensus estimate of ($0.20) by $0.02. The company had revenue of $0.73 million for the quarter, compared to the consensus estimate of $0.77 million. During the same quarter last year, the company posted ($0.01) earnings per share. Neurocrine Biosciences’s revenue was down 93.1% compared to the same quarter last year. Analysts expect that Neurocrine Biosciences will post $-0.78 EPS for the current fiscal year.
In other Neurocrine Biosciences news, Insider Christopher Flint Obrien unloaded 5,000 shares of the stock on the open market in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $16.00, for a total value of $80,000.00. Following the completion of the transaction, the insider now directly owns 94,794 shares in the company. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.
Neurocrine Biosciences, Inc (NASDAQ:NBIX) discovers, develops and commercializes drugs for the treatment of neurological and endocrine-related diseases and disorders.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.