Zacks Reiterates Outperform Rating for Neurocrine Biosciences (NBIX)
Neurocrine Biosciences (NASDAQ:NBIX)‘s stock had its “outperform” rating restated by Zacks in a research note issued to investors on Monday, AnalystRatingsNetwork.com reports. They currently have a $18.00 target price on the stock. Zacks‘ target price indicates a potential upside of 84.43% from the stock’s previous close.
Zacks‘ analyst wrote, “On January 6, 2014, Neurocrine Biosciences, Inc. (NBIX) announced results from the Phase 2b KINECT-2 study with small molecule VMAT2 inhibitor, NBI-98854, showed statistically significant and clinically meaningful reduction in tardive dyskinesia symptoms. The news is a pleasant surprise to Neurocrine investors after the mixed results of the KINECT-1 study in September 2013. The key differences between these two trials include dose titration and underlying disorder. Below we provide a quick background on the drug, a summary of the data from KINECT-2, a rehash of the KINECT-1 data, post some thoughts on what the future holds with respect to KINECT-3, outline timelines for moving NBI-98854 forward, and conclude with a valuation for the shares based on this new data.”
Separately, analysts at Piper Jaffray initiated coverage on shares of Neurocrine Biosciences in a research note to investors on Thursday, December 19th. They set an “overweight” rating and a $17.00 price target on the stock. One analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $16.72.
Neurocrine Biosciences (NASDAQ:NBIX) traded up 1.14% during mid-day trading on Monday, hitting $9.76. 1,910,750 shares of the company’s stock traded hands. Neurocrine Biosciences has a one year low of $8.08 and a one year high of $16.74. The stock’s 50-day moving average is $9.41 and its 200-day moving average is $11.75. The company’s market cap is $657.3 million.
Neurocrine Biosciences (NASDAQ:NBIX) last released its earnings data on Tuesday, October 29th. The company reported ($0.17) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.20) by $0.03. The company had revenue of $0.73 million for the quarter, compared to the consensus estimate of $0.79 million. During the same quarter in the previous year, the company posted ($0.05) earnings per share. The company’s revenue for the quarter was down 92.2% on a year-over-year basis. On average, analysts predict that Neurocrine Biosciences will post $-0.70 earnings per share for the current fiscal year.
Neurocrine Biosciences, Inc (NASDAQ:NBIX) discovers, develops and commercializes drugs for the treatment of neurological and endocrine-related diseases and disorders.
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