Cowen and Company Increases Neurocrine Biosciences Price Target to $20.00 (NBIX)
Equities researchers at Cowen and Company raised their target price on shares of Neurocrine Biosciences (NASDAQ:NBIX) from $19.00 to $20.00 in a research report issued on Friday, AmericanBankingNews.com reports. Cowen and Company’s price objective would indicate a potential upside of 17.99% from the company’s current price.
Neurocrine Biosciences (NASDAQ:NBIX) traded up 5.15% during mid-day trading on Friday, hitting $16.95. 1,340,138 shares of the company’s stock traded hands. Neurocrine Biosciences has a one year low of $8.57 and a one year high of $20.29. The stock has a 50-day moving average of $15.48 and a 200-day moving average of $12.49. The company’s market cap is $1.141 billion. Neurocrine Biosciences also was the recipient of a significant increase in short interest in January. As of January 15th, there was short interest totalling 4,989,218 shares, an increase of 23.7% from the December 31st total of 3,806,016 shares. Based on an average daily volume of 3,311,505 shares, the short-interest ratio is presently 1.5 days. Approximately 7.5% of the shares of the stock are short sold.
Neurocrine Biosciences (NASDAQ:NBIX) last issued its quarterly earnings data on Thursday, February 6th. The company reported ($0.16) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.17) by $0.01. 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 $0.14 earnings per share. The company’s revenue for the quarter was down 96.7% on a year-over-year basis. On average, analysts predict that Neurocrine Biosciences will post $-0.41 earnings per share for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at Nomura initiated coverage on shares of Neurocrine Biosciences in a research note to investors on Wednesday, January 8th. They set a “buy” rating on the stock. Separately, analysts at Morgan Stanley downgraded shares of Neurocrine Biosciences from an “overweight” rating to an “equal weight” rating in a research note to investors on Wednesday, January 8th. They now have a $16.00 price target on the stock. Finally, analysts at Jefferies Group raised their price target on shares of Neurocrine Biosciences from $16.00 to $23.00 in a research note to investors on Wednesday, January 8th. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $19.90.
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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