Neurocrine Biosciences Inc. (NBIX) Given a $96.00 Price Target at Piper Jaffray Cos.
Neurocrine Biosciences Inc. (NASDAQ:NBIX) has been assigned a $96.00 price objective by research analysts at Piper Jaffray Cos. in a research note issued on Tuesday. The firm presently has a a “buy” rating on the stock. Piper Jaffray Cos.’s target price suggests a potential upside of 113.33% from the stock’s previous close.
A number of other equities analysts also recently issued reports on NBIX. Cowen and Company reiterated a “buy” rating and issued a $65.00 price target on shares of Neurocrine Biosciences in a report on Friday, August 5th. HC Wainwright assumed coverage on shares of Neurocrine Biosciences in a report on Wednesday, June 29th. They issued a “buy” rating and a $80.00 price target for the company. BMO Capital Markets reiterated an “outperform” rating and issued a $66.00 price target on shares of Neurocrine Biosciences in a report on Friday, September 23rd. TheStreet downgraded shares of Neurocrine Biosciences from a “hold” rating to a “sell” rating in a report on Thursday, July 14th. Finally, Jefferies Group reiterated a “buy” rating and issued a $61.00 price target on shares of Neurocrine Biosciences in a report on Friday, September 23rd. One analyst has rated the stock with a sell 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 $65.50.
Neurocrine Biosciences (NASDAQ:NBIX) traded down 3.39% during midday trading on Tuesday, hitting $45.00. 985,568 shares of the stock were exchanged. Neurocrine Biosciences has a 12-month low of $31.25 and a 12-month high of $58.46. The stock’s market cap is $3.90 billion. The firm has a 50 day moving average of $50.71 and a 200-day moving average of $47.63.
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In other Neurocrine Biosciences news, insider Christopher Flint Obrien sold 12,500 shares of the firm’s stock in a transaction dated Monday, August 15th. The shares were sold at an average price of $48.73, for a total transaction of $609,125.00. Following the sale, the insider now directly owns 55,044 shares of the company’s stock, valued at approximately $2,682,294.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Malcolm Lloyd-Smith sold 9,000 shares of the firm’s stock in a transaction dated Thursday, September 1st. The stock was sold at an average price of $50.00, for a total transaction of $450,000.00. Following the sale, the insider now directly owns 9,000 shares in the company, valued at $450,000. The disclosure for this sale can be found here. Company insiders own 4.80% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the company. First Mercantile Trust Co. boosted its stake in Neurocrine Biosciences by 94.9% in the third quarter. First Mercantile Trust Co. now owns 3,897 shares of the company’s stock valued at $197,000 after buying an additional 1,897 shares in the last quarter. BNP Paribas Arbitrage SA boosted its stake in Neurocrine Biosciences by 13.6% in the third quarter. BNP Paribas Arbitrage SA now owns 14,472 shares of the company’s stock valued at $733,000 after buying an additional 1,736 shares in the last quarter. Royal Bank of Canada boosted its stake in Neurocrine Biosciences by 3.1% in the second quarter. Royal Bank of Canada now owns 477,152 shares of the company’s stock valued at $21,686,000 after buying an additional 14,449 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new stake in Neurocrine Biosciences during the second quarter valued at about $2,522,000. Finally, Amalgamated Bank boosted its stake in Neurocrine Biosciences by 52.6% in the second quarter. Amalgamated Bank now owns 13,729 shares of the company’s stock valued at $662,000 after buying an additional 4,735 shares in the last quarter. 96.70% of the stock is currently owned by institutional investors.
About Neurocrine Biosciences
Neurocrine Biosciences, Inc is engaged in the development of pharmaceutical products focused on neurological and endocrine-based diseases and disorders. The Company’s two lead late-stage clinical programs are Elagolix, a gonadotropin-releasing hormone (GnRH) antagonist for women’s health that is partnered with AbbVie Inc (AbbVie), and NBI-98854 (valbenazine), a vesicular monoamine transporter 2 (VMAT2) inhibitor for the treatment of movement disorders.
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