Piper Jaffray Cos. Analysts Give Neurocrine Biosciences Inc. (NBIX) a $96.00 Price Target
Neurocrine Biosciences Inc. (NASDAQ:NBIX) received a $96.00 target price from analysts at Piper Jaffray Cos. in a research note issued on Tuesday. The firm currently has a a “buy” rating on the stock. Piper Jaffray Cos.’s price target points to a potential upside of 106.10% from the stock’s current price.
A number of other brokerages have also recently issued reports on NBIX. BMO Capital Markets restated an “outperform” rating and set a $66.00 price objective on shares of Neurocrine Biosciences in a report on Friday, September 23rd. Robert W. Baird restated an “outperform” rating and set a $66.00 price objective on shares of Neurocrine Biosciences in a report on Tuesday, August 30th. Leerink Swann started coverage on Neurocrine Biosciences in a report on Tuesday, October 4th. They set an “outperform” rating and a $70.00 price objective for the company. TheStreet cut Neurocrine Biosciences from a “hold” rating to a “sell” rating in a report on Thursday, July 14th. Finally, HC Wainwright started coverage on Neurocrine Biosciences in a report on Wednesday, June 29th. They set a “buy” rating and a $80.00 price objective for the company. One research analyst has rated the stock with a sell rating and ten have given a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $65.50.
Neurocrine Biosciences (NASDAQ:NBIX) traded down 3.86% during midday trading on Tuesday, hitting $44.78. The stock had a trading volume of 510,720 shares. The company has a 50-day moving average of $50.90 and a 200-day moving average of $47.65. Neurocrine Biosciences has a 1-year low of $31.25 and a 1-year high of $58.46. The stock’s market cap is $3.88 billion.
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In other Neurocrine Biosciences news, insider Malcolm Lloyd-Smith sold 9,000 shares of the company’s stock in a transaction on Thursday, September 1st. The stock was sold at an average price of $50.00, for a total transaction of $450,000.00. Following the completion of the sale, the insider now directly owns 9,000 shares in the company, valued at $450,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Corinne H. Nevinny sold 5,000 shares of the company’s stock in a transaction on Monday, August 8th. The stock was sold at an average price of $48.54, for a total value of $242,700.00. Following the sale, the director now owns 25,555 shares of the company’s stock, valued at $1,240,439.70. The disclosure for this sale can be found here. Company insiders own 4.80% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the company. Aperio Group LLC boosted its stake in Neurocrine Biosciences by 23.0% in the first quarter. Aperio Group LLC now owns 9,406 shares of the company’s stock valued at $372,000 after buying an additional 1,761 shares during the last quarter. Pacad Investment Ltd. bought a new position in shares of Neurocrine Biosciences during the first quarter valued at about $338,000. TIAA CREF Investment Management LLC increased its position in shares of Neurocrine Biosciences by 7.6% in the first quarter. TIAA CREF Investment Management LLC now owns 351,198 shares of the company’s stock valued at $13,890,000 after buying an additional 24,842 shares during the period. Prudential Financial Inc. increased its position in shares of Neurocrine Biosciences by 201.0% in the first quarter. Prudential Financial Inc. now owns 265,185 shares of the company’s stock valued at $10,488,000 after buying an additional 177,088 shares during the period. Finally, BlackRock Fund Advisors increased its position in shares of Neurocrine Biosciences by 1.7% in the first quarter. BlackRock Fund Advisors now owns 3,223,549 shares of the company’s stock valued at $127,491,000 after buying an additional 53,137 shares during the period. Hedge funds and other institutional investors own 96.70% of the company’s stock.
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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