Neurocrine Biosciences Inc. (NBIX) Stock Rating Reaffirmed by BMO Capital Markets
Neurocrine Biosciences Inc. (NASDAQ:NBIX)‘s stock had its “outperform” rating reissued by investment analysts at BMO Capital Markets in a report released on Thursday. They currently have a $66.00 price objective on the stock. BMO Capital Markets’ price objective indicates a potential upside of 49.46% from the company’s previous close.
NBIX has been the topic of a number of other research reports. Piper Jaffray Cos. reiterated an “overweight” rating and issued a $96.00 price objective on shares of Neurocrine Biosciences in a report on Thursday, September 22nd. Jefferies Group reiterated a “buy” rating and issued a $61.00 price objective on shares of Neurocrine Biosciences in a report on Friday, September 23rd. Leerink Swann began coverage on Neurocrine Biosciences in a report on Tuesday, October 4th. They issued an “outperform” rating and a $70.00 price objective on the stock. HC Wainwright reiterated a “buy” rating on shares of Neurocrine Biosciences in a report on Friday, August 5th. Finally, Cowen and Company reiterated a “buy” rating and issued a $65.00 price objective on shares of Neurocrine Biosciences in a report on Friday, August 5th. One analyst has rated the stock with a sell rating and ten have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $65.50.
Neurocrine Biosciences (NASDAQ:NBIX) traded up 2.53% during midday trading on Thursday, hitting $44.16. The company had a trading volume of 1,237,787 shares. The company’s market cap is $3.83 billion. The firm has a 50-day moving average price of $50.32 and a 200-day moving average price of $47.58. Neurocrine Biosciences has a 12 month low of $31.25 and a 12 month high of $58.46.
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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 value of $450,000.00. Following the transaction, the insider now owns 9,000 shares of the company’s stock, valued at $450,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Christopher Flint Obrien sold 12,500 shares of the company’s stock in a transaction on Monday, August 15th. The shares were sold at an average price of $48.73, for a total value of $609,125.00. Following the completion of the transaction, the insider now directly owns 55,044 shares in the company, valued at approximately $2,682,294.12. The disclosure for this sale can be found here. 4.80% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of NBIX. First Mercantile Trust Co. boosted its position 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. Stephens Inc. AR bought a new position in Neurocrine Biosciences during the second quarter valued at about $205,000. Fox Run Management L.L.C. bought a new position in Neurocrine Biosciences during the third quarter valued at about $218,000. Adams Diversified Equity Fund Inc. bought a new position in Neurocrine Biosciences during the second quarter valued at about $223,000. Finally, M&T Bank Corp bought a new position in Neurocrine Biosciences during the first quarter valued at about $262,000. 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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