Neurocrine Biosciences Inc. (NBIX) Receives Overweight Rating from Piper Jaffray Cos.
Neurocrine Biosciences Inc. (NASDAQ:NBIX)‘s stock had its “overweight” rating reissued by Piper Jaffray Cos. in a report released on Tuesday. They presently have a $96.00 price objective on the stock. Piper Jaffray Cos.’s price objective would indicate a potential upside of 126.95% from the company’s current price.
Several other brokerages have also issued reports on NBIX. Needham & Company LLC initiated coverage on shares of Neurocrine Biosciences in a research note on Tuesday. They set a “buy” rating and a $62.00 price target for the company. BMO Capital Markets restated an “outperform” rating and set a $66.00 price target on shares of Neurocrine Biosciences in a research note on Friday, September 23rd. Robert W. Baird reaffirmed an “outperform” rating and issued a $66.00 price objective on shares of Neurocrine Biosciences in a report on Tuesday, August 30th. Leerink Swann assumed coverage on shares of Neurocrine Biosciences in a report on Tuesday, October 4th. They issued an “outperform” rating and a $70.00 price objective for the company. Finally, TheStreet downgraded shares of Neurocrine Biosciences from a “hold” rating to a “sell” rating in a report on Thursday, July 14th. One investment analyst has rated the stock with a sell rating and eleven have issued a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $65.18.
Shares of Neurocrine Biosciences (NASDAQ:NBIX) traded up 4.52% on Tuesday, reaching $44.21. The company’s stock had a trading volume of 659,131 shares. The company’s market cap is $3.84 billion. Neurocrine Biosciences has a 52-week low of $31.25 and a 52-week high of $58.46. The firm has a 50 day moving average of $49.92 and a 200 day moving average of $47.80.
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In other news, insider Christopher Flint Obrien sold 12,500 shares of the firm’s stock in a transaction on 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 owns 55,044 shares in the company, valued at approximately $2,682,294.12. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Corinne H. Nevinny sold 5,000 shares of the firm’s stock in a transaction on Monday, August 8th. The shares were sold at an average price of $48.54, for a total transaction of $242,700.00. Following the sale, the director now owns 25,555 shares in the company, valued at approximately $1,240,439.70. The disclosure for this sale can be found here. 4.80% of the stock is currently owned by company insiders.
Several hedge funds have recently bought and sold shares of NBIX. 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 during the period. Fox Run Management L.L.C. bought a new stake in Neurocrine Biosciences during the third quarter valued at $218,000. Stephens Inc. AR bought a new stake in Neurocrine Biosciences during the second quarter valued at $205,000. Adams Diversified Equity Fund Inc. bought a new stake in Neurocrine Biosciences during the second quarter valued at $223,000. Finally, Creative Planning boosted its stake in Neurocrine Biosciences by 0.7% in the third quarter. Creative Planning now owns 5,338 shares of the company’s stock valued at $270,000 after buying an additional 38 shares during the period. Hedge funds and other institutional investors own 96.71% of the company’s stock.
Neurocrine Biosciences Company Profile
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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