Neurocrine Biosciences, Inc. (NBIX) PT Lowered to $66.00 at Leerink Swann
Neurocrine Biosciences, Inc. (NASDAQ:NBIX) had its price objective decreased by equities researchers at Leerink Swann from $68.00 to $66.00 in a note issued to investors on Thursday. The brokerage currently has an “outperform” rating on the stock. Leerink Swann’s price target would indicate a potential upside of 42.80% from the company’s previous close.
Other research analysts have also recently issued research reports about the company. Oppenheimer Holdings Inc. reaffirmed an “outperform” rating and set a $55.00 price target on shares of Neurocrine Biosciences in a research report on Friday, February 10th. Jefferies Group LLC upped their price target on Neurocrine Biosciences from $65.00 to $67.00 and gave the company a “buy” rating in a research report on Monday, May 1st. Needham & Company LLC reaffirmed a “buy” rating and set a $58.00 price target (down previously from $62.00) on shares of Neurocrine Biosciences in a research report on Wednesday. Bank of America Corp began coverage on Neurocrine Biosciences in a research report on Friday, May 5th. They set a “buy” rating and a $70.00 price target on the stock. Finally, JPMorgan Chase & Co. set a $60.00 price target on Neurocrine Biosciences and gave the company a “buy” rating in a research report on Wednesday, April 12th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and sixteen have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $67.75.
Neurocrine Biosciences (NASDAQ:NBIX) traded down 4.99% on Thursday, reaching $46.22. The company’s stock had a trading volume of 1,626,169 shares. The firm has a 50 day moving average of $51.55 and a 200 day moving average of $45.71. The firm’s market cap is $4.07 billion. Neurocrine Biosciences has a 12 month low of $37.35 and a 12 month high of $55.38.
Neurocrine Biosciences (NASDAQ:NBIX) last issued its quarterly earnings results on Tuesday, May 9th. The company reported ($0.90) EPS for the quarter, missing analysts’ consensus estimates of ($0.67) by $0.23. During the same quarter in the previous year, the firm earned ($0.22) earnings per share. Analysts anticipate that Neurocrine Biosciences will post ($2.46) earnings per share for the current year.
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In other Neurocrine Biosciences news, CEO Kevin Charles Gorman sold 21,739 shares of the company’s stock in a transaction dated Tuesday, May 2nd. The stock was sold at an average price of $53.23, for a total value of $1,157,166.97. Following the transaction, the chief executive officer now directly owns 354,346 shares in the company, valued at approximately $18,861,837.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Malcolm Lloyd-Smith sold 9,960 shares of the company’s stock in a transaction dated Friday, May 19th. The stock was sold at an average price of $53.63, for a total value of $534,154.80. Following the completion of the transaction, the insider now owns 17,997 shares in the company, valued at $965,179.11. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 104,360 shares of company stock worth $5,501,889. 4.80% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently made changes to their positions in NBIX. Independent Portfolio Consultants Inc. acquired a new position in shares of Neurocrine Biosciences during the first quarter worth $106,000. First Mercantile Trust Co. raised its position in shares of Neurocrine Biosciences by 22.2% in the first quarter. First Mercantile Trust Co. now owns 3,082 shares of the company’s stock worth $133,000 after buying an additional 560 shares in the last quarter. Capstone Asset Management Co. acquired a new position in shares of Neurocrine Biosciences during the first quarter worth $214,000. Grandfield & Dodd LLC acquired a new position in shares of Neurocrine Biosciences during the first quarter worth $230,000. Finally, Opus Point Partners Management LLC raised its position in shares of Neurocrine Biosciences by 50.9% in the fourth quarter. Opus Point Partners Management LLC now owns 6,137 shares of the company’s stock worth $238,000 after buying an additional 2,069 shares in the last quarter. Institutional investors and hedge funds own 97.60% of the company’s stock.
About Neurocrine Biosciences
Neurocrine Biosciences, Inc is engaged in discovering and developing pharmaceuticals, in diseases with unmet medical needs, through its research and development (R&D) platform, focused on neurological and endocrine based diseases and disorders. Its three lead late-stage clinical programs are elagolix, which is a gonadotropin-releasing hormone (GnRH) antagonist for endometriosis and uterine fibroids; INGREZZA (valbenazine), which is a vesicular monoamine transporter 2 (VMAT2) inhibitor, for the treatment of movement disorders, and opicapone, which is a selective catechol-O-methyltransferase inhibitor that is an adjunct therapy to preparations of levodopa/Dihydroxyphenylalanine (DOPA) decarboxylase inhibitors for adult patients with Parkinson’s disease.
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