Neurocrine Biosciences, Inc. (NBIX) Upgraded to “Hold” at BidaskClub
Neurocrine Biosciences, Inc. (NASDAQ:NBIX) was upgraded by equities research analysts at BidaskClub from a “sell” rating to a “hold” rating in a report issued on Wednesday.
A number of other analysts have also commented on NBIX. Piper Jaffray Companies set a $68.00 target price on shares of Neurocrine Biosciences and gave the stock a “buy” rating in a report on Wednesday, May 24th. J P Morgan Chase & Co set a $57.00 target price on shares of Neurocrine Biosciences and gave the stock a “buy” rating in a report on Wednesday, May 24th. Oppenheimer Holdings, Inc. set a $70.00 target price on shares of Neurocrine Biosciences and gave the stock a “buy” rating in a report on Wednesday, May 24th. Jefferies Group LLC reaffirmed a “buy” rating and set a $66.00 target price on shares of Neurocrine Biosciences in a report on Tuesday, May 30th. Finally, Leerink Swann lowered their target price on shares of Neurocrine Biosciences from $68.00 to $66.00 and set an “outperform” rating for the company in a report on Thursday, May 25th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and sixteen have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $67.69.
Shares of Neurocrine Biosciences (NASDAQ:NBIX) traded up 3.94% during trading on Wednesday, reaching $47.47. The company had a trading volume of 1,216,066 shares. The company’s market cap is $4.18 billion. The firm has a 50-day moving average of $48.73 and a 200-day moving average of $45.01. 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) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.67) by $0.23. During the same quarter last year, the business earned ($0.22) EPS. On average, equities research analysts anticipate that Neurocrine Biosciences will post ($2.46) EPS for the current year.
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In other Neurocrine Biosciences news, CEO Kevin Charles Gorman sold 19,596 shares of Neurocrine Biosciences stock in a transaction on Wednesday, April 12th. The shares were sold at an average price of $50.42, for a total value of $988,030.32. Following the sale, the chief executive officer now directly owns 332,913 shares in the company, valued at approximately $16,785,473.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Corinne H. Nevinny sold 5,000 shares of Neurocrine Biosciences stock in a transaction on Friday, May 5th. The shares were sold at an average price of $53.98, for a total transaction of $269,900.00. Following the completion of the sale, the director now owns 34,603 shares in the company, valued at $1,867,869.94. The disclosure for this sale can be found here. Insiders sold a total of 104,360 shares of company stock worth $5,501,889 over the last quarter. Company insiders own 4.80% of the company’s stock.
A number of large investors have recently modified their holdings of NBIX. Teachers Retirement System of The State of Kentucky acquired a new stake in shares of Neurocrine Biosciences during the first quarter valued at about $2,083,000. Goldman Sachs Group Inc. raised its stake in shares of Neurocrine Biosciences by 126.0% in the first quarter. Goldman Sachs Group Inc. now owns 1,743,949 shares of the company’s stock valued at $75,513,000 after buying an additional 972,434 shares during the last quarter. Point72 Asset Management L.P. acquired a new stake in shares of Neurocrine Biosciences during the first quarter valued at about $4,330,000. Janus Capital Management LLC raised its stake in shares of Neurocrine Biosciences by 85.0% in the first quarter. Janus Capital Management LLC now owns 4,359,384 shares of the company’s stock valued at $188,759,000 after buying an additional 2,002,899 shares during the last quarter. Finally, Macquarie Group Ltd. raised its stake in shares of Neurocrine Biosciences by 22.8% in the first quarter. Macquarie Group Ltd. now owns 775,890 shares of the company’s stock valued at $33,596,000 after buying an additional 143,825 shares during the last quarter. Hedge funds and other institutional investors own 95.90% 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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