Neurocrine Biosciences, Inc. (NBIX) Receives Average Rating of “Buy” from Brokerages
Neurocrine Biosciences, Inc. (NASDAQ:NBIX) has received a consensus rating of “Buy” from the nineteen analysts that are currently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and seventeen have issued a buy recommendation on the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $68.25.
Several brokerages recently weighed in on NBIX. Barclays PLC increased their price target on shares of Neurocrine Biosciences from $60.00 to $70.00 and gave the stock an “overweight” rating in a report on Tuesday, May 2nd. Cowen and Company reiterated an “outperform” rating and issued a $65.00 price target (up previously from $60.00) on shares of Neurocrine Biosciences in a report on Wednesday, August 9th. BidaskClub upgraded shares of Neurocrine Biosciences from a “hold” rating to a “buy” rating in a report on Wednesday, August 9th. Bank of America Corporation began coverage on shares of Neurocrine Biosciences in a report on Friday, May 5th. They issued a “buy” rating and a $70.00 price target on the stock. Finally, Jefferies Group LLC increased their price target on shares of Neurocrine Biosciences from $65.00 to $67.00 and gave the stock a “buy” rating in a report on Monday, May 1st.
Neurocrine Biosciences (NBIX) opened at 53.12 on Friday. The stock’s market cap is $4.69 billion. The company has a 50 day moving average of $49.32 and a 200-day moving average of $47.18. 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 Thursday, August 3rd. The company reported ($0.68) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.67) by $0.01. The company had revenue of $6.34 million for the quarter, compared to the consensus estimate of $0.61 million. During the same quarter in the previous year, the business posted ($0.46) EPS. Equities analysts forecast that Neurocrine Biosciences will post ($2.45) earnings per share for the current year.
In other news, insider Christopher Flint Obrien sold 8,734 shares of the stock in a transaction that occurred on Thursday, July 27th. The stock was sold at an average price of $50.00, for a total transaction of $436,700.00. Following the transaction, the insider now owns 57,707 shares in the company, valued at approximately $2,885,350. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Haig P. Bozigian sold 22,500 shares of the stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $50.00, for a total value of $1,125,000.00. Following the transaction, the insider now owns 154,601 shares in the company, valued at approximately $7,730,050. The disclosure for this sale can be found here. Insiders have sold a total of 56,588 shares of company stock worth $2,940,070 in the last quarter. Insiders own 4.80% of the company’s stock.
Several hedge funds and other 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 about $106,000. The Manufacturers Life Insurance Company raised its position in shares of Neurocrine Biosciences by 7.8% in the second quarter. The Manufacturers Life Insurance Company now owns 2,665 shares of the company’s stock worth $123,000 after buying an additional 193 shares during the period. 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 during the period. ARS Investment Partners LLC acquired a new position in shares of Neurocrine Biosciences during the second quarter worth about $207,000. Finally, Stephens Inc. AR acquired a new position in shares of Neurocrine Biosciences during the second quarter worth about $207,000. Hedge funds and other institutional investors own 95.87% 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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