Neurocrine Biosciences, Inc. (NBIX) PT Set at $68.00 by Piper Jaffray Companies
Neurocrine Biosciences, Inc. (NASDAQ:NBIX) has been given a $68.00 price target by equities research analysts at Piper Jaffray Companies in a research note issued to investors on Thursday. The brokerage currently has a “buy” rating on the stock. Piper Jaffray Companies’ price objective indicates a potential upside of 25.90% from the company’s current price.
NBIX has been the topic of several other reports. ValuEngine upgraded Neurocrine Biosciences from a “strong sell” rating to a “sell” rating in a research report on Friday, June 2nd. Jefferies Group LLC restated a “buy” rating and issued a $67.00 price target on shares of Neurocrine Biosciences in a research report on Monday, May 22nd. BidaskClub upgraded Neurocrine Biosciences from a “sell” rating to a “hold” rating in a report on Wednesday, June 21st. BMO Capital Markets lifted their target price on Neurocrine Biosciences from $75.00 to $84.00 and gave the stock an “outperform” rating in a report on Friday, August 4th. Finally, Barclays PLC lifted their target price on Neurocrine Biosciences from $60.00 to $70.00 and gave the stock an “overweight” rating in a report on Tuesday, May 2nd. One investment analyst has rated the stock with a sell rating, one has given a hold rating and seventeen have given a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $68.25.
Neurocrine Biosciences (NBIX) traded up 3.91% on Thursday, hitting $54.01. The stock had a trading volume of 834,956 shares. The company’s market cap is $4.76 billion. Neurocrine Biosciences has a one year low of $37.35 and a one year high of $55.38. The stock has a 50-day moving average of $49.89 and a 200-day moving average of $47.50.
Neurocrine Biosciences (NASDAQ:NBIX) last posted its quarterly earnings results on Thursday, August 3rd. The company reported ($0.68) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.67) by $0.01. The firm had revenue of $6.34 million during the quarter, compared to analyst estimates of $0.61 million. During the same quarter in the prior year, the company earned ($0.46) EPS. Equities analysts expect that Neurocrine Biosciences will post ($2.45) earnings per share for the current fiscal year.
In related news, insider Haig P. Bozigian sold 22,500 shares of Neurocrine Biosciences stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $50.00, for a total value of $1,125,000.00. Following the sale, the insider now owns 154,601 shares of the company’s stock, valued at $7,730,050. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Dimitri E. Grigoriadis sold 15,354 shares of Neurocrine Biosciences stock in a transaction dated Wednesday, August 9th. The shares were sold at an average price of $55.00, for a total value of $844,470.00. Following the completion of the sale, the insider now directly owns 123,045 shares in the company, valued at approximately $6,767,475. The disclosure for this sale can be found here. In the last ninety days, insiders sold 46,588 shares of company stock worth $2,406,170. 4.80% of the stock is owned by company insiders.
Hedge funds have recently added to or reduced their stakes in the stock. Independent Portfolio Consultants Inc. bought a new stake in Neurocrine Biosciences during the first quarter worth about $106,000. The Manufacturers Life Insurance Company increased its stake in 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 in the last quarter. First Mercantile Trust Co. increased its stake in 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. ARS Investment Partners LLC bought a new stake in Neurocrine Biosciences during the second quarter worth about $207,000. Finally, Stephens Inc. AR bought a new stake in Neurocrine Biosciences during the second quarter worth about $207,000. 95.87% of the stock is currently owned by institutional investors and hedge funds.
Neurocrine Biosciences Company Profile
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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