Neurocrine Biosciences’ (NBIX) “Buy” Rating Reiterated at Oppenheimer Holdings, Inc.
Neurocrine Biosciences, Inc. (NASDAQ:NBIX)‘s stock had its “buy” rating reaffirmed by investment analysts at Oppenheimer Holdings, Inc. in a research report issued on Thursday. They presently have a $70.00 target price on the stock. Oppenheimer Holdings, Inc.’s price objective indicates a potential upside of 19.37% from the stock’s current price.
Several other research analysts also recently weighed in on NBIX. Bank of America Corporation reiterated a “buy” rating and issued a $70.00 price target on shares of Neurocrine Biosciences in a report on Monday, May 15th. Jefferies Group LLC reissued a “buy” rating and set a $67.00 price objective on shares of Neurocrine Biosciences in a research note on Monday, May 22nd. Needham & Company LLC reissued a “buy” rating and set a $58.00 price objective (down from $62.00) on shares of Neurocrine Biosciences in a research note on Wednesday, May 24th. Leerink Swann lowered their price objective on shares of Neurocrine Biosciences from $68.00 to $66.00 and set an “outperform” rating for the company in a research note on Thursday, May 25th. Finally, BMO Capital Markets reissued an “outperform” rating and set a $75.00 price objective on shares of Neurocrine Biosciences in a research note on Thursday, May 25th. Two analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $68.25.
Neurocrine Biosciences (NASDAQ NBIX) traded down 1.26% during midday trading on Thursday, reaching $57.90. 645,221 shares of the company traded hands. The firm has a 50-day moving average price of $52.12 and a 200-day moving average price of $48.30. Neurocrine Biosciences has a one year low of $37.35 and a one year high of $60.00. The firm’s market capitalization is $5.11 billion.
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 business had revenue of $6.34 million during the quarter, compared to the consensus estimate of $0.61 million. During the same period in the previous year, the business earned ($0.46) EPS. Equities analysts predict that Neurocrine Biosciences will post ($2.45) EPS for the current fiscal year.
In related news, insider Dimitri E. Grigoriadis sold 15,354 shares of the company’s stock in a transaction on Wednesday, August 9th. The shares were sold at an average price of $55.00, for a total transaction of $844,470.00. Following the completion of the sale, the insider now directly owns 123,045 shares of the company’s stock, valued at approximately $6,767,475. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Christopher Flint Obrien sold 8,734 shares of the company’s stock in a transaction 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 sale, the insider now directly owns 57,707 shares of the company’s stock, valued at $2,885,350. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 46,588 shares of company stock valued at $2,406,170. 4.80% of the stock is owned by corporate insiders.
A number of institutional investors have recently made changes to their positions in NBIX. The Manufacturers Life Insurance Company boosted its position in Neurocrine Biosciences by 7.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,665 shares of the company’s stock worth $123,000 after purchasing an additional 193 shares during the period. First Mercantile Trust Co. boosted its position in Neurocrine Biosciences by 22.2% during the 1st quarter. First Mercantile Trust Co. now owns 3,082 shares of the company’s stock worth $133,000 after purchasing an additional 560 shares during the period. ARS Investment Partners LLC purchased a new stake in Neurocrine Biosciences during the 2nd quarter worth $207,000. Stephens Inc. AR purchased a new stake in Neurocrine Biosciences during the 2nd quarter worth $207,000. Finally, Capstone Asset Management Co. purchased a new stake in Neurocrine Biosciences during the 1st quarter worth $214,000.
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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