Neurocrine Biosciences, Inc. (NBIX) Given “Buy” Rating at Needham & Company LLC
Neurocrine Biosciences, Inc. (NASDAQ:NBIX)‘s stock had its “buy” rating reissued by Needham & Company LLC in a research note issued to investors on Sunday. They presently have a $58.00 price target on the stock. Needham & Company LLC’s price objective suggests a potential upside of 2.27% from the stock’s previous close.
Several other analysts have also issued reports on NBIX. Cowen and Company reiterated an “outperform” rating and set a $65.00 price objective (up from $60.00) on shares of Neurocrine Biosciences in a report on Wednesday, August 9th. Piper Jaffray Companies set a $68.00 price objective on Neurocrine Biosciences and gave the stock a “buy” rating in a report on Wednesday, May 24th. BMO Capital Markets increased their price objective on Neurocrine Biosciences from $75.00 to $84.00 and gave the stock an “outperform” rating in a report on Friday, August 4th. BidaskClub upgraded Neurocrine Biosciences from a “hold” rating to a “buy” rating in a report on Wednesday, August 9th. Finally, Oppenheimer Holdings, Inc. set a $70.00 price objective on Neurocrine Biosciences and gave the stock a “buy” rating in a report on Wednesday, May 24th. Two analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $68.25.
Shares of Neurocrine Biosciences (NASDAQ:NBIX) opened at 56.71 on Friday. Neurocrine Biosciences has a 52-week low of $37.35 and a 52-week high of $60.00. The stock’s market cap is $5.00 billion. The firm’s 50-day moving average price is $53.95 and its 200-day moving average price is $48.92.
Neurocrine Biosciences (NASDAQ:NBIX) last announced its quarterly earnings data 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 company had revenue of $6.34 million during the quarter, compared to analyst estimates of $0.61 million. During the same period last year, the company posted ($0.46) EPS. On average, equities research analysts forecast that Neurocrine Biosciences will post ($2.45) earnings per share for the current fiscal year.
In other Neurocrine Biosciences news, insider Haig P. Bozigian sold 22,500 shares of the firm’s stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $50.00, for a total transaction of $1,125,000.00. Following the transaction, the insider now directly owns 154,601 shares in the company, valued at $7,730,050. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Haig P. Bozigian sold 26,250 shares of the firm’s stock in a transaction dated Wednesday, September 6th. The shares were sold at an average price of $60.00, for a total value of $1,575,000.00. Following the transaction, the insider now owns 144,601 shares in the company, valued at $8,676,060. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 125,655 shares of company stock worth $7,018,148. Corporate insiders own 4.80% of the company’s stock.
Large investors have recently modified their holdings of the company. The Manufacturers Life Insurance Company grew 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 valued at $123,000 after purchasing an additional 193 shares during the last quarter. ARS Investment Partners LLC acquired a new stake in shares of Neurocrine Biosciences in the second quarter valued at about $207,000. Stephens Inc. AR acquired a new stake in shares of Neurocrine Biosciences in the second quarter valued at about $207,000. Capstone Asset Management Co. acquired a new stake in shares of Neurocrine Biosciences in the first quarter valued at about $214,000. Finally, Cubist Systematic Strategies LLC grew its position in shares of Neurocrine Biosciences by 151.5% in the second quarter. Cubist Systematic Strategies LLC now owns 5,301 shares of the company’s stock valued at $244,000 after purchasing an additional 3,193 shares during the last quarter.
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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