Neurocrine Biosciences, Inc. (NBIX) Earns Buy Rating from Jefferies Group LLC
Neurocrine Biosciences, Inc. (NASDAQ:NBIX)‘s stock had its “buy” rating reiterated by analysts at Jefferies Group LLC in a report released on Tuesday. They currently have a $69.00 target price on the stock, up from their previous target price of $66.00. Jefferies Group LLC’s target price would suggest a potential upside of 11.40% from the stock’s current price.
NBIX has been the subject of a number of other reports. Robert W. Baird reaffirmed an “outperform” rating and issued a $66.00 target price on shares of Neurocrine Biosciences in a research note on Thursday, September 21st. BidaskClub raised shares of Neurocrine Biosciences from a “sell” rating to a “hold” rating in a report on Wednesday, June 21st. Oppenheimer Holdings Inc. reissued an “outperform” rating and issued a $70.00 price target on shares of Neurocrine Biosciences in a report on Wednesday, July 5th. Cowen and Company restated an “outperform” rating and issued a $65.00 price objective (up previously from $60.00) on shares of Neurocrine Biosciences in a research report on Wednesday, August 9th. Finally, ValuEngine upgraded shares of Neurocrine Biosciences from a “sell” rating to a “hold” rating in a research report on Friday, September 1st. Two investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. Neurocrine Biosciences has an average rating of “Buy” and an average price target of $68.44.
Shares of Neurocrine Biosciences (NASDAQ:NBIX) traded up 0.19% during trading on Tuesday, reaching $61.94. 677,413 shares of the company were exchanged. The stock has a 50-day moving average of $56.19 and a 200 day moving average of $50.07. Neurocrine Biosciences has a 52-week low of $37.35 and a 52-week high of $62.90. The stock’s market capitalization is $5.46 billion.
Neurocrine Biosciences (NASDAQ:NBIX) last posted its quarterly earnings data 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 firm had revenue of $6.34 million for the quarter, compared to the consensus estimate of $0.61 million. During the same period last year, the firm posted ($0.46) earnings per share. On average, equities analysts anticipate that Neurocrine Biosciences will post ($2.44) earnings per share for the current fiscal year.
In other news, insider Haig P. Bozigian sold 26,250 shares of Neurocrine Biosciences stock in a transaction on Wednesday, September 6th. The shares were sold at an average price of $60.00, for a total transaction of $1,575,000.00. Following the transaction, the insider now directly owns 144,601 shares of the company’s stock, valued at $8,676,060. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Christopher Flint Obrien sold 8,734 shares of Neurocrine Biosciences 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 transaction, the insider now directly owns 57,707 shares in the company, valued at $2,885,350. The disclosure for this sale can be found here. Insiders have sold a total of 125,655 shares of company stock valued at $7,018,148 over the last 90 days. Corporate insiders own 4.80% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. UBS Asset Management Americas Inc. raised its position in shares of Neurocrine Biosciences by 3.0% during the first quarter. UBS Asset Management Americas Inc. now owns 595,258 shares of the company’s stock worth $25,775,000 after purchasing an additional 17,124 shares during the period. Karp Capital Management Corp bought a new stake in shares of Neurocrine Biosciences during the first quarter worth $932,000. Parametric Portfolio Associates LLC increased its position in shares of Neurocrine Biosciences by 8.6% during the first quarter. Parametric Portfolio Associates LLC now owns 53,059 shares of the company’s stock worth $2,297,000 after acquiring an additional 4,212 shares in the last quarter. Schroder Investment Management Group increased its position in shares of Neurocrine Biosciences by 1.7% during the first quarter. Schroder Investment Management Group now owns 20,496 shares of the company’s stock worth $856,000 after acquiring an additional 335 shares in the last quarter. Finally, Neuberger Berman Group LLC increased its position in shares of Neurocrine Biosciences by 35.3% during the first quarter. Neuberger Berman Group LLC now owns 431,583 shares of the company’s stock worth $18,688,000 after acquiring an additional 112,500 shares in 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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