Neurocrine Biosciences, Inc. (NBIX) Receives Consensus Rating of “Buy” from Analysts
Neurocrine Biosciences, Inc. (NASDAQ:NBIX) has earned a consensus rating of “Buy” from the nineteen analysts that are covering the stock, MarketBeat.com reports. Two investment analysts have rated the stock with a hold recommendation and seventeen have issued a buy recommendation on the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $69.31.
Several research firms recently commented on NBIX. Piper Jaffray Companies reaffirmed a “buy” rating and set a $76.00 price objective on shares of Neurocrine Biosciences in a research report on Wednesday, October 25th. Leerink Swann reissued an “outperform” rating and issued a $72.00 target price (up from $67.00) on shares of Neurocrine Biosciences in a research report on Tuesday, October 10th. BMO Capital Markets reaffirmed an “outperform” rating and set a $84.00 price objective on shares of Neurocrine Biosciences in a research report on Thursday, October 5th. Jefferies Group LLC reaffirmed a “buy” rating and set a $69.00 price objective (up from $66.00) on shares of Neurocrine Biosciences in a research report on Tuesday, October 3rd. Finally, Robert W. Baird reaffirmed an “outperform” rating and set a $66.00 price objective on shares of Neurocrine Biosciences in a research report on Thursday, September 21st.
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Shares of Neurocrine Biosciences (NASDAQ:NBIX) opened at 62.11 on Wednesday. Neurocrine Biosciences has a 52 week low of $37.35 and a 52 week high of $63.77. The firm’s 50-day moving average is $59.88 and its 200-day moving average is $52.72. The company’s market cap is $5.48 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 consensus estimate of ($0.67) by ($0.01). The firm had revenue of $6.34 million during the quarter, compared to analysts’ expectations of $0.61 million. During the same period in the previous year, the firm earned ($0.46) EPS. Equities research analysts predict that Neurocrine Biosciences will post ($2.45) earnings per share for the current year.
In other Neurocrine Biosciences news, insider Dimitri E. Grigoriadis sold 15,354 shares of the firm’s stock in a transaction on Wednesday, August 9th. The stock was 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 owns 123,045 shares of the company’s stock, valued at $6,767,475. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Haig P. Bozigian sold 22,500 shares of the firm’s stock in a transaction on 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 directly owns 154,601 shares of the company’s stock, valued at approximately $7,730,050. The disclosure for this sale can be found here. In the last ninety days, insiders sold 123,846 shares of company stock valued at $7,004,150. 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 company. FMR LLC boosted its position in shares of Neurocrine Biosciences by 9.8% during the second quarter. FMR LLC now owns 13,211,023 shares of the company’s stock worth $607,707,000 after buying an additional 1,180,874 shares during the period. Vanguard Group Inc. boosted its holdings in Neurocrine Biosciences by 2.8% in the second quarter. Vanguard Group Inc. now owns 6,922,294 shares of the company’s stock valued at $318,426,000 after purchasing an additional 186,329 shares during the period. Janus Henderson Group PLC purchased a new position in Neurocrine Biosciences in the second quarter valued at $246,888,000. BlackRock Inc. boosted its holdings in Neurocrine Biosciences by 14,216.0% in the first quarter. BlackRock Inc. now owns 5,031,933 shares of the company’s stock valued at $217,884,000 after purchasing an additional 4,996,784 shares during the period. Finally, BB Biotech AG boosted its holdings in Neurocrine Biosciences by 7.7% in the second quarter. BB Biotech AG now owns 3,446,552 shares of the company’s stock valued at $158,541,000 after purchasing an additional 245,000 shares during the period.
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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