Neurocrine Biosciences, Inc. (NBIX) PT Raised to $85.00 at Barclays PLC
Neurocrine Biosciences, Inc. (NASDAQ:NBIX) had its price objective upped by Barclays PLC from $75.00 to $85.00 in a note issued to investors on Thursday. The brokerage currently has an “overweight” rating on the stock. Barclays PLC’s price target suggests a potential upside of 36.85% from the company’s current price.
NBIX has been the topic of several other research reports. Piper Jaffray Companies reaffirmed a “buy” rating and set a $76.00 price target on shares of Neurocrine Biosciences in a report on Wednesday, October 25th. Jefferies Group LLC reaffirmed a “buy” rating and set a $69.00 price target (up previously from $66.00) on shares of Neurocrine Biosciences in a report on Tuesday, October 3rd. BMO Capital Markets reaffirmed an “outperform” rating and set a $84.00 price target on shares of Neurocrine Biosciences in a report on Thursday, October 5th. Robert W. Baird reaffirmed an “outperform” rating and set a $66.00 price target on shares of Neurocrine Biosciences in a report on Thursday, September 21st. Finally, Oppenheimer Holdings, Inc. reaffirmed a “buy” rating and set a $70.00 price target on shares of Neurocrine Biosciences in a report on Thursday, September 7th. One investment analyst has rated the stock with a hold rating and eighteen have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $76.00.
Neurocrine Biosciences (NASDAQ:NBIX) last issued its quarterly earnings results on Wednesday, November 1st. The company reported ($0.13) earnings per share for the quarter, beating the consensus estimate of ($0.49) by $0.36. The firm had revenue of $60.77 million for the quarter, compared to analysts’ expectations of $29.38 million. During the same period in the prior year, the firm earned ($0.43) EPS.
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In related news, insider Christopher Flint Obrien sold 52,817 shares of the business’s stock in a transaction on Tuesday, September 5th. The shares were sold at an average price of $57.50, for a total value of $3,036,977.50. Following the sale, the insider now owns 101,790 shares in the company, valued at $5,852,925. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Dimitri E. Grigoriadis sold 15,354 shares of the business’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 in the company, valued at approximately $6,767,475. The disclosure for this sale can be found here. Insiders sold 123,846 shares of company stock worth $7,004,150 in the last 90 days. 4.80% of the stock is currently owned by company insiders.
A number of hedge funds have recently bought and sold shares of NBIX. Parametric Portfolio Associates LLC increased its position in Neurocrine Biosciences by 8.6% during the first quarter. Parametric Portfolio Associates LLC now owns 53,059 shares of the company’s stock valued at $2,297,000 after acquiring an additional 4,212 shares during the last quarter. Teachers Advisors LLC boosted its stake in shares of Neurocrine Biosciences by 5.6% during the first quarter. Teachers Advisors LLC now owns 82,647 shares of the company’s stock valued at $3,579,000 after purchasing an additional 4,360 shares during the period. Legal & General Group Plc boosted its stake in shares of Neurocrine Biosciences by 213.4% during the first quarter. Legal & General Group Plc now owns 29,305 shares of the company’s stock valued at $1,269,000 after purchasing an additional 19,955 shares during the period. Vanguard Group Inc. boosted its stake in shares of Neurocrine Biosciences by 4.6% during the first quarter. Vanguard Group Inc. now owns 6,735,965 shares of the company’s stock valued at $291,666,000 after purchasing an additional 293,755 shares during the period. Finally, Geode Capital Management LLC boosted its stake in shares of Neurocrine Biosciences by 6.7% during the first quarter. Geode Capital Management LLC now owns 677,323 shares of the company’s stock valued at $29,328,000 after purchasing an additional 42,752 shares during the period.
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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