Neurocrine Biosciences, Inc. (NBIX) Stock Rating Reaffirmed by Leerink Swann
Neurocrine Biosciences, Inc. (NASDAQ:NBIX)‘s stock had its “outperform” rating reissued by equities researchers at Leerink Swann in a note issued to investors on Thursday, The Fly reports. They currently have a $83.00 target price on the stock, up from their prior target price of $72.00. Leerink Swann’s target price suggests a potential upside of 33.63% from the stock’s previous close.
Other analysts have also recently issued research reports about the stock. Citigroup Inc. reiterated a “buy” rating and issued a $79.00 price objective on shares of Neurocrine Biosciences in a research note on Thursday. Cowen and Company restated an “outperform” rating and set a $65.00 target price (up from $60.00) on shares of Neurocrine Biosciences in a report on Wednesday, August 9th. BidaskClub upgraded shares of Neurocrine Biosciences from a “hold” rating to a “buy” rating in a report on Wednesday, August 9th. Oppenheimer Holdings, Inc. restated an “outperform” rating and set a $70.00 target price on shares of Neurocrine Biosciences in a report on Wednesday, July 5th. Finally, Needham & Company LLC restated a “buy” rating and set a $58.00 target price on shares of Neurocrine Biosciences in a report on Sunday, September 17th. One research analyst has rated the stock with a hold rating and eighteen have given a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $73.06.
Neurocrine Biosciences (NASDAQ:NBIX) last announced its quarterly earnings data on Wednesday, November 1st. The company reported ($0.13) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.49) by $0.36. The company had revenue of $60.77 million during the quarter, compared to analyst estimates of $29.38 million. During the same quarter last year, the business earned ($0.43) EPS.
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In other news, insider Haig P. Bozigian sold 26,250 shares of Neurocrine Biosciences stock in a transaction dated 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 completion of the sale, the insider now directly owns 144,601 shares in the company, valued at $8,676,060. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Christopher Flint Obrien sold 52,817 shares of Neurocrine Biosciences stock in a transaction dated Tuesday, September 5th. The stock was sold at an average price of $57.50, for a total transaction of $3,036,977.50. Following the sale, the insider now owns 101,790 shares of the company’s stock, valued at $5,852,925. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 123,846 shares of company stock valued at $7,004,150. Insiders own 4.80% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of NBIX. Parametric Portfolio Associates LLC grew its holdings 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 buying an additional 4,212 shares in the last quarter. Teachers Advisors LLC grew its holdings 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 worth $3,579,000 after buying an additional 4,360 shares in the last quarter. Legal & General Group Plc grew its holdings 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 worth $1,269,000 after buying an additional 19,955 shares in the last quarter. Vanguard Group Inc. grew its holdings 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 worth $291,666,000 after buying an additional 293,755 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings 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 worth $29,328,000 after buying an additional 42,752 shares in the last quarter.
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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