Oppenheimer Holdings, Inc. Raises Neurocrine Biosciences, Inc. (NBIX) Price Target to $85.00
Neurocrine Biosciences, Inc. (NASDAQ:NBIX) had its price target boosted by investment analysts at Oppenheimer Holdings, Inc. from $70.00 to $85.00 in a report released on Thursday. The brokerage currently has an “outperform” rating on the stock. Oppenheimer Holdings, Inc.’s price target indicates a potential upside of 36.85% from the company’s current price.
Several other equities analysts have also issued reports on NBIX. Cowen and Company restated an “outperform” rating and set a $65.00 price target (up from $60.00) on shares of Neurocrine Biosciences in a research note on Wednesday, August 9th. Deutsche Bank AG restated a “buy” rating and set a $79.00 price target on shares of Neurocrine Biosciences in a research note on Thursday. Citigroup Inc. restated a “buy” rating and set a $79.00 price target on shares of Neurocrine Biosciences in a research note on Thursday. Leerink Swann restated an “outperform” rating and set a $83.00 price target (up from $72.00) on shares of Neurocrine Biosciences in a research note on Thursday. Finally, BMO Capital Markets boosted their price target on Neurocrine Biosciences from $83.00 to $109.00 and gave the company an “outperform” rating in a research note on Thursday. One analyst has rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average 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 (EPS) 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 the consensus estimate of $29.38 million. During the same quarter in the prior year, the firm earned ($0.43) earnings per share.
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In other news, insider Dimitri E. Grigoriadis sold 15,354 shares of the business’s stock in a transaction that occurred on Wednesday, August 9th. The stock was sold at an average price of $55.00, for a total value of $844,470.00. Following the transaction, the insider now directly owns 123,045 shares of the company’s stock, valued at approximately $6,767,475. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Christopher Flint Obrien sold 52,817 shares of the business’s stock in a transaction that occurred on Tuesday, September 5th. The stock was sold at an average price of $57.50, for a total value of $3,036,977.50. Following the completion of the transaction, the insider now directly owns 101,790 shares in the company, valued at $5,852,925. The disclosure for this sale can be found here. Insiders have sold 123,846 shares of company stock worth $7,004,150 over the last ninety days. Company insiders own 4.80% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the company. First Trust Advisors LP boosted its holdings in shares of Neurocrine Biosciences by 29.0% in the 3rd quarter. First Trust Advisors LP now owns 782,685 shares of the company’s stock worth $47,963,000 after acquiring an additional 176,136 shares in the last quarter. Canada Pension Plan Investment Board boosted its holdings in shares of Neurocrine Biosciences by 49.7% in the 2nd quarter. Canada Pension Plan Investment Board now owns 24,700 shares of the company’s stock worth $1,136,000 after acquiring an additional 8,200 shares in the last quarter. BlackRock Inc. boosted its holdings in shares of Neurocrine Biosciences by 14,216.0% in the 1st quarter. BlackRock Inc. now owns 5,031,933 shares of the company’s stock worth $217,884,000 after acquiring an additional 4,996,784 shares in the last quarter. Point72 Asset Management L.P. acquired a new position in Neurocrine Biosciences during the 1st quarter worth $4,330,000. Finally, Schwab Charles Investment Management Inc. lifted its holdings in Neurocrine Biosciences by 8.5% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 346,906 shares of the company’s stock worth $15,022,000 after buying an additional 27,245 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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