Neurocrine Biosciences’ (NBIX) “Buy” Rating Reiterated at Robert W. Baird
Neurocrine Biosciences, Inc. (NASDAQ:NBIX)‘s stock had its “buy” rating reissued by equities research analysts at Robert W. Baird in a research note issued on Friday. They currently have a $84.00 target price on the stock. Robert W. Baird’s price objective would indicate a potential upside of 14.32% from the stock’s previous close.
Several other brokerages also recently commented on NBIX. BMO Capital Markets reiterated an “outperform” rating and set a $84.00 target price on shares of Neurocrine Biosciences in a research note on Thursday, October 5th. Leerink Swann reiterated an “outperform” rating and set a $72.00 target price (up from $67.00) on shares of Neurocrine Biosciences in a research note on Tuesday, October 10th. Barclays PLC lifted their target price on Neurocrine Biosciences from $75.00 to $85.00 and gave the stock an “overweight” rating in a research note on Thursday. Citigroup Inc reiterated a “buy” rating and set a $79.00 target price on shares of Neurocrine Biosciences in a research note on Thursday. Finally, Oppenheimer Holdings, Inc. lifted their target price on Neurocrine Biosciences from $70.00 to $85.00 and gave the stock an “outperform” rating in a research note on Thursday. One investment analyst has rated the stock with a hold rating and eighteen have given a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $78.88.
Neurocrine Biosciences (NBIX) traded up $12.55 during midday trading on Friday, hitting $73.48. 2,385,825 shares of the stock were exchanged, compared to its average volume of 986,984. The company has a debt-to-equity ratio of 1.05, a quick ratio of 19.36 and a current ratio of 14.38. Neurocrine Biosciences has a 1 year low of $37.35 and a 1 year high of $63.77.
Neurocrine Biosciences (NASDAQ:NBIX) last issued its earnings results on Wednesday, November 1st. The company reported ($0.13) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.49) by $0.36. The business 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 posted ($0.43) earnings per share. equities analysts predict that Neurocrine Biosciences will post -2.42 earnings per share for the current year.
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In other Neurocrine Biosciences news, insider Christopher Flint Obrien sold 52,817 shares of Neurocrine Biosciences stock in a transaction 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 of the company’s stock, valued at approximately $5,852,925. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 value of $1,575,000.00. Following the completion of the transaction, the insider now directly owns 144,601 shares of the company’s stock, valued at $8,676,060. The disclosure for this sale can be found here. Insiders sold a total of 101,346 shares of company stock valued at $5,879,150 over the last ninety days. Insiders own 4.80% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the business. The Manufacturers Life Insurance Company raised its holdings in Neurocrine Biosciences by 7.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,665 shares of the company’s stock valued at $123,000 after acquiring an additional 193 shares in the last quarter. ARS Investment Partners LLC acquired a new position in Neurocrine Biosciences in the 2nd quarter valued at $207,000. Stephens Inc. AR acquired a new position in Neurocrine Biosciences in the 2nd quarter valued at $207,000. Ardsley Advisory Partners acquired a new position in Neurocrine Biosciences in the 2nd quarter valued at $230,000. Finally, Cubist Systematic Strategies LLC raised its holdings in Neurocrine Biosciences by 151.5% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 5,301 shares of the company’s stock valued at $244,000 after acquiring an additional 3,193 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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