Neurocrine Biosciences (NASDAQ:NBIX) has been assigned a $85.00 target price by research analysts at Oppenheimer in a note issued to investors on Tuesday. The brokerage currently has a “buy” rating on the stock. Oppenheimer’s price objective points to a potential upside of 20.58% from the company’s current price.
Other equities analysts have also recently issued research reports about the stock. Barclays increased their price objective on shares of Neurocrine Biosciences from $75.00 to $85.00 and gave the stock an “overweight” rating in a research note on Thursday, November 2nd. Leerink Swann reiterated an “outperform” rating and issued a $72.00 price objective (up previously from $67.00) on shares of Neurocrine Biosciences in a research note on Tuesday, October 10th. Citigroup reiterated a “buy” rating and issued a $79.00 price objective on shares of Neurocrine Biosciences in a research note on Thursday, November 2nd. BMO Capital Markets increased their price objective on shares of Neurocrine Biosciences from $83.00 to $109.00 and gave the stock an “outperform” rating in a research note on Thursday, November 2nd. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $58.00 price objective on shares of Neurocrine Biosciences in a research note on Sunday, September 17th. One research analyst has rated the stock with a hold rating and eighteen have issued a buy rating to the stock. Neurocrine Biosciences presently has an average rating of “Buy” and a consensus price target of $78.88.
Shares of Neurocrine Biosciences (NASDAQ:NBIX) opened at $70.49 on Tuesday. The company has a current ratio of 14.38, a quick ratio of 14.37 and a debt-to-equity ratio of 1.05. Neurocrine Biosciences has a 1-year low of $37.35 and a 1-year high of $75.98.
In other Neurocrine Biosciences news, insider Dimitri E. Grigoriadis sold 30,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 8th. The shares were sold at an average price of $74.58, for a total transaction of $2,237,400.00. Following the sale, the insider now owns 77,691 shares in the company, valued at approximately $5,794,194.78. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Darin Lippoldt sold 2,955 shares of the firm’s stock in a transaction that occurred on Friday, December 8th. The stock was sold at an average price of $75.00, for a total transaction of $221,625.00. Following the sale, the insider now owns 16,112 shares in the company, valued at approximately $1,208,400. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 90,877 shares of company stock worth $6,568,617. 4.80% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NBIX. The Manufacturers Life Insurance Company raised its stake in Neurocrine Biosciences by 7.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,665 shares of the company’s stock worth $123,000 after acquiring an additional 193 shares during the period. ARS Investment Partners LLC bought a new stake in Neurocrine Biosciences during the 2nd quarter worth approximately $207,000. Stephens Inc. AR bought a new stake in shares of Neurocrine Biosciences during the second quarter valued at approximately $207,000. Comerica Bank bought a new stake in shares of Neurocrine Biosciences during the third quarter valued at approximately $210,000. Finally, Ardsley Advisory Partners bought a new stake in shares of Neurocrine Biosciences during the second quarter valued at approximately $230,000.
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.