Neurocrine Biosciences (NASDAQ:NBIX) had its price objective boosted by equities researchers at Jefferies Group to $105.00 in a note issued to investors on Friday, The Fly reports. The brokerage presently has a “buy” rating on the stock. Jefferies Group’s price objective would suggest a potential upside of 28.47% from the stock’s current price.
Several other research analysts have also issued reports on the company. Oppenheimer restated a “buy” rating and issued a $70.00 price target on shares of Neurocrine Biosciences in a research report on Thursday, September 7th. BMO Capital Markets lifted their target price on Neurocrine Biosciences from $83.00 to $109.00 and gave the stock an “outperform” rating in a report on Thursday, November 2nd. Needham & Company LLC reissued a “buy” rating and issued a $86.00 price target on shares of Neurocrine Biosciences in a research note on Thursday, November 2nd. Leerink Swann reissued an “outperform” rating and issued a $83.00 price target (up previously from $72.00) on shares of Neurocrine Biosciences in a research note on Thursday, November 2nd. Finally, Barclays lifted their price target on Neurocrine Biosciences from $75.00 to $85.00 and gave the company an “overweight” rating in a research note on Thursday, November 2nd. One equities research analyst has rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $81.13.
Neurocrine Biosciences (NBIX) traded up $1.45 during mid-day trading on Friday, reaching $81.73. The company had a trading volume of 895,376 shares, compared to its average volume of 1,149,450. The firm has a market cap of $7,230.00, a PE ratio of -36.82 and a beta of 0.35. The company has a debt-to-equity ratio of 1.05, a current ratio of 14.38 and a quick ratio of 14.37. Neurocrine Biosciences has a 12-month low of $38.43 and a 12-month high of $83.57.
In other Neurocrine Biosciences news, insider Darin Lippoldt sold 9,900 shares of the business’s stock in a transaction that occurred on Wednesday, November 15th. The shares were sold at an average price of $73.05, for a total transaction of $723,195.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Dimitri E. Grigoriadis sold 30,000 shares of the business’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 transaction, the insider now owns 77,691 shares of the company’s stock, valued at $5,794,194.78. The disclosure for this sale can be found here. Over the last quarter, insiders sold 116,405 shares of company stock valued at $8,588,519. 4.80% of the stock is currently owned by corporate insiders.
Institutional investors and hedge funds have recently made changes to their positions in the business. Schwab Charles Investment Management Inc. increased its holdings in Neurocrine Biosciences by 4.1% in the second quarter. Schwab Charles Investment Management Inc. now owns 361,247 shares of the company’s stock valued at $16,618,000 after purchasing an additional 14,341 shares during the period. Legal & General Group Plc boosted its position in Neurocrine Biosciences by 8.7% during the second quarter. Legal & General Group Plc now owns 31,859 shares of the company’s stock valued at $1,465,000 after acquiring an additional 2,554 shares during the last quarter. American Century Companies Inc. boosted its position in Neurocrine Biosciences by 2.7% during the second quarter. American Century Companies Inc. now owns 33,705 shares of the company’s stock valued at $1,550,000 after acquiring an additional 886 shares during the last quarter. Utah Retirement Systems boosted its position in Neurocrine Biosciences by 1.9% during the second quarter. Utah Retirement Systems now owns 16,000 shares of the company’s stock valued at $736,000 after acquiring an additional 300 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its position in Neurocrine Biosciences by 2.3% during the second quarter. Principal Financial Group Inc. now owns 77,679 shares of the company’s stock valued at $3,574,000 after acquiring an additional 1,728 shares during 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.
