Neurocrine Biosciences (NASDAQ:NBIX) had its target price lifted by analysts at JPMorgan Chase & Co. from $79.00 to $100.00 in a research report issued to clients and investors on Wednesday. The brokerage currently has an “overweight” rating on the stock. JPMorgan Chase & Co.’s target price would suggest a potential upside of 19.49% from the company’s current price.
NBIX has been the subject of a number of other research reports. Robert W. Baird reaffirmed a “buy” rating and issued a $84.00 price target on shares of Neurocrine Biosciences in a research note on Friday, November 3rd. Needham & Company LLC increased their price objective on Neurocrine Biosciences to $95.00 and gave the stock a “buy” rating in a report on Tuesday, January 16th. Piper Jaffray Companies reiterated a “buy” rating and issued a $76.00 price objective on shares of Neurocrine Biosciences in a report on Wednesday, October 25th. Oppenheimer set a $95.00 price objective on Neurocrine Biosciences and gave the stock a “buy” rating in a report on Monday, January 15th. Finally, Deutsche Bank reiterated a “buy” rating and issued a $79.00 price objective on shares of Neurocrine Biosciences in a report on Thursday, November 2nd. One investment analyst has rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. Neurocrine Biosciences presently has an average rating of “Buy” and a consensus target price of $88.33.
Shares of Neurocrine Biosciences (NBIX) traded up $1.52 during mid-day trading on Wednesday, reaching $83.69. The company had a trading volume of 780,300 shares, compared to its average volume of 1,024,196. Neurocrine Biosciences has a 12 month low of $39.21 and a 12 month high of $91.82. The stock has a market capitalization of $7,271.47, a price-to-earnings ratio of -39.37, a price-to-earnings-growth ratio of 6.41 and a beta of 0.26. The company has a debt-to-equity ratio of 1.05, a current ratio of 14.38 and a quick ratio of 14.37.
In other Neurocrine Biosciences news, Director Gary A. Lyons sold 10,000 shares of the firm’s stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $72.92, for a total value of $729,200.00. Following the transaction, the director now directly owns 272,066 shares of the company’s stock, valued at $19,839,052.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Kevin Charles Gorman sold 105,983 shares of the firm’s stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $80.25, for a total value of $8,505,135.75. Following the completion of the transaction, the chief executive officer now directly owns 339,482 shares in the company, valued at $27,243,430.50. The disclosure for this sale can be found here. Insiders sold a total of 337,950 shares of company stock valued at $26,613,876 over the last quarter. 4.80% of the stock is owned by corporate insiders.
A number of large investors have recently made changes to their positions in NBIX. The Manufacturers Life Insurance Company boosted its position in Neurocrine Biosciences by 7.8% in the second quarter. The Manufacturers Life Insurance Company now owns 2,665 shares of the company’s stock worth $123,000 after purchasing an additional 193 shares during the last quarter. Crow Point Partners LLC purchased a new position in Neurocrine Biosciences in the fourth quarter worth about $145,000. American International Group Inc. purchased a new position in Neurocrine Biosciences in the fourth quarter worth about $161,000. M&T Bank Corp purchased a new position in Neurocrine Biosciences in the fourth quarter worth about $202,000. Finally, Mission Wealth Management LP purchased a new position in Neurocrine Biosciences in the fourth quarter worth about $204,000.
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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