Neurocrine Biosciences, Inc. (NASDAQ:NBIX) had its target price upped by equities research analysts at Barclays PLC from $75.00 to $85.00 in a research note issued on Thursday, November 2nd. The brokerage presently has an “overweight” rating on the stock. Barclays PLC’s price target points to a potential upside of 17.99% from the stock’s current price.
A number of other analysts have also weighed in on NBIX. Oppenheimer Holdings, Inc. reiterated an “outperform” rating and issued a $70.00 target price on shares of Neurocrine Biosciences in a research note on Wednesday, July 5th. BMO Capital Markets increased their price target on Neurocrine Biosciences from $75.00 to $84.00 and gave the stock an “outperform” rating in a research report on Friday, August 4th. Cowen and Company reissued an “outperform” rating and set a $65.00 price target (up previously from $60.00) on shares of Neurocrine Biosciences in a research report on Wednesday, August 9th. BidaskClub raised Neurocrine Biosciences from a “hold” rating to a “buy” rating in a research report on Wednesday, August 9th. Finally, Piper Jaffray Companies set a $68.00 price objective on Neurocrine Biosciences and gave the company a “buy” rating in a research report on Thursday, August 24th. One investment analyst has rated the stock with a hold rating and eighteen have given a buy rating to the stock. Neurocrine Biosciences presently has an average rating of “Buy” and an average target price of $78.88.
Neurocrine Biosciences (NASDAQ NBIX) traded down $2.13 during mid-day trading on Thursday, reaching $72.04. The company’s stock had a trading volume of 906,626 shares, compared to its average volume of 1,127,112. Neurocrine Biosciences has a 1-year low of $37.35 and a 1-year high of $75.98. The company has a quick ratio of 14.37, a current ratio of 14.38 and a debt-to-equity ratio of 1.05.
Neurocrine Biosciences (NASDAQ:NBIX) last released its quarterly earnings results on Wednesday, November 1st. The company reported ($0.13) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.49) by $0.36. The company had revenue of $60.77 million for the quarter, compared to analysts’ expectations of $29.38 million. During the same quarter in the previous year, the company posted ($0.43) EPS. sell-side analysts expect that Neurocrine Biosciences will post -1.74 EPS for the current fiscal year.
In other Neurocrine Biosciences news, insider Kyle Gano sold 24,818 shares of the business’s stock in a transaction on Thursday, November 2nd. The stock was sold at an average price of $71.05, for a total transaction of $1,763,318.90. Following the transaction, the insider now owns 84,596 shares of the company’s stock, valued at $6,010,545.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Christopher Flint Obrien sold 52,817 shares of the business’s 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 transaction, the insider now directly owns 101,790 shares in the company, valued at approximately $5,852,925. The disclosure for this sale can be found here. Insiders sold 140,810 shares of company stock worth $9,035,398 over the last ninety days. Corporate insiders own 4.80% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. California Public Employees Retirement System raised its position in Neurocrine Biosciences by 1.5% in the third quarter. California Public Employees Retirement System now owns 181,900 shares of the company’s stock valued at $11,147,000 after purchasing an additional 2,600 shares during the period. Davidson Kempner Capital Management LP raised its position in Neurocrine Biosciences by 50.8% in the third quarter. Davidson Kempner Capital Management LP now owns 119,300 shares of the company’s stock valued at $7,311,000 after purchasing an additional 40,200 shares during the period. Crestline Management LP raised its position in Neurocrine Biosciences by 41.1% in the third quarter. Crestline Management LP now owns 63,029 shares of the company’s stock valued at $3,862,000 after purchasing an additional 18,371 shares during the period. Perceptive Advisors LLC raised its position in Neurocrine Biosciences by 33.9% in the third quarter. Perceptive Advisors LLC now owns 4,791,589 shares of the company’s stock valued at $293,629,000 after purchasing an additional 1,214,000 shares during the period. Finally, Janus Henderson Group PLC raised its position in Neurocrine Biosciences by 2.6% in the third quarter. Janus Henderson Group PLC now owns 5,507,763 shares of the company’s stock valued at $337,516,000 after purchasing an additional 140,639 shares during the period.
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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