Oppenheimer Analysts Give Neurocrine Biosciences (NBIX) a $85.00 Price Target

Oppenheimer set a $85.00 price objective on Neurocrine Biosciences (NASDAQ:NBIX) in a report released on Tuesday, November 14th. The firm currently has a buy rating on the stock.

Several other research firms also recently weighed in on NBIX. Robert W. Baird reissued an outperform rating and issued a $66.00 price target on shares of Neurocrine Biosciences in a research note on Thursday, September 21st. Jefferies Group reiterated a buy rating and set a $69.00 price target (up previously from $66.00) on shares of Neurocrine Biosciences in a research report on Tuesday, October 3rd. Leerink Swann reiterated an outperform rating and set a $83.00 price target (up previously from $72.00) on shares of Neurocrine Biosciences in a research report on Thursday, November 2nd. Cowen reiterated 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. Finally, Barclays increased their price target on shares of Neurocrine Biosciences from $75.00 to $85.00 and gave the company an overweight rating in a report on Thursday, November 2nd. One equities research analyst has rated the stock with a hold rating and eighteen have issued a buy rating to the company. The company presently has a consensus rating of Buy and an average price target of $78.88.

Shares of Neurocrine Biosciences (NASDAQ NBIX) traded up $1.71 on Tuesday, hitting $73.60. The stock had a trading volume of 916,513 shares, compared to its average volume of 890,980. Neurocrine Biosciences has a 12 month low of $37.35 and a 12 month high of $75.98. 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 (NASDAQ:NBIX) last announced 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 business had revenue of $60.77 million during the quarter, compared to the consensus estimate of $29.38 million. During the same period in the previous year, the business posted ($0.43) EPS. sell-side analysts forecast that Neurocrine Biosciences will post -1.74 earnings per share for the current fiscal year.

In other Neurocrine Biosciences news, insider Kyle Gano sold 24,818 shares of the stock in a transaction dated Thursday, November 2nd. The shares were sold at an average price of $71.05, for a total transaction of $1,763,318.90. Following the completion of the transaction, the insider now owns 84,596 shares of the company’s stock, valued at $6,010,545.80. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Christopher Flint Obrien sold 6,925 shares of the stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $61.04, for a total transaction of $422,702.00. Following the transaction, the insider now directly owns 55,898 shares of the company’s stock, valued at approximately $3,412,013.92. The disclosure for this sale can be found here. Insiders have sold a total of 150,710 shares of company stock valued at $9,758,593 in the last quarter. 4.80% of the stock is currently owned by company insiders.

Large investors have recently modified their holdings of the stock. Teacher Retirement System of Texas grew its position in Neurocrine Biosciences by 0.8% in the 2nd quarter. Teacher Retirement System of Texas now owns 6,966 shares of the company’s stock valued at $320,000 after buying an additional 57 shares during the last quarter. The Manufacturers Life Insurance Company lifted its position 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 in the last quarter. Utah Retirement Systems raised its position in shares of Neurocrine Biosciences by 1.9% in the 2nd quarter. Utah Retirement Systems now owns 16,000 shares of the company’s stock valued at $736,000 after purchasing an additional 300 shares in the last quarter. Nuveen Asset Management LLC raised its position in shares of Neurocrine Biosciences by 5.6% in the 1st quarter. Nuveen Asset Management LLC now owns 14,464 shares of the company’s stock valued at $626,000 after purchasing an additional 763 shares in the last quarter. Finally, Aperio Group LLC raised its position in shares of Neurocrine Biosciences by 3.7% during the 2nd quarter. Aperio Group LLC now owns 22,324 shares of the company’s stock valued at $1,027,000 after acquiring an additional 789 shares in the last quarter.

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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.

Analyst Recommendations for Neurocrine Biosciences (NASDAQ:NBIX)

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