Neurocrine Biosciences, Inc. (NASDAQ:NBIX) had its target price hoisted by equities research analysts at BMO Capital Markets from $83.00 to $109.00 in a research note issued to investors on Thursday, November 2nd. The brokerage presently has an “outperform” rating on the stock. BMO Capital Markets’ price objective points to a potential upside of 50.00% from the company’s current price.
Several other equities research analysts also recently commented on the company. Oppenheimer Holdings, Inc. restated a “buy” rating and set a $70.00 price objective on shares of Neurocrine Biosciences in a report on Thursday, September 7th. Jefferies Group LLC restated a “buy” rating and set a $69.00 price objective (up previously from $66.00) on shares of Neurocrine Biosciences in a report on Tuesday, October 3rd. ValuEngine raised Neurocrine Biosciences from a “sell” rating to a “hold” rating in a research report on Friday, September 1st. Robert W. Baird reaffirmed an “outperform” rating and set a $66.00 target price on shares of Neurocrine Biosciences in a research report on Thursday, September 21st. Finally, Leerink Swann reaffirmed an “outperform” rating and set a $72.00 target price (up previously from $67.00) on shares of Neurocrine Biosciences in a research report on Tuesday, October 10th. One analyst has rated the stock with a hold rating and eighteen have assigned 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 (NBIX) traded down $1.50 during mid-day trading on Thursday, hitting $72.67. The stock had a trading volume of 499,830 shares, compared to its average volume of 1,127,112. Neurocrine Biosciences has a 12-month low of $37.35 and a 12-month high of $75.98. 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 (NASDAQ:NBIX) last issued its earnings results on Wednesday, November 1st. The company reported ($0.13) earnings per share for the quarter, topping the Zacks’ 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 quarter in the previous year, the firm posted ($0.43) earnings per share. equities analysts predict that Neurocrine Biosciences will post -1.74 EPS for the current year.
In related news, insider Kyle Gano sold 24,818 shares of the stock in a transaction dated 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 completion of the sale, the insider now directly owns 84,596 shares in the company, valued at approximately $6,010,545.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Haig P. Bozigian sold 26,250 shares of the stock in a transaction dated Wednesday, September 6th. The shares were sold at an average price of $60.00, for a total value of $1,575,000.00. Following the sale, the insider now owns 144,601 shares of the company’s stock, valued at $8,676,060. The disclosure for this sale can be found here. Insiders sold a total of 140,810 shares of company stock valued at $9,035,398 over the last quarter. Company 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. FMR LLC raised its position in shares of Neurocrine Biosciences by 9.8% in the 2nd quarter. FMR LLC now owns 13,211,023 shares of the company’s stock worth $607,707,000 after acquiring an additional 1,180,874 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Neurocrine Biosciences by 2.8% in the 2nd quarter. Vanguard Group Inc. now owns 6,922,294 shares of the company’s stock worth $318,426,000 after acquiring an additional 186,329 shares in the last quarter. Janus Henderson Group PLC raised its position in shares of Neurocrine Biosciences by 2.6% in the 3rd quarter. Janus Henderson Group PLC now owns 5,507,763 shares of the company’s stock worth $337,516,000 after acquiring an additional 140,639 shares in the last quarter. BlackRock Inc. raised its position in shares of Neurocrine Biosciences by 14,216.0% in the 1st quarter. BlackRock Inc. now owns 5,031,933 shares of the company’s stock worth $217,884,000 after acquiring an additional 4,996,784 shares in the last quarter. Finally, Perceptive Advisors LLC raised its position in shares of Neurocrine Biosciences by 33.9% in the 3rd quarter. Perceptive Advisors LLC now owns 4,791,589 shares of the company’s stock worth $293,629,000 after acquiring an additional 1,214,000 shares in 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.
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