Neurocrine Biosciences, Inc. (NBIX) Given a $60.00 Price Target by Oppenheimer Holdings, Inc. Analysts
Neurocrine Biosciences, Inc. (NASDAQ:NBIX) received a $60.00 price target from Oppenheimer Holdings, Inc. in a note issued to investors on Tuesday. The brokerage presently has a “buy” rating on the stock. Oppenheimer Holdings, Inc.’s target price indicates a potential upside of 39.05% from the stock’s current price.
NBIX has been the subject of a number of other research reports. Piper Jaffray Companies restated an “overweight” rating and issued a $96.00 target price on shares of Neurocrine Biosciences in a research report on Wednesday, December 7th. Cowen and Company set a $65.00 target price on Neurocrine Biosciences and gave the stock a “buy” rating in a research report on Wednesday, January 18th. BMO Capital Markets reiterated an “outperform” rating and issued a $72.00 price objective (up previously from $66.00) on shares of Neurocrine Biosciences in a research report on Thursday, October 27th. Robert W. Baird reiterated a “buy” rating and issued a $66.00 price objective on shares of Neurocrine Biosciences in a research report on Sunday, January 8th. Finally, ICAP reiterated an “outperform” rating and issued a $55.00 price objective on shares of Neurocrine Biosciences in a research report on Friday, February 10th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and fourteen have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $67.23.
Shares of Neurocrine Biosciences (NASDAQ:NBIX) traded up 1.65% during mid-day trading on Tuesday, hitting $43.15. Neurocrine Biosciences has a 52 week low of $32.18 and a 52 week high of $55.15. The firm’s market cap is $3.75 billion. The company has a 50-day moving average price of $41.73 and a 200 day moving average price of $46.17.
Neurocrine Biosciences (NASDAQ:NBIX) last released its earnings results on Tuesday, February 14th. The company reported ($0.51) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.56) by $0.05. During the same period in the prior year, the company posted ($0.34) earnings per share. Equities analysts forecast that Neurocrine Biosciences will post ($2.13) earnings per share for the current fiscal year.
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In related news, insider Haig P. Bozigian sold 1,625 shares of the company’s stock in a transaction that occurred on Tuesday, January 17th. The stock was sold at an average price of $40.63, for a total transaction of $66,023.75. Following the completion of the transaction, the insider now owns 114,704 shares in the company, valued at $4,660,423.52. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Kevin Charles Gorman sold 3,010 shares of the company’s stock in a transaction that occurred on Monday, February 6th. The shares were sold at an average price of $43.18, for a total value of $129,971.80. Following the transaction, the chief executive officer now owns 250,542 shares of the company’s stock, valued at approximately $10,818,403.56. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 32,816 shares of company stock valued at $1,387,036. 4.80% of the stock is owned by corporate insiders.
Institutional investors have recently made changes to their positions in the stock. Perceptive Advisors LLC acquired a new position in shares of Neurocrine Biosciences during the fourth quarter worth approximately $128,349,000. Bank of New York Mellon Corp increased its position in shares of Neurocrine Biosciences by 238.4% in the third quarter. Bank of New York Mellon Corp now owns 1,406,038 shares of the company’s stock worth $71,202,000 after buying an additional 990,488 shares in the last quarter. Baker BROS. Advisors LP acquired a new position in shares of Neurocrine Biosciences during the third quarter worth approximately $45,344,000. Franklin Resources Inc. increased its position in shares of Neurocrine Biosciences by 19.8% in the fourth quarter. Franklin Resources Inc. now owns 2,409,715 shares of the company’s stock worth $93,256,000 after buying an additional 397,429 shares in the last quarter. Finally, Great Point Partners LLC acquired a new position in shares of Neurocrine Biosciences during the third quarter worth approximately $19,956,000. Institutional investors own 97.60% of the company’s stock.
About Neurocrine Biosciences
Neurocrine Biosciences, Inc is engaged in the development of pharmaceutical products focused on neurological and endocrine-based diseases and disorders. The Company’s two lead late-stage clinical programs are Elagolix, a gonadotropin-releasing hormone (GnRH) antagonist for women’s health that is partnered with AbbVie Inc (AbbVie), and NBI-98854 (valbenazine), a vesicular monoamine transporter 2 (VMAT2) inhibitor for the treatment of movement disorders.
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