Neurocrine Biosciences Inc. (NBIX) Earns Overweight Rating from Piper Jaffray Cos.
Neurocrine Biosciences Inc. (NASDAQ:NBIX)‘s stock had its “overweight” rating reaffirmed by investment analysts at Piper Jaffray Cos. in a note issued to investors on Thursday. They presently have a $96.00 target price on the stock. Piper Jaffray Cos.’s price objective would suggest a potential upside of 77.25% from the stock’s current price.
A number of other research firms have also recently commented on NBIX. Robert W. Baird reissued an “outperform” rating and issued a $66.00 target price on shares of Neurocrine Biosciences in a report on Tuesday, August 30th. Jefferies Group reissued a “buy” rating on shares of Neurocrine Biosciences in a report on Wednesday, June 8th. HC Wainwright reissued a “buy” rating on shares of Neurocrine Biosciences in a report on Friday, August 5th. Cowen and Company reissued a “buy” rating and issued a $65.00 target price on shares of Neurocrine Biosciences in a report on Friday, August 5th. Finally, Leerink Swann reissued an “outperform” rating and issued a $63.00 target price on shares of Neurocrine Biosciences in a report on Wednesday, June 1st. One analyst has rated the stock with a sell rating and ten have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $63.90.
Neurocrine Biosciences (NASDAQ:NBIX) traded down 0.11% on Thursday, reaching $54.10. 327,191 shares of the company traded hands. Neurocrine Biosciences has a one year low of $31.25 and a one year high of $58.46. The firm has a 50 day moving average of $50.24 and a 200-day moving average of $46.15. The stock’s market capitalization is $4.69 billion.
In other Neurocrine Biosciences news, insider Malcolm Lloyd-Smith sold 9,000 shares of the stock in a transaction that occurred on Thursday, September 1st. The shares were sold at an average price of $50.00, for a total transaction of $450,000.00. Following the completion of the sale, the insider now owns 9,000 shares of the company’s stock, valued at approximately $450,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Christopher Flint Obrien sold 12,500 shares of the stock in a transaction that occurred on Monday, August 15th. The shares were sold at an average price of $48.73, for a total transaction of $609,125.00. Following the sale, the insider now directly owns 55,044 shares of the company’s stock, valued at approximately $2,682,294.12. The disclosure for this sale can be found here. Company insiders own 4.80% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in NBIX. Norges Bank purchased a new stake in Neurocrine Biosciences during the fourth quarter worth $42,389,000. GW&K Investment Management LLC purchased a new stake in Neurocrine Biosciences during the first quarter worth $2,654,000. Moody Aldrich Partners LLC purchased a new stake in Neurocrine Biosciences during the first quarter worth $389,000. Aperio Group LLC increased its stake in Neurocrine Biosciences by 23.0% in the first quarter. Aperio Group LLC now owns 9,406 shares of the company’s stock worth $372,000 after buying an additional 1,761 shares in the last quarter. Finally, Pacad Investment Ltd. purchased a new stake in Neurocrine Biosciences during the first quarter worth $338,000. 96.70% of the stock is owned by institutional investors and hedge funds.
Neurocrine Biosciences Company Profile
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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