Barclays PLC Raises Neurocrine Biosciences, Inc. (NBIX) Price Target to $85.00
Neurocrine Biosciences, Inc. (NASDAQ:NBIX) had its target price raised by Barclays PLC from $75.00 to $85.00 in a report published on Thursday. The firm currently has an overweight rating on the stock.
Several other equities research analysts have also commented on the stock. Oppenheimer Holdings, Inc. restated a buy rating and issued a $70.00 price target on shares of Neurocrine Biosciences in a research note on Thursday, September 7th. Jefferies Group LLC restated a buy rating and set a $69.00 target price (up from $66.00) on shares of Neurocrine Biosciences in a report on Tuesday, October 3rd. ValuEngine raised shares of Neurocrine Biosciences from a sell rating to a hold rating in a research note on Friday, September 1st. BMO Capital Markets reaffirmed an outperform rating and issued a $84.00 price objective on shares of Neurocrine Biosciences in a research note on Thursday, October 5th. Finally, Robert W. Baird reissued an outperform rating and set a $66.00 target price on shares of Neurocrine Biosciences in a research note on Thursday, September 21st. One investment 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.
Neurocrine Biosciences (NASDAQ:NBIX) traded up $1.03 during trading hours on Thursday, reaching $74.51. 1,081,484 shares of the company’s stock were exchanged, compared to its average volume of 1,079,281. 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 has a one year low of $37.35 and a one year high of $63.77.
Neurocrine Biosciences (NASDAQ:NBIX) last issued its quarterly earnings results on Wednesday, November 1st. The company reported ($0.13) EPS for the quarter, topping the consensus estimate of ($0.49) by $0.36. The company had revenue of $60.77 million for 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 expect that Neurocrine Biosciences will post -1.88 earnings per share for the current fiscal year.
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In other Neurocrine Biosciences news, insider Dimitri E. Grigoriadis sold 15,354 shares of the stock in a transaction dated Wednesday, August 9th. The shares were sold at an average price of $55.00, for a total transaction of $844,470.00. Following the sale, the insider now directly owns 123,045 shares in the company, valued at $6,767,475. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Christopher Flint Obrien sold 52,817 shares of the firm’s stock in a transaction that occurred on Tuesday, September 5th. The shares were sold at an average price of $57.50, for a total transaction of $3,036,977.50. Following the completion of the sale, the insider now owns 101,790 shares in the company, valued at $5,852,925. The disclosure for this sale can be found here. Insiders sold 101,346 shares of company stock worth $5,879,150 over the last three months. Insiders own 4.80% of the company’s stock.
Large investors have recently bought and sold shares of the stock. First Trust Advisors LP boosted its position in Neurocrine Biosciences by 29.0% during the 3rd quarter. First Trust Advisors LP now owns 782,685 shares of the company’s stock worth $47,963,000 after buying an additional 176,136 shares during the period. Canada Pension Plan Investment Board increased its stake in shares of Neurocrine Biosciences by 49.7% in the 2nd quarter. Canada Pension Plan Investment Board now owns 24,700 shares of the company’s stock valued at $1,136,000 after acquiring an additional 8,200 shares in the last quarter. BlackRock Inc. increased its stake 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 valued at $217,884,000 after acquiring an additional 4,996,784 shares in the last quarter. Point72 Asset Management L.P. bought a new stake in shares of Neurocrine Biosciences in the 1st quarter valued at $4,330,000. Finally, Schwab Charles Investment Management Inc. increased its stake in Neurocrine Biosciences by 8.5% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 346,906 shares of the company’s stock valued at $15,022,000 after purchasing an additional 27,245 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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