Neurocrine Biosciences, Inc. (NBIX) Price Target Raised to $109.00 at BMO Capital Markets
Neurocrine Biosciences, Inc. (NASDAQ:NBIX) had its target price hoisted by BMO Capital Markets from $83.00 to $109.00 in a research report sent to investors on Thursday morning. The firm currently has an outperform rating on the stock.
A number of other equities analysts have also recently issued reports on NBIX. Cowen and Company reiterated an outperform rating and set a $65.00 target price (up previously from $60.00) on shares of Neurocrine Biosciences in a report on Wednesday, August 9th. Citigroup Inc. reiterated a buy rating and set a $79.00 target price on shares of Neurocrine Biosciences in a report on Thursday. BidaskClub upgraded Neurocrine Biosciences from a hold rating to a buy rating in a report on Wednesday, August 9th. Leerink Swann reiterated an outperform rating and set a $83.00 target price (up previously from $72.00) on shares of Neurocrine Biosciences in a report on Thursday. Finally, Piper Jaffray Companies reiterated a buy rating and set a $76.00 target price on shares of Neurocrine Biosciences in a report on Wednesday, October 25th. One equities research analyst has rated the stock with a hold rating and eighteen have issued a buy rating to the stock. The company currently has a consensus rating of Buy and an average target price of $78.88.
Neurocrine Biosciences (NASDAQ NBIX) traded up $0.70 during mid-day trading on Thursday, reaching $73.48. The company’s stock had a trading volume of 2,385,825 shares, compared to its average volume of 986,984. The company has a debt-to-equity ratio of 1.05, a current ratio of 14.38 and a quick ratio of 19.36. Neurocrine Biosciences has a 52-week low of $37.35 and a 52-week high of $63.77.
Neurocrine Biosciences (NASDAQ:NBIX) last released its earnings results on Wednesday, November 1st. The company reported ($0.13) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.49) by $0.36. The firm had revenue of $60.77 million for the quarter, compared to the consensus estimate of $29.38 million. During the same quarter last year, the company posted ($0.43) EPS. sell-side analysts forecast that Neurocrine Biosciences will post -2.42 earnings per share for the current year.
In related news, insider Dimitri E. Grigoriadis sold 15,354 shares of the firm’s stock in a transaction dated Wednesday, August 9th. The shares were sold at an average price of $55.00, for a total value of $844,470.00. Following the completion of the sale, the insider now directly owns 123,045 shares in the company, valued at approximately $6,767,475. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Christopher Flint Obrien sold 52,817 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at $5,852,925. The disclosure for this sale can be found here. Insiders sold a total of 101,346 shares of company stock valued at $5,879,150 over the last quarter. 4.80% of the stock is currently owned by company insiders.
Hedge funds have recently modified their holdings of the business. First Trust Advisors LP lifted its position in Neurocrine Biosciences by 29.0% during the third quarter. First Trust Advisors LP now owns 782,685 shares of the company’s stock worth $47,963,000 after acquiring an additional 176,136 shares during the last quarter. Canada Pension Plan Investment Board lifted its position in Neurocrine Biosciences by 49.7% during the second quarter. Canada Pension Plan Investment Board now owns 24,700 shares of the company’s stock worth $1,136,000 after acquiring an additional 8,200 shares during the last quarter. BlackRock Inc. lifted its position in Neurocrine Biosciences by 14,216.0% during the first 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 during the last quarter. Point72 Asset Management L.P. acquired a new stake in Neurocrine Biosciences during the first quarter worth approximately $4,330,000. Finally, Schwab Charles Investment Management Inc. lifted its position in Neurocrine Biosciences by 8.5% during the first quarter. Schwab Charles Investment Management Inc. now owns 346,906 shares of the company’s stock worth $15,022,000 after acquiring an additional 27,245 shares during the last quarter.
About Neurocrine Biosciences
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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