Neurocrine Biosciences’ (NBIX) Buy Rating Reiterated at Oppenheimer
Neurocrine Biosciences (NASDAQ:NBIX)‘s stock had its “buy” rating reiterated by investment analysts at Oppenheimer in a note issued to investors on Wednesday.
Other analysts have also issued reports about the stock. BidaskClub lowered shares of Neurocrine Biosciences from a “strong-buy” rating to a “buy” rating in a research note on Tuesday. Needham & Company LLC boosted their target price on shares of Neurocrine Biosciences to $95.00 and gave the company a “buy” rating in a research note on Tuesday, January 16th. Jefferies Group boosted their target price on shares of Neurocrine Biosciences to $105.00 and gave the company a “buy” rating in a research note on Friday, January 5th. Deutsche Bank boosted their target price on shares of Neurocrine Biosciences to $97.00 and gave the company a “buy” rating in a research note on Wednesday, February 14th. Finally, Leerink Swann boosted their target price on shares of Neurocrine Biosciences from $90.00 to $96.00 and gave the company an “outperform” rating in a research note on Tuesday, February 20th. One investment analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $95.23.
Shares of NBIX stock opened at $84.83 on Wednesday. The stock has a market cap of $7,578.43, a price-to-earnings ratio of -51.73 and a beta of 0.31. Neurocrine Biosciences has a one year low of $39.21 and a one year high of $92.98. The company has a debt-to-equity ratio of 0.99, a quick ratio of 10.20 and a current ratio of 10.20.
In related news, insider Haig P. Bozigian sold 1,625 shares of Neurocrine Biosciences stock in a transaction dated Tuesday, January 16th. The stock was sold at an average price of $79.12, for a total value of $128,570.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Kevin Charles Gorman sold 105,983 shares of Neurocrine Biosciences stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $80.25, for a total value of $8,505,135.75. Following the completion of the sale, the chief executive officer now owns 339,482 shares of the company’s stock, valued at $27,243,430.50. The disclosure for this sale can be found here. Insiders sold 399,589 shares of company stock valued at $32,443,795 over the last 90 days. 4.80% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently made changes to their positions in NBIX. Perceptive Advisors LLC raised its holdings in Neurocrine Biosciences by 33.9% in the third quarter. Perceptive Advisors LLC now owns 4,791,589 shares of the company’s stock worth $293,629,000 after purchasing an additional 1,214,000 shares in the last quarter. American Century Companies Inc. raised its holdings in Neurocrine Biosciences by 1,257.3% in the fourth quarter. American Century Companies Inc. now owns 490,648 shares of the company’s stock worth $38,069,000 after purchasing an additional 454,500 shares in the last quarter. Millennium Management LLC raised its holdings in Neurocrine Biosciences by 357.3% in the fourth quarter. Millennium Management LLC now owns 534,566 shares of the company’s stock worth $41,477,000 after purchasing an additional 417,661 shares in the last quarter. Renaissance Technologies LLC bought a new position in Neurocrine Biosciences in the fourth quarter worth about $30,046,000. Finally, Allianz Asset Management GmbH raised its holdings in Neurocrine Biosciences by 773.4% in the fourth quarter. Allianz Asset Management GmbH now owns 350,325 shares of the company’s stock worth $27,182,000 after purchasing an additional 310,214 shares in the last quarter.
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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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