Neurocrine Biosciences (NBIX) Upgraded by BidaskClub to Hold
BidaskClub upgraded shares of Neurocrine Biosciences (NASDAQ:NBIX) from a sell rating to a hold rating in a report released on Monday.
NBIX has been the topic of several other research reports. Oppenheimer set a $105.00 target price on Neurocrine Biosciences and gave the company a buy rating in a research report on Sunday. Cantor Fitzgerald set a $150.00 target price on Neurocrine Biosciences and gave the company a buy rating in a research report on Monday, November 5th. ValuEngine downgraded Neurocrine Biosciences from a strong-buy rating to a buy rating in a research report on Thursday, November 15th. Robert W. Baird decreased their target price on Neurocrine Biosciences from $131.00 to $96.00 and set an outperform rating on the stock in a research report on Thursday, December 13th. Finally, Needham & Company LLC set a $104.00 target price on Neurocrine Biosciences and gave the company a buy rating in a research report on Wednesday, December 12th. Three research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. The company has a consensus rating of Buy and a consensus price target of $104.62.
NBIX traded down $1.94 during trading on Monday, hitting $83.54. The company’s stock had a trading volume of 15,170 shares, compared to its average volume of 1,525,724. Neurocrine Biosciences has a twelve month low of $64.72 and a twelve month high of $126.98. The firm has a market cap of $6.77 billion, a P/E ratio of -51.51, a PEG ratio of 2.15 and a beta of 1.18.
In related news, Director Gary A. Lyons sold 15,000 shares of Neurocrine Biosciences stock in a transaction that occurred on Friday, November 2nd. The stock was sold at an average price of $114.41, for a total transaction of $1,716,150.00. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Matt Abernethy sold 1,178 shares of Neurocrine Biosciences stock in a transaction that occurred on Monday, December 3rd. The stock was sold at an average price of $90.00, for a total value of $106,020.00. Following the transaction, the chief financial officer now owns 1,947 shares in the company, valued at approximately $175,230. The disclosure for this sale can be found here. In the last quarter, insiders have sold 38,925 shares of company stock worth $4,204,191. 4.30% of the stock is currently owned by company insiders.
A number of institutional investors have recently made changes to their positions in NBIX. Federated Investors Inc. PA raised its position in Neurocrine Biosciences by 90.0% in the third quarter. Federated Investors Inc. PA now owns 152,488 shares of the company’s stock valued at $18,748,000 after purchasing an additional 72,224 shares during the period. Rehmann Capital Advisory Group raised its position in Neurocrine Biosciences by 54.7% in the third quarter. Rehmann Capital Advisory Group now owns 557 shares of the company’s stock valued at $68,000 after purchasing an additional 197 shares during the period. Marshall Wace LLP purchased a new stake in Neurocrine Biosciences in the third quarter valued at $9,895,000. Great Lakes Advisors LLC purchased a new stake in Neurocrine Biosciences in the third quarter valued at $9,269,000. Finally, Vanguard Group Inc raised its position in Neurocrine Biosciences by 2.7% in the third quarter. Vanguard Group Inc now owns 7,772,236 shares of the company’s stock valued at $955,597,000 after purchasing an additional 204,065 shares during the period. Hedge funds and other institutional investors own 96.62% of the company’s stock.
About Neurocrine Biosciences
Neurocrine Biosciences, Inc discovers and develops pharmaceuticals for the treatment of neurological and endocrine-related diseases and disorders in the United States. The company's lead products include INGREZZA (valbenazine), a vesicular monoamine transporter 2 inhibitor (VMAT2), which is used for the treatment of movement disorders; elagolix, a gonadotropin-releasing hormone (GnRH) antagonist that is in Phase III clinical trial for use in women's health; and opicapone, a catechol-O-methyltransferase inhibitor, which is in Phase III clinical trial that is used for in adjunct therapy and preparations of levodopa/DOPA decarboxylase inhibitors for adult patients with Parkinson's disease.
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