Oppenheimer Holdings, Inc. Increases Neurocrine Biosciences, Inc. (NBIX) Price Target to $85.00
Neurocrine Biosciences, Inc. (NASDAQ:NBIX) had its price objective lifted by Oppenheimer Holdings, Inc. from $70.00 to $85.00 in a research note issued on Thursday. The brokerage presently has an “outperform” rating on the stock. Oppenheimer Holdings, Inc.’s target price would suggest a potential upside of 15.68% from the stock’s current price.
NBIX has been the topic of several other research reports. Cowen and Company reiterated an “outperform” rating and set a $65.00 price objective (up previously from $60.00) on shares of Neurocrine Biosciences in a research report on Wednesday, August 9th. Deutsche Bank AG reiterated a “buy” rating and set a $79.00 price objective on shares of Neurocrine Biosciences in a research report on Thursday. Leerink Swann reiterated an “outperform” rating and set a $83.00 price objective (up previously from $72.00) on shares of Neurocrine Biosciences in a research report on Thursday. BMO Capital Markets lifted their price objective on shares of Neurocrine Biosciences from $83.00 to $109.00 and gave the company an “outperform” rating in a research report on Thursday. Finally, Citigroup Inc. reiterated a “buy” rating and set a $79.00 price objective on shares of Neurocrine Biosciences in a research report on Thursday. One equities research analyst has rated the stock with a hold rating and eighteen have issued a buy rating to the company. Neurocrine Biosciences currently has an average rating of “Buy” and a consensus price target of $78.88.
Neurocrine Biosciences (NBIX) traded up $0.70 during midday trading on Thursday, reaching $73.48. 2,385,825 shares of the company’s stock were exchanged, compared to its average volume of 986,984. Neurocrine Biosciences has a 12 month low of $37.35 and a 12 month high of $63.77. The company has a current ratio of 14.38, a quick ratio of 19.36 and a debt-to-equity ratio of 1.05.
Neurocrine Biosciences (NASDAQ:NBIX) last released its earnings results on Wednesday, November 1st. The company reported ($0.13) EPS for the quarter, topping analysts’ consensus estimates 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 in the previous year, the business posted ($0.43) EPS. analysts expect that Neurocrine Biosciences will post -1.88 earnings per share for the current year.
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In other Neurocrine Biosciences news, insider Christopher Flint Obrien sold 6,925 shares of Neurocrine Biosciences stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $61.04, for a total transaction of $422,702.00. Following the completion of the transaction, the insider now directly owns 55,898 shares of the company’s stock, valued at $3,412,013.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Haig P. Bozigian sold 26,250 shares of Neurocrine Biosciences stock in a transaction on Wednesday, September 6th. The stock was sold at an average price of $60.00, for a total transaction of $1,575,000.00. Following the transaction, the insider now directly owns 144,601 shares of the company’s stock, valued at $8,676,060. The disclosure for this sale can be found here. Over the last three months, insiders sold 101,346 shares of company stock valued at $5,879,150. 4.80% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the business. The Manufacturers Life Insurance Company boosted its stake in Neurocrine Biosciences by 7.8% during the second quarter. The Manufacturers Life Insurance Company now owns 2,665 shares of the company’s stock worth $123,000 after buying an additional 193 shares during the period. World Asset Management Inc purchased a new position in Neurocrine Biosciences during the third quarter worth $246,000. ARS Investment Partners LLC purchased a new position in Neurocrine Biosciences during the second quarter worth $207,000. Stephens Inc. AR purchased a new position in Neurocrine Biosciences during the second quarter worth $207,000. Finally, Crossmark Global Holdings Inc. purchased a new position in Neurocrine Biosciences during the third quarter worth $286,000.
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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