Neurocrine Biosciences Inc. (NBIX) Receives Outperform Rating from BMO Capital Markets
BMO Capital Markets reissued their outperform rating on shares of Neurocrine Biosciences Inc. (NASDAQ:NBIX) in a report released on Thursday morning. BMO Capital Markets currently has a $66.00 target price on the stock.
A number of other analysts have also recently commented on the stock. Leerink Swann reaffirmed an outperform rating and set a $70.00 target price on shares of Neurocrine Biosciences in a report on Wednesday. Piper Jaffray Cos. set a $96.00 target price on shares of Neurocrine Biosciences and gave the company a buy rating in a report on Tuesday. Jefferies Group reaffirmed a buy rating and set a $61.00 target price on shares of Neurocrine Biosciences in a report on Friday, September 23rd. Robert W. Baird reaffirmed an outperform rating and set a $66.00 target price on shares of Neurocrine Biosciences in a report on Tuesday, August 30th. Finally, Cowen and Company reaffirmed a buy rating and set a $65.00 target price on shares of Neurocrine Biosciences in a report on Friday, August 5th. One equities research analyst has rated the stock with a sell rating and ten have issued a buy rating to the company. Neurocrine Biosciences currently has a consensus rating of Buy and a consensus target price of $65.50.
Neurocrine Biosciences (NASDAQ:NBIX) traded down 0.668% during mid-day trading on Thursday, hitting $43.865. 78,530 shares of the stock traded hands. The company’s market cap is $3.81 billion. The company’s 50 day moving average is $50.32 and its 200 day moving average is $47.58. Neurocrine Biosciences has a 12 month low of $31.25 and a 12 month high of $58.46.
In related news, Director Corinne H. Nevinny sold 5,000 shares of the firm’s stock in a transaction dated Monday, August 8th. The shares were sold at an average price of $48.54, for a total value of $242,700.00. Following the transaction, the director now owns 25,555 shares of the company’s stock, valued at approximately $1,240,439.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Malcolm Lloyd-Smith sold 9,000 shares of the firm’s stock in a transaction dated Thursday, September 1st. The stock was sold at an average price of $50.00, for a total transaction of $450,000.00. Following the completion of the transaction, the insider now directly owns 9,000 shares in the company, valued at approximately $450,000. The disclosure for this sale can be found here. 4.80% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the company. First Mercantile Trust Co. increased its position in Neurocrine Biosciences by 94.9% in the third quarter. First Mercantile Trust Co. now owns 3,897 shares of the company’s stock valued at $197,000 after buying an additional 1,897 shares in the last quarter. Stephens Inc. AR bought a new position in Neurocrine Biosciences during the second quarter valued at approximately $205,000. Fox Run Management L.L.C. bought a new position in Neurocrine Biosciences during the third quarter valued at approximately $218,000. Adams Diversified Equity Fund Inc. bought a new position in Neurocrine Biosciences during the second quarter valued at approximately $223,000. Finally, M&T Bank Corp bought a new position in Neurocrine Biosciences during the first quarter valued at approximately $262,000. 96.70% of the stock is currently owned by institutional investors.
About Neurocrine Biosciences
Neurocrine Biosciences, Inc is engaged in the development of pharmaceutical products focused on neurological and endocrine-based diseases and disorders. The Company’s two lead late-stage clinical programs are Elagolix, a gonadotropin-releasing hormone (GnRH) antagonist for women’s health that is partnered with AbbVie Inc (AbbVie), and NBI-98854 (valbenazine), a vesicular monoamine transporter 2 (VMAT2) inhibitor for the treatment of movement disorders.
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