Neurocrine Biosciences, Inc. (NBIX) Rating Reiterated by Jefferies Group LLC
Neurocrine Biosciences, Inc. (NASDAQ:NBIX)‘s stock had its “buy” rating reiterated by investment analysts at Jefferies Group LLC in a research report issued on Tuesday. They presently have a $69.00 price target on the stock, up from their prior price target of $66.00. Jefferies Group LLC’s price target points to a potential upside of 10.29% from the company’s previous close. Jefferies Group also issued estimates for Neurocrine Biosciences’ FY2018 earnings at ($1.31) EPS, FY2019 earnings at $0.23 EPS, FY2020 earnings at $2.62 EPS and FY2021 earnings at $3.81 EPS.
Several other equities analysts have also weighed in on NBIX. BidaskClub upgraded Neurocrine Biosciences from a “sell” rating to a “hold” rating in a research note on Wednesday, June 21st. Oppenheimer Holdings, Inc. restated an “outperform” rating and issued a $70.00 price target on shares of Neurocrine Biosciences in a research note on Wednesday, July 5th. BMO Capital Markets lifted their price target on Neurocrine Biosciences from $75.00 to $84.00 and gave the company an “outperform” rating in a research note on Friday, August 4th. Cowen and Company restated an “outperform” rating and issued a $65.00 price target (up previously from $60.00) on shares of Neurocrine Biosciences in a research note on Wednesday, August 9th. Finally, Piper Jaffray Companies set a $68.00 price objective on Neurocrine Biosciences and gave the stock a “buy” rating in a report on Thursday, August 24th. Two equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $68.44.
Neurocrine Biosciences (NASDAQ:NBIX) traded down 1.13% during trading on Tuesday, hitting $61.85. The stock had a trading volume of 281,718 shares. The company’s market cap is $5.46 billion. The firm’s 50-day moving average price is $56.66 and its 200-day moving average price is $50.28. Neurocrine Biosciences has a 52-week low of $37.35 and a 52-week high of $63.77.
Neurocrine Biosciences (NASDAQ:NBIX) last announced its quarterly earnings results on Thursday, August 3rd. The company reported ($0.68) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.67) by ($0.01). The company had revenue of $6.34 million during the quarter, compared to analysts’ expectations of $0.61 million. During the same period in the previous year, the company posted ($0.46) EPS. Analysts predict that Neurocrine Biosciences will post ($2.44) EPS for the current fiscal year.
In other news, insider Haig P. Bozigian sold 26,250 shares of the company’s 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 sale, the insider now owns 144,601 shares of the company’s stock, valued at $8,676,060. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Christopher Flint Obrien sold 8,734 shares of the company’s stock in a transaction on Thursday, July 27th. The stock was sold at an average price of $50.00, for a total value of $436,700.00. Following the sale, the insider now directly owns 57,707 shares in the company, valued at approximately $2,885,350. The disclosure for this sale can be found here. In the last three months, insiders sold 132,580 shares of company stock worth $7,440,850. 4.80% of the stock is owned by corporate insiders.
Several institutional investors have recently bought and sold shares of NBIX. The Manufacturers Life Insurance Company increased its position in shares of 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 acquiring an additional 193 shares during the period. ARS Investment Partners LLC purchased a new stake in shares of Neurocrine Biosciences during the second quarter worth $207,000. Stephens Inc. AR purchased a new stake in shares of Neurocrine Biosciences during the second quarter worth $207,000. Ardsley Advisory Partners purchased a new stake in shares of Neurocrine Biosciences during the second quarter worth $230,000. Finally, Cubist Systematic Strategies LLC increased its position in shares of Neurocrine Biosciences by 151.5% during the second quarter. Cubist Systematic Strategies LLC now owns 5,301 shares of the company’s stock worth $244,000 after acquiring an additional 3,193 shares during the period.
Neurocrine Biosciences Company Profile
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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