Neurocrine Biosciences, Inc. (NBIX) Stock Rating Reaffirmed by Leerink Swann
Neurocrine Biosciences, Inc. (NASDAQ:NBIX)‘s stock had its “outperform” rating restated by equities research analysts at Leerink Swann in a research note issued on Tuesday. They presently have a $72.00 price target on the stock, up from their prior price target of $67.00. Leerink Swann’s price target suggests a potential upside of 16.39% from the stock’s previous close. Leerink Swann also issued estimates for Neurocrine Biosciences’ Q3 2017 earnings at ($0.50) EPS, Q4 2017 earnings at ($0.40) EPS, FY2017 earnings at ($2.48) EPS and FY2018 earnings at ($2.10) EPS.
A number of other research firms also recently issued reports on NBIX. Oppenheimer Holdings, Inc. restated a “buy” rating and set a $70.00 price target on shares of Neurocrine Biosciences in a research note on Thursday, September 7th. BidaskClub upgraded Neurocrine Biosciences from a “sell” rating to a “hold” rating in a research note on Wednesday, June 21st. ValuEngine upgraded Neurocrine Biosciences from a “sell” rating to a “hold” rating in a research note on Friday, September 1st. Robert W. Baird restated an “outperform” rating and set a $66.00 price target on shares of Neurocrine Biosciences in a research note on Thursday, September 21st. Finally, Needham & Company LLC restated a “buy” rating and set a $58.00 price target on shares of Neurocrine Biosciences in a research note on Sunday, September 17th. Two research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $68.81.
Neurocrine Biosciences (NASDAQ:NBIX) last issued its earnings results on Thursday, August 3rd. The company reported ($0.68) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.67) by ($0.01). The business had revenue of $6.34 million during the quarter, compared to analyst estimates of $0.61 million. During the same period last year, the business posted ($0.46) earnings per share.
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In other news, insider Haig P. Bozigian sold 26,250 shares of the company’s stock in a transaction that occurred 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 directly owns 144,601 shares of the company’s stock, valued at approximately $8,676,060. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Christopher Flint Obrien sold 6,925 shares of the company’s stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $61.04, for a total value of $422,702.00. Following the sale, the insider now directly owns 55,898 shares in the company, valued at $3,412,013.92. The disclosure for this sale can be found here. Over the last three months, insiders sold 132,580 shares of company stock worth $7,440,850. 4.80% of the stock is owned by insiders.
Several institutional investors and hedge funds have recently modified their holdings of the company. Ardsley Advisory Partners purchased a new stake in shares of Neurocrine Biosciences during the 2nd quarter worth approximately $230,000. Davidson Kempner Capital Management LP purchased a new stake in Neurocrine Biosciences during the 2nd quarter valued at $3,639,000. Asymmetry Capital Management L.P. purchased a new stake in Neurocrine Biosciences during the 2nd quarter valued at $1,565,000. Nomura Holdings Inc. purchased a new stake in Neurocrine Biosciences during the 2nd quarter valued at $466,000. Finally, Bank of Nova Scotia purchased a new stake in Neurocrine Biosciences during the 2nd quarter valued at $1,849,000.
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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