Oppenheimer Holdings, Inc. reiterated their buy rating on shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) in a report issued on Thursday. Oppenheimer Holdings, Inc. currently has a $70.00 price target on the stock.
A number of other equities analysts have also commented on NBIX. Bank of America Corporation reiterated a buy rating and issued a $70.00 price objective on shares of Neurocrine Biosciences in a report on Monday, May 15th. Jefferies Group LLC restated a buy rating and issued a $67.00 target price on shares of Neurocrine Biosciences in a research note on Monday, May 22nd. Needham & Company LLC restated a buy rating and issued a $58.00 target price (down previously from $62.00) on shares of Neurocrine Biosciences in a research note on Wednesday, May 24th. Leerink Swann cut their target price on shares of Neurocrine Biosciences from $68.00 to $66.00 and set an outperform rating on the stock in a research note on Thursday, May 25th. Finally, BMO Capital Markets restated an outperform rating and issued a $75.00 target price on shares of Neurocrine Biosciences in a research note on Thursday, May 25th. Two equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. The stock presently has an average rating of Buy and an average target price of $68.25.
Shares of Neurocrine Biosciences (NBIX) opened at 57.74 on Thursday. The firm’s market capitalization is $5.09 billion. Neurocrine Biosciences has a 1-year low of $37.35 and a 1-year high of $60.00. The firm has a 50-day moving average price of $52.69 and a 200-day moving average price of $48.43.
Neurocrine Biosciences (NASDAQ:NBIX) last issued its quarterly earnings data on Thursday, August 3rd. The company reported ($0.68) EPS for the quarter, missing analysts’ consensus estimates of ($0.67) by $0.01. The business had revenue of $6.34 million for the quarter, compared to analysts’ expectations of $0.61 million. During the same quarter in the prior year, the company earned ($0.46) EPS. On average, analysts forecast that Neurocrine Biosciences will post ($2.45) EPS for the current fiscal year.
In related news, insider Christopher Flint Obrien sold 52,817 shares of the stock in a transaction dated Tuesday, September 5th. The shares were sold at an average price of $57.50, for a total transaction of $3,036,977.50. Following the sale, the insider now owns 101,790 shares in the company, valued at $5,852,925. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Dimitri E. Grigoriadis sold 15,354 shares of the stock in a transaction dated Wednesday, August 9th. The stock was sold at an average price of $55.00, for a total transaction of $844,470.00. Following the sale, the insider now owns 123,045 shares in the company, valued at approximately $6,767,475. The disclosure for this sale can be found here. In the last quarter, insiders have sold 125,655 shares of company stock worth $7,018,148. 4.80% of the stock is owned by company insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. FMR LLC grew its position in Neurocrine Biosciences by 9.8% in the 2nd quarter. FMR LLC now owns 13,211,023 shares of the company’s stock worth $607,707,000 after purchasing an additional 1,180,874 shares during the last quarter. Vanguard Group Inc. grew its position in Neurocrine Biosciences by 2.8% in the 2nd quarter. Vanguard Group Inc. now owns 6,922,294 shares of the company’s stock worth $318,426,000 after purchasing an additional 186,329 shares during the last quarter. Janus Henderson Group PLC bought a new position in Neurocrine Biosciences in the 2nd quarter worth about $246,888,000. BlackRock Inc. grew its position in Neurocrine Biosciences by 14,216.0% in the 1st quarter. BlackRock Inc. now owns 5,031,933 shares of the company’s stock worth $217,884,000 after purchasing an additional 4,996,784 shares during the last quarter. Finally, Janus Capital Management LLC grew its position in Neurocrine Biosciences by 85.0% in the 1st quarter. Janus Capital Management LLC now owns 4,359,384 shares of the company’s stock worth $188,759,000 after purchasing an additional 2,002,899 shares during the last quarter.
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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