Oppenheimer set a $100.00 target price on Neurocrine Biosciences (NASDAQ:NBIX) in a research note published on Wednesday morning. The brokerage currently has a buy rating on the stock. Oppenheimer also issued estimates for Neurocrine Biosciences’ FY2019 earnings at $1.47 EPS, FY2021 earnings at $7.71 EPS and FY2022 earnings at $8.57 EPS.
Several other equities analysts have also recently issued reports on NBIX. Deutsche Bank restated a buy rating and issued a $79.00 price target on shares of Neurocrine Biosciences in a research report on Thursday, November 2nd. BidaskClub raised shares of Neurocrine Biosciences from a buy rating to a strong-buy rating in a research note on Wednesday, January 31st. Citigroup reaffirmed a buy rating and issued a $79.00 price objective on shares of Neurocrine Biosciences in a research note on Thursday, November 2nd. Needham & Company LLC upped their price objective on shares of Neurocrine Biosciences to $95.00 and gave the company a buy rating in a research note on Tuesday, January 16th. Finally, Robert W. Baird reissued a buy rating and set a $84.00 target price on shares of Neurocrine Biosciences in a research note on Friday, November 3rd. One analyst has rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of Buy and an average target price of $89.53.
Shares of Neurocrine Biosciences (NASDAQ:NBIX) traded up $1.69 during trading hours on Wednesday, hitting $85.38. 1,678,700 shares of the stock traded hands, compared to its average volume of 1,017,887. The company has a quick ratio of 14.37, a current ratio of 14.38 and a debt-to-equity ratio of 1.05. Neurocrine Biosciences has a one year low of $39.21 and a one year high of $91.82.
In other Neurocrine Biosciences news, insider Darin Lippoldt sold 6,279 shares of the firm’s stock in a transaction on Monday, December 4th. The shares were sold at an average price of $75.04, for a total value of $471,176.16. Following the transaction, the insider now directly owns 19,436 shares of the company’s stock, valued at $1,458,477.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Kevin Charles Gorman sold 105,983 shares of the stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $80.25, for a total transaction of $8,505,135.75. Following the completion of the sale, the chief executive officer now owns 339,482 shares of the company’s stock, valued at approximately $27,243,430.50. The disclosure for this sale can be found here. Insiders sold 337,950 shares of company stock worth $26,613,876 over the last ninety days. Insiders own 4.80% of the company’s stock.
Hedge funds have recently made changes to their positions in the company. The Manufacturers Life Insurance Company raised its holdings in shares of Neurocrine Biosciences by 7.8% in the second quarter. The Manufacturers Life Insurance Company now owns 2,665 shares of the company’s stock valued at $123,000 after purchasing an additional 193 shares during the last quarter. Crow Point Partners LLC purchased a new stake in shares of Neurocrine Biosciences in the fourth quarter valued at about $145,000. American International Group Inc. purchased a new stake in shares of Neurocrine Biosciences in the fourth quarter valued at about $161,000. M&T Bank Corp purchased a new stake in shares of Neurocrine Biosciences in the fourth quarter valued at about $202,000. Finally, Mission Wealth Management LP purchased a new stake in shares of Neurocrine Biosciences in the fourth quarter valued at about $204,000.
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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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