Neurocrine Biosciences, Inc. (NBIX) Given a $60.00 Price Target at Oppenheimer Holdings, Inc.
Oppenheimer Holdings, Inc. set a $60.00 price objective on Neurocrine Biosciences, Inc. (NASDAQ:NBIX) in a research report released on Tuesday morning. The firm currently has a buy rating on the stock.
NBIX has been the topic of several other reports. Piper Jaffray Companies reiterated an overweight rating and set a $96.00 price target on shares of Neurocrine Biosciences in a research note on Wednesday, December 7th. Needham & Company LLC reiterated a buy rating and set a $62.00 price target on shares of Neurocrine Biosciences in a research note on Monday, January 9th. Citigroup Inc. initiated coverage on shares of Neurocrine Biosciences in a research note on Tuesday, November 22nd. They set a market perform rating and a $55.00 price target on the stock. They noted that the move was a valuation call. BMO Capital Markets reiterated an outperform rating and set a $72.00 price target (up from $66.00) on shares of Neurocrine Biosciences in a research note on Thursday, October 27th. Finally, Leerink Swann reiterated an outperform rating and set a $70.00 price target on shares of Neurocrine Biosciences in a research note on Friday, December 23rd. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and fourteen have issued a buy rating to the company. Neurocrine Biosciences has a consensus rating of Buy and an average target price of $67.23.
Shares of Neurocrine Biosciences (NASDAQ:NBIX) traded up 1.65% on Tuesday, hitting $43.15. 926,588 shares of the company’s stock were exchanged. The stock’s market cap is $3.75 billion. Neurocrine Biosciences has a 12-month low of $32.18 and a 12-month high of $55.15. The company’s 50-day moving average price is $41.73 and its 200 day moving average price is $46.17.
Neurocrine Biosciences (NASDAQ:NBIX) last announced its quarterly earnings results on Tuesday, February 14th. The company reported ($0.51) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.56) by $0.05. During the same quarter last year, the business earned ($0.34) EPS. On average, equities analysts predict that Neurocrine Biosciences will post ($2.13) earnings per share for the current fiscal year.
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In other news, insider Christopher Flint Obrien sold 1,750 shares of Neurocrine Biosciences stock in a transaction dated Tuesday, January 10th. The shares were sold at an average price of $43.35, for a total value of $75,862.50. Following the sale, the insider now owns 31,794 shares of the company’s stock, valued at $1,378,269.90. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Kevin Charles Gorman sold 3,750 shares of Neurocrine Biosciences stock in a transaction dated Tuesday, January 10th. The shares were sold at an average price of $43.28, for a total transaction of $162,300.00. Following the completion of the sale, the chief executive officer now directly owns 240,927 shares in the company, valued at approximately $10,427,320.56. The disclosure for this sale can be found here. Insiders have sold a total of 32,816 shares of company stock worth $1,387,036 over the last three months. 4.80% of the stock is currently owned by insiders.
Hedge funds have recently modified their holdings of the stock. First Mercantile Trust Co. increased its stake in shares of 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 during the last quarter. Opus Point Partners Management LLC purchased a new stake in shares of Neurocrine Biosciences during the third quarter valued at $206,000. Two Sigma Securities LLC purchased a new stake in shares of Neurocrine Biosciences during the third quarter valued at $212,000. Fox Run Management L.L.C. purchased a new stake in shares of Neurocrine Biosciences during the third quarter valued at $218,000. Finally, SECOR Capital Advisors LP purchased a new stake in shares of Neurocrine Biosciences during the third quarter valued at $260,000. 97.60% of the stock is currently owned by institutional investors and hedge funds.
Neurocrine Biosciences Company Profile
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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