Neurocrine Biosciences’ (NBIX) Buy Rating Reaffirmed at Needham & Company LLC
Needham & Company LLC reaffirmed their buy rating on shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) in a report released on Friday morning. The firm currently has a $62.00 price objective on the stock.
Several other equities research analysts have also recently weighed in on the company. Cantor Fitzgerald restated an overweight rating and set a $80.00 target price on shares of Neurocrine Biosciences in a research note on Tuesday, March 7th. Piper Jaffray Companies restated an outperform rating and set a $80.00 target price on shares of Neurocrine Biosciences in a research note on Tuesday, March 7th. HC Wainwright boosted their target price on Neurocrine Biosciences from $80.00 to $100.00 and gave the stock a positive rating in a research note on Thursday, February 16th. Cowen and Company restated a buy rating on shares of Neurocrine Biosciences in a research note on Wednesday, February 15th. Finally, Robert W. Baird restated an outperform rating and set a $66.00 target price on shares of Neurocrine Biosciences in a research note on Wednesday, February 15th. One analyst has rated the stock with a sell rating, one has given a hold rating and fifteen have given a buy rating to the stock. The stock presently has a consensus rating of Buy and a consensus price target of $67.00.
Neurocrine Biosciences (NASDAQ:NBIX) traded down 1.42% during midday trading on Friday, reaching $43.87. The company’s stock had a trading volume of 306,046 shares. Neurocrine Biosciences has a 12-month low of $32.91 and a 12-month high of $55.15. The stock’s market cap is $3.82 billion. The stock’s 50 day moving average is $43.78 and its 200 day moving average is $45.46.
Neurocrine Biosciences (NASDAQ:NBIX) last announced its quarterly earnings data on Tuesday, February 14th. The company reported ($0.51) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.56) by $0.05. During the same period in the previous year, the firm posted ($0.34) earnings per share. Analysts anticipate that Neurocrine Biosciences will post ($2.28) earnings per share for the current year.
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In other Neurocrine Biosciences news, insider Haig P. Bozigian sold 1,625 shares of Neurocrine Biosciences stock in a transaction that occurred on Tuesday, January 17th. The stock was sold at an average price of $40.63, for a total transaction of $66,023.75. Following the transaction, the insider now owns 114,704 shares of the company’s stock, valued at $4,660,423.52. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Dimitri E. Grigoriadis sold 727 shares of Neurocrine Biosciences stock in a transaction that occurred on Monday, February 6th. The stock was sold at an average price of $43.13, for a total value of $31,355.51. Following the transaction, the insider now directly owns 115,756 shares in the company, valued at approximately $4,992,556.28. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 32,816 shares of company stock worth $1,387,036. 4.80% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Norges Bank purchased a new position in Neurocrine Biosciences during the fourth quarter valued at approximately $34,777,000. Putnam Investments LLC raised its position in Neurocrine Biosciences by 8.8% in the fourth quarter. Putnam Investments LLC now owns 27,348 shares of the company’s stock valued at $1,058,000 after buying an additional 2,222 shares during the period. Perceptive Advisors LLC purchased a new position in Neurocrine Biosciences during the fourth quarter valued at approximately $128,349,000. Orbimed Advisors LLC raised its position in Neurocrine Biosciences by 17.3% in the fourth quarter. Orbimed Advisors LLC now owns 2,128,774 shares of the company’s stock valued at $82,384,000 after buying an additional 313,300 shares during the period. Finally, Alyeska Investment Group L.P. raised its position in Neurocrine Biosciences by 46.3% in the fourth quarter. Alyeska Investment Group L.P. now owns 645,536 shares of the company’s stock valued at $24,982,000 after buying an additional 204,301 shares during the period. 97.60% of the stock is currently owned by institutional investors.
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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