Neurocrine Biosciences Inc. (NBIX) Stock Price Up 3.6%
Neurocrine Biosciences Inc. (NASDAQ:NBIX) shares rose 3.6% during trading on Wednesday . The company traded as high as $47.60 and last traded at $47.49, with a volume of 508,082 shares changing hands. The stock had previously closed at $45.84.
NBIX has been the subject of a number of analyst reports. Jefferies Group reaffirmed a “buy” rating and issued a $60.00 price target on shares of Neurocrine Biosciences in a report on Monday, March 28th. Piper Jaffray Cos. reaffirmed an “overweight” rating and issued a $96.00 price target on shares of Neurocrine Biosciences in a report on Monday, April 4th. BMO Capital Markets initiated coverage on shares of Neurocrine Biosciences in a report on Wednesday, April 6th. They issued an “outperform” rating for the company. JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of Neurocrine Biosciences in a report on Tuesday, April 12th. Finally, Robert W. Baird reaffirmed a “buy” rating on shares of Neurocrine Biosciences in a report on Sunday, May 8th. Ten analysts have rated the stock with a buy rating, Neurocrine Biosciences currently has an average rating of “Buy” and a consensus target price of $63.90.
The company’s market cap is $4.20 billion. The company has a 50-day moving average price of $46.89 and a 200 day moving average price of $43.67.
Neurocrine Biosciences (NASDAQ:NBIX) last posted its quarterly earnings results on Thursday, May 5th. The company reported ($0.22) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.29) by $0.07. The business had revenue of $15 million for the quarter, compared to analyst estimates of $15.43 million. During the same quarter in the previous year, the firm posted ($0.01) earnings per share. The business’s revenue was down 24.1% compared to the same quarter last year. On average, equities research analysts anticipate that Neurocrine Biosciences Inc. will post ($1.94) EPS for the current year.
In related news, Director Richard F. Pops sold 15,000 shares of the business’s stock in a transaction dated Wednesday, May 25th. The shares were sold at an average price of $46.72, for a total transaction of $700,800.00. Following the transaction, the director now directly owns 15,464 shares in the company, valued at $722,478.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Christopher Flint Obrien sold 25,000 shares of the business’s stock in a transaction dated Monday, May 16th. The stock was sold at an average price of $45.00, for a total transaction of $1,125,000.00. Following the transaction, the insider now owns 80,044 shares in the company, valued at $3,601,980. The disclosure for this sale can be found here.
Other institutional investors have bought and sold shares of the company. Birchview Capital LP raised its position in Neurocrine Biosciences by 139.2% in the fourth quarter. Birchview Capital LP now owns 23,200 shares of the company’s stock worth $1,312,000 after buying an additional 13,500 shares during the last quarter. Tocqueville Asset Management L.P. raised its position in Neurocrine Biosciences by 18.9% in the fourth quarter. Tocqueville Asset Management L.P. now owns 25,200 shares of the company’s stock worth $1,426,000 after buying an additional 4,000 shares during the last quarter. Neuberger Berman Group LLC acquired a new position in Neurocrine Biosciences during the fourth quarter worth $1,498,000. Shell Asset Management Co. acquired a new position in Neurocrine Biosciences during the fourth quarter worth $1,562,000. Finally, I.G. Investment Management LTD. acquired a new position in Neurocrine Biosciences during the fourth quarter worth $2,546,000.
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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