Piper Jaffray Companies Analysts Give Neurocrine Biosciences (NBIX) a $111.00 Price Target
Piper Jaffray Companies set a $111.00 price objective on Neurocrine Biosciences (NASDAQ:NBIX) in a research report report published on Tuesday. The brokerage currently has a buy rating on the stock. Piper Jaffray Companies also issued estimates for Neurocrine Biosciences’ Q4 2018 earnings at $0.11 EPS, FY2018 earnings at $0.14 EPS, Q1 2019 earnings at $0.24 EPS, Q2 2019 earnings at $0.44 EPS, Q3 2019 earnings at $0.52 EPS, Q4 2019 earnings at $0.64 EPS, FY2019 earnings at $1.85 EPS, FY2020 earnings at $4.47 EPS, FY2021 earnings at $5.73 EPS and FY2022 earnings at $8.15 EPS.
A number of other brokerages have also recently issued reports on NBIX. Cantor Fitzgerald initiated coverage on shares of Neurocrine Biosciences in a research note on Wednesday, August 22nd. They issued an overweight rating and a $150.00 price objective for the company. HC Wainwright reissued a buy rating and issued a $162.00 price objective on shares of Neurocrine Biosciences in a research note on Wednesday, August 1st. Oppenheimer set a $128.00 price objective on shares of Neurocrine Biosciences and gave the stock a buy rating in a research note on Tuesday, July 31st. BidaskClub raised shares of Neurocrine Biosciences from a hold rating to a buy rating in a research note on Friday, July 27th. Finally, ICAP reduced their price objective on shares of Neurocrine Biosciences from $140.00 to $128.00 and set an outperform rating for the company in a research note on Tuesday, September 4th. One investment analyst has rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of Buy and an average target price of $124.88.
NBIX stock traded down $2.90 during midday trading on Tuesday, reaching $105.41. 744,889 shares of the company’s stock traded hands, compared to its average volume of 776,003. Neurocrine Biosciences has a 52-week low of $67.32 and a 52-week high of $126.98. The stock has a market cap of $9.84 billion, a P/E ratio of 2,170.00, a P/E/G ratio of 34.87 and a beta of 0.94.
In related news, Director Richard F. Pops sold 5,500 shares of the company’s stock in a transaction on Monday, October 29th. The shares were sold at an average price of $107.13, for a total transaction of $589,215.00. Following the completion of the transaction, the director now owns 37,759 shares in the company, valued at $4,045,121.67. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Gary A. Lyons sold 15,000 shares of the company’s stock in a transaction on Friday, November 2nd. The stock was sold at an average price of $114.41, for a total transaction of $1,716,150.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 29,500 shares of company stock valued at $3,295,455. 4.30% of the stock is owned by company insiders.
Several large investors have recently modified their holdings of the stock. Trexquant Investment LP bought a new position in shares of Neurocrine Biosciences during the third quarter worth $2,088,000. Opera Trading Capital bought a new position in shares of Neurocrine Biosciences during the third quarter worth $449,000. Fosun International Ltd bought a new position in shares of Neurocrine Biosciences during the third quarter worth $5,193,000. Jennison Associates LLC lifted its position in Neurocrine Biosciences by 0.9% during the third quarter. Jennison Associates LLC now owns 403,968 shares of the company’s stock valued at $49,668,000 after purchasing an additional 3,556 shares during the last quarter. Finally, Piedmont Investment Advisors Inc. bought a new position in Neurocrine Biosciences during the third quarter valued at $793,000.
About Neurocrine Biosciences
Neurocrine Biosciences, Inc discovers and develops pharmaceuticals for the treatment of neurological and endocrine-related diseases and disorders in the United States. The company's lead products include INGREZZA (valbenazine), a vesicular monoamine transporter 2 inhibitor (VMAT2), which is used for the treatment of movement disorders; elagolix, a gonadotropin-releasing hormone (GnRH) antagonist that is in Phase III clinical trial for use in women's health; and opicapone, a catechol-O-methyltransferase inhibitor, which is in Phase III clinical trial that is used for in adjunct therapy and preparations of levodopa/DOPA decarboxylase inhibitors for adult patients with Parkinson's disease.
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