Neurocrine Biosciences (NBIX) Price Target Raised to $95.00
Neurocrine Biosciences (NASDAQ:NBIX) had its price objective boosted by Needham & Company LLC to $95.00 in a report released on Tuesday, The Fly reports. The firm currently has a “buy” rating on the stock. Needham & Company LLC’s target price suggests a potential upside of 25.20% from the company’s current price.
Several other equities research analysts have also issued reports on NBIX. Oppenheimer set a $95.00 target price on shares of Neurocrine Biosciences and gave the stock a “buy” rating in a research note on Monday. BidaskClub raised shares of Neurocrine Biosciences from a “hold” rating to a “buy” rating in a research note on Thursday, January 4th. Deutsche Bank reissued a “buy” rating and set a $79.00 target price on shares of Neurocrine Biosciences in a research note on Thursday, November 2nd. Citigroup reissued a “buy” rating and set a $79.00 target price on shares of Neurocrine Biosciences in a research note on Thursday, November 2nd. 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 and eighteen have assigned a buy rating to the stock. Neurocrine Biosciences presently has an average rating of “Buy” and an average target price of $82.31.
Neurocrine Biosciences (NASDAQ NBIX) traded down $0.21 during mid-day trading on Tuesday, hitting $75.88. 1,135,600 shares of the stock traded hands, compared to its average volume of 1,125,073. The company has a debt-to-equity ratio of 1.05, a quick ratio of 14.37 and a current ratio of 14.38. Neurocrine Biosciences has a twelve month low of $38.43 and a twelve month high of $83.84. The stock has a market cap of $6,930.00, a price-to-earnings ratio of -34.18 and a beta of 0.35.
In other Neurocrine Biosciences news, Director Gary A. Lyons sold 10,000 shares of the stock in a transaction dated Friday, December 1st. The shares were sold at an average price of $72.92, for a total value of $729,200.00. Following the completion of the sale, the director now owns 272,066 shares in the company, valued at approximately $19,839,052.72. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Darin Lippoldt sold 15,237 shares of the stock in a transaction dated Friday, December 28th. The shares were sold at an average price of $75.00, for a total transaction of $1,142,775.00. Following the completion of the sale, the insider now owns 28,394 shares of the company’s stock, valued at approximately $2,129,550. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 116,405 shares of company stock valued at $8,588,519. Insiders own 4.80% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the business. First Trust Advisors LP raised its holdings in Neurocrine Biosciences by 29.0% in the 3rd quarter. First Trust Advisors LP now owns 782,685 shares of the company’s stock valued at $47,963,000 after acquiring an additional 176,136 shares during the last quarter. Janus Henderson Group PLC raised its holdings in Neurocrine Biosciences by 2.6% in the 3rd quarter. Janus Henderson Group PLC now owns 5,507,763 shares of the company’s stock valued at $337,516,000 after acquiring an additional 140,639 shares during the last quarter. Davidson Kempner Capital Management LP acquired a new stake in Neurocrine Biosciences in the 2nd quarter valued at about $3,639,000. Artisan Partners Limited Partnership acquired a new stake in Neurocrine Biosciences in the 2nd quarter valued at about $15,981,000. Finally, State Street Corp raised its holdings in Neurocrine Biosciences by 5.1% in the 2nd quarter. State Street Corp now owns 2,710,196 shares of the company’s stock valued at $124,666,000 after acquiring an additional 131,141 shares during the last quarter.
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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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