Neurocrine Biosciences (NBIX) Price Target Raised to $97.00 at Deutsche Bank
Neurocrine Biosciences (NASDAQ:NBIX) had its price target increased by stock analysts at Deutsche Bank to $97.00 in a note issued to investors on Wednesday. The brokerage currently has a “buy” rating on the stock. Deutsche Bank’s price target points to a potential upside of 13.61% from the stock’s current price.
Other equities analysts have also recently issued research reports about the company. Oppenheimer set a $100.00 target price on Neurocrine Biosciences and gave the stock a “buy” rating in a report on Wednesday. Barclays reiterated an “overweight” rating and set a $100.00 price objective on shares of Neurocrine Biosciences in a report on Wednesday. JPMorgan Chase & Co. lifted their price objective on Neurocrine Biosciences from $79.00 to $100.00 and gave the company an “overweight” rating in a report on Wednesday. BidaskClub upgraded Neurocrine Biosciences from a “buy” rating to a “strong-buy” rating in a report on Wednesday, January 31st. Finally, Citigroup reiterated a “buy” rating and set a $79.00 price objective on shares of Neurocrine Biosciences in a report on Thursday, November 2nd. One equities research analyst has rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company. Neurocrine Biosciences currently has a consensus rating of “Buy” and a consensus price target of $89.53.
Shares of Neurocrine Biosciences (NBIX) traded up $1.69 on Wednesday, reaching $85.38. The company’s stock had a trading volume of 1,680,000 shares, compared to its average volume of 1,030,000. 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 12-month low of $39.21 and a 12-month high of $91.82. The company has a market capitalization of $7,560.00, a PE ratio of -38.46, a P/E/G ratio of 6.41 and a beta of 0.26.
In related news, insider Dimitri E. Grigoriadis sold 86,368 shares of Neurocrine Biosciences stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $78.32, for a total value of $6,764,341.76. Following the sale, the insider now owns 154,717 shares of the company’s stock, valued at approximately $12,117,435.44. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Gary A. Lyons sold 10,000 shares of Neurocrine Biosciences stock in a transaction that occurred on 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 directly owns 272,066 shares in the company, valued at approximately $19,839,052.72. The disclosure for this sale can be found here. In the last three months, insiders sold 337,950 shares of company stock worth $26,613,876. 4.80% of the stock is owned by insiders.
Institutional investors have recently made changes to their positions in the stock. Crow Point Partners LLC acquired a new stake in Neurocrine Biosciences in the 4th quarter valued at approximately $145,000. American International Group Inc. acquired a new stake in Neurocrine Biosciences in the 4th quarter valued at approximately $161,000. M&T Bank Corp acquired a new stake in Neurocrine Biosciences in the 4th quarter valued at approximately $202,000. Mission Wealth Management LP acquired a new stake in Neurocrine Biosciences in the 4th quarter valued at approximately $204,000. Finally, The Manufacturers Life Insurance Company raised its position in Neurocrine Biosciences by 7.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,665 shares of the company’s stock valued at $123,000 after buying an additional 193 shares during the last quarter.
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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