Neurocrine Biosciences (NASDAQ:NBIX) has been assigned a $111.00 target price by equities researchers at Piper Jaffray Companies in a research note issued on Tuesday. The firm currently has a “buy” rating on the stock. Piper Jaffray Companies’ price target indicates a potential upside of 0.41% from the company’s current price.
Several other research analysts have also commented on NBIX. JPMorgan Chase & Co. raised their price objective on shares of Neurocrine Biosciences to $127.00 and gave the company an “overweight” rating in a research note on Monday, July 16th. Robert W. Baird reissued an “outperform” rating and issued a $122.00 price objective (up previously from $100.00) on shares of Neurocrine Biosciences in a research note on Wednesday, July 25th. BidaskClub raised shares of Neurocrine Biosciences from a “hold” rating to a “buy” rating in a research note on Friday, July 27th. Jefferies Financial Group raised their price objective on shares of Neurocrine Biosciences to $124.00 and gave the company a “buy” rating in a research note on Monday, July 30th. Finally, Barclays raised their price objective on shares of Neurocrine Biosciences from $100.00 to $135.00 and gave the company an “overweight” rating in a research note on Wednesday, August 1st. One analyst has rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company. Neurocrine Biosciences presently has a consensus rating of “Buy” and a consensus price target of $125.50.
Shares of NBIX stock opened at $110.55 on Tuesday. The company has a quick ratio of 9.19, a current ratio of 9.19 and a debt-to-equity ratio of 1.00. The stock has a market cap of $10.48 billion, a price-to-earnings ratio of -68.24, a P/E/G ratio of 37.22 and a beta of 0.94. Neurocrine Biosciences has a 1-year low of $67.32 and a 1-year high of $126.98.
Neurocrine Biosciences (NASDAQ:NBIX) last posted its quarterly earnings data on Monday, November 5th. The company reported $0.52 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.48 by $0.04. Neurocrine Biosciences had a negative net margin of 16.07% and a negative return on equity of 14.22%. The business had revenue of $151.80 million during the quarter, compared to analyst estimates of $151.51 million. During the same quarter last year, the firm posted ($0.13) earnings per share. The business’s revenue for the quarter was up 149.7% compared to the same quarter last year. Equities research analysts anticipate that Neurocrine Biosciences will post 0.15 earnings per share for the current fiscal year.
In related news, Director Richard F. Pops sold 5,500 shares of the firm’s stock in a transaction that occurred on Monday, October 29th. The shares were sold at an average price of $107.13, for a total value of $589,215.00. Following the sale, the director now owns 37,759 shares of the company’s stock, valued at $4,045,121.67. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Gary A. Lyons sold 15,000 shares of the firm’s stock in a transaction that occurred on Friday, November 2nd. The shares were 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. 4.30% of the stock is owned by company insiders.
A number of large investors have recently modified their holdings of NBIX. Victory Capital Management Inc. raised its holdings in Neurocrine Biosciences by 60.5% in the third quarter. Victory Capital Management Inc. now owns 605,135 shares of the company’s stock valued at $74,402,000 after acquiring an additional 228,163 shares in the last quarter. Braun Stacey Associates Inc. acquired a new stake in Neurocrine Biosciences in the second quarter valued at approximately $14,333,000. Mainstay Capital Management LLC ADV raised its holdings in Neurocrine Biosciences by 3,156.2% in the second quarter. Mainstay Capital Management LLC ADV now owns 134,970 shares of the company’s stock valued at $1,624,000 after acquiring an additional 130,825 shares in the last quarter. Boston Advisors LLC raised its holdings in Neurocrine Biosciences by 571.3% in the second quarter. Boston Advisors LLC now owns 131,481 shares of the company’s stock valued at $12,917,000 after acquiring an additional 111,896 shares in the last quarter. Finally, American Century Companies Inc. raised its holdings in Neurocrine Biosciences by 14.0% in the second quarter. American Century Companies Inc. now owns 566,895 shares of the company’s stock valued at $55,692,000 after acquiring an additional 69,701 shares in the last quarter.
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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