BidaskClub upgraded shares of Neurocrine Biosciences (NASDAQ:NBIX) from a hold rating to a buy rating in a research note released on Thursday.
Several other research firms have also issued reports on NBIX. Oppenheimer set a $85.00 price target on Neurocrine Biosciences and gave the stock a buy rating in a research report on Tuesday, November 14th. Robert W. Baird restated a buy rating and set a $84.00 price target on shares of Neurocrine Biosciences in a research report on Friday, November 3rd. BMO Capital Markets restated an outperform rating and set a $84.00 price target on shares of Neurocrine Biosciences in a research report on Thursday, October 5th. Leerink Swann restated an outperform rating and set a $72.00 price target (up from $67.00) on shares of Neurocrine Biosciences in a research report on Tuesday, October 10th. Finally, Barclays raised their price target on Neurocrine Biosciences from $75.00 to $85.00 and gave the stock an overweight rating in a research report on Thursday, November 2nd. One research analyst has rated the stock with a hold rating and eighteen have issued a buy rating to the stock. Neurocrine Biosciences has a consensus rating of Buy and a consensus price target of $81.13.
Neurocrine Biosciences (NASDAQ:NBIX) traded down $2.70 on Thursday, reaching $80.28. The company had a trading volume of 1,134,100 shares, compared to its average volume of 1,234,167. The company has a current ratio of 14.38, a quick ratio of 14.37 and a debt-to-equity ratio of 1.05. Neurocrine Biosciences has a fifty-two week low of $38.43 and a fifty-two week high of $83.57. The company has a market cap of $7,230.00, a price-to-earnings ratio of -36.16 and a beta of 0.35.
In other news, insider Dimitri E. Grigoriadis sold 30,000 shares of Neurocrine Biosciences stock in a transaction that occurred on Wednesday, November 8th. The stock was sold at an average price of $74.58, for a total value of $2,237,400.00. Following the sale, the insider now directly owns 77,691 shares in the company, valued at approximately $5,794,194.78. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Darin Lippoldt sold 1,979 shares of the firm’s stock in a transaction that occurred on Wednesday, January 3rd. The shares were sold at an average price of $79.36, for a total value of $157,053.44. The disclosure for this sale can be found here. Over the last quarter, insiders sold 116,405 shares of company stock worth $8,588,519. Corporate insiders own 4.80% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in NBIX. The Manufacturers Life Insurance Company lifted its stake in shares of 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 purchasing an additional 193 shares during the period. Stephens Inc. AR purchased a new position in shares of Neurocrine Biosciences in the 2nd quarter valued at approximately $207,000. Comerica Bank purchased a new position in shares of Neurocrine Biosciences in the 3rd quarter valued at approximately $210,000. Ardsley Advisory Partners purchased a new position in shares of Neurocrine Biosciences in the 2nd quarter valued at approximately $230,000. Finally, Cubist Systematic Strategies LLC lifted its stake in shares of Neurocrine Biosciences by 151.5% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 5,301 shares of the company’s stock valued at $244,000 after purchasing an additional 3,193 shares during the period.
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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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