Neurocrine Biosciences (NASDAQ:NBIX) Coverage Initiated by Analysts at Oppenheimer

Oppenheimer began coverage on shares of Neurocrine Biosciences (NASDAQ:NBIX) in a report published on Tuesday, Briefing.com Automated Import reports. The brokerage issued an outperform rating and a $100.00 target price on the stock.

A number of other equities analysts have also recently weighed in on the company. Guggenheim assumed coverage on resTORbio in a research note on Tuesday, June 4th. They issued a buy rating and a $28.00 price target on the stock. Credit Suisse Group assumed coverage on Regeneron Pharmaceuticals in a research note on Monday, May 20th. They issued a neutral rating and a $336.00 price target on the stock. Barclays set a GBX 6,800 ($88.85) price target on AstraZeneca and gave the stock a buy rating in a research note on Friday, March 29th. JPMorgan Chase & Co. cut Ciena from a neutral rating to an underweight rating in a research note on Monday, April 22nd. Finally, Zacks Investment Research cut Farmland Partners from a hold rating to a sell rating in a research note on Friday, July 12th. Six research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. Neurocrine Biosciences has a consensus rating of Buy and an average price target of $106.35.

NBIX traded down $1.19 during trading on Tuesday, reaching $87.32. The company had a trading volume of 3,108 shares, compared to its average volume of 563,342. The company has a 50-day moving average of $84.54. The firm has a market capitalization of $7.98 billion, a P/E ratio of 394.73 and a beta of 1.34. Neurocrine Biosciences has a 12-month low of $64.72 and a 12-month high of $126.98. The company has a current ratio of 8.79, a quick ratio of 8.61 and a debt-to-equity ratio of 0.96.

Neurocrine Biosciences (NASDAQ:NBIX) last issued its quarterly earnings results on Monday, April 29th. The company reported ($1.12) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($1.05) by ($0.07). The company had revenue of $138.40 million during the quarter, compared to analysts’ expectations of $136.77 million. Neurocrine Biosciences had a negative return on equity of 9.14% and a negative net margin of 7.56%. The company’s revenue for the quarter was up 94.7% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.47) EPS. Analysts anticipate that Neurocrine Biosciences will post -0.06 earnings per share for the current fiscal year.

In other Neurocrine Biosciences news, insider Haig P. Bozigian sold 2,100 shares of Neurocrine Biosciences stock in a transaction dated Tuesday, June 18th. The stock was sold at an average price of $87.82, for a total transaction of $184,422.00. Following the transaction, the insider now owns 144,076 shares of the company’s stock, valued at approximately $12,652,754.32. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Haig P. Bozigian sold 1,300 shares of the business’s stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $80.03, for a total value of $104,039.00. Following the completion of the sale, the insider now directly owns 143,276 shares of the company’s stock, valued at approximately $11,466,378.28. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 175,155 shares of company stock worth $14,142,477. Company insiders own 4.30% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Evolution Wealth Advisors LLC bought a new stake in shares of Neurocrine Biosciences in the 2nd quarter valued at approximately $40,000. NEXT Financial Group Inc grew its stake in shares of Neurocrine Biosciences by 89.8% in the 2nd quarter. NEXT Financial Group Inc now owns 560 shares of the company’s stock valued at $47,000 after buying an additional 265 shares in the last quarter. Quadrant Capital Group LLC grew its stake in shares of Neurocrine Biosciences by 9,242.9% in the 1st quarter. Quadrant Capital Group LLC now owns 654 shares of the company’s stock valued at $56,000 after buying an additional 647 shares in the last quarter. Arbor Wealth Management LLC bought a new stake in shares of Neurocrine Biosciences in the 4th quarter valued at approximately $92,000. Finally, SG Americas Securities LLC grew its stake in shares of Neurocrine Biosciences by 6.8% in the 1st quarter. SG Americas Securities LLC now owns 2,106 shares of the company’s stock valued at $186,000 after buying an additional 135 shares in the last quarter. 95.86% of the stock is owned by institutional investors and hedge funds.

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 offers INGREZZA (valbenazine), a vesicular monoamine transporter 2 inhibitor (VMAT2), which is used for the treatment of movement disorders; ORILISSA, a gonadotropin-releasing hormone (GnRH) antagonist for use in women's health.

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Analyst Recommendations for Neurocrine Biosciences (NASDAQ:NBIX)

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