Neurocrine Biosciences Inc. (NASDAQ:NBIX)‘s stock had its “buy” rating reaffirmed by research analysts at Jefferies Group in a report issued on Friday. They currently have a $61.00 price target on the stock. Jefferies Group’s price target indicates a potential upside of 14.55% from the company’s current price.
Other research analysts also recently issued reports about the company. TheStreet downgraded Neurocrine Biosciences from a “hold” rating to a “sell” rating in a research note on Thursday, July 14th. Leerink Swann reiterated an “outperform” rating and set a $63.00 target price on shares of Neurocrine Biosciences in a research report on Wednesday, June 1st. Cowen and Company reiterated a “buy” rating and set a $65.00 target price on shares of Neurocrine Biosciences in a research report on Friday, August 5th. HC Wainwright started coverage on Neurocrine Biosciences in a research report on Wednesday, June 29th. They set a “buy” rating and a $80.00 target price for the company. Finally, Piper Jaffray Cos. reiterated an “overweight” rating and set a $96.00 target price on shares of Neurocrine Biosciences in a research report on Tuesday, June 7th. One equities research analyst has rated the stock with a sell rating and ten have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $64.80.
Neurocrine Biosciences (NASDAQ:NBIX) opened at 53.25 on Friday. Neurocrine Biosciences has a 52 week low of $31.25 and a 52 week high of $58.46. The stock’s market capitalization is $4.62 billion. The company has a 50 day moving average of $50.45 and a 200 day moving average of $46.60.
In other Neurocrine Biosciences news, insider Christopher Flint Obrien sold 12,500 shares of the stock in a transaction on Monday, August 15th. The stock was sold at an average price of $48.73, for a total value of $609,125.00. Following the sale, the insider now owns 55,044 shares in the company, valued at $2,682,294.12. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Malcolm Lloyd-Smith sold 9,000 shares of the stock in a transaction on Thursday, September 1st. The stock was sold at an average price of $50.00, for a total value of $450,000.00. Following the completion of the sale, the insider now owns 9,000 shares in the company, valued at approximately $450,000. The disclosure for this sale can be found here. 4.80% of the stock is owned by company insiders.
A number of hedge funds have recently added to or reduced their stakes in NBIX. Royal Bank of Canada raised its stake in Neurocrine Biosciences by 3.1% in the second quarter. Royal Bank of Canada now owns 477,152 shares of the company’s stock worth $21,686,000 after buying an additional 14,449 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new stake in Neurocrine Biosciences during the second quarter worth $2,522,000. Amalgamated Bank raised its stake in Neurocrine Biosciences by 52.6% in the second quarter. Amalgamated Bank now owns 13,729 shares of the company’s stock worth $662,000 after buying an additional 4,735 shares during the last quarter. Highbridge Capital Management LLC purchased a new position in shares of Neurocrine Biosciences during the second quarter valued at approximately $399,000. Finally, Lombard Odier Asset Management USA Corp raised its position in shares of Neurocrine Biosciences by 23.8% in the second quarter. Lombard Odier Asset Management USA Corp now owns 30,755 shares of the company’s stock valued at $1,398,000 after buying an additional 5,914 shares in the last quarter. Institutional investors and hedge funds own 96.70% of the company’s stock.
About Neurocrine Biosciences
Neurocrine Biosciences, Inc is engaged in the development of pharmaceutical products focused on neurological and endocrine-based diseases and disorders. The Company’s two lead late-stage clinical programs are Elagolix, a gonadotropin-releasing hormone (GnRH) antagonist for women’s health that is partnered with AbbVie Inc (AbbVie), and NBI-98854 (valbenazine), a vesicular monoamine transporter 2 (VMAT2) inhibitor for the treatment of movement disorders.
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