BMO Capital Markets restated their outperform rating on shares of Neurocrine Biosciences Inc. (NASDAQ:NBIX) in a research report sent to investors on Thursday morning. The firm currently has a $66.00 target price on the stock.
NBIX has been the subject of several other research reports. Jefferies Group restated a buy rating and set a $61.00 price target on shares of Neurocrine Biosciences in a research note on Friday, September 23rd. HC Wainwright restated a buy rating on shares of Neurocrine Biosciences in a research note on Friday, August 5th. Piper Jaffray Cos. restated an overweight rating and set a $96.00 price target on shares of Neurocrine Biosciences in a research note on Thursday, September 22nd. Cowen and Company restated a buy rating and set a $65.00 price target on shares of Neurocrine Biosciences in a research note on Friday, August 5th. Finally, TheStreet lowered shares of Neurocrine Biosciences from a hold rating to a sell rating in a research note on Thursday, July 14th. One analyst has rated the stock with a sell rating and eleven have assigned a buy rating to the company’s stock. The company currently has a consensus rating of Buy and a consensus target price of $65.18.
Shares of Neurocrine Biosciences (NASDAQ:NBIX) opened at 44.59 on Thursday. The firm’s 50-day moving average price is $49.79 and its 200 day moving average price is $47.82. The company’s market capitalization is $3.87 billion. Neurocrine Biosciences has a 1-year low of $31.25 and a 1-year high of $58.46.
In other Neurocrine Biosciences news, Director Corinne H. Nevinny sold 5,000 shares of the firm’s stock in a transaction on Monday, August 8th. The shares were sold at an average price of $48.54, for a total value of $242,700.00. Following the completion of the transaction, the director now directly owns 25,555 shares of the company’s stock, valued at approximately $1,240,439.70. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Christopher Flint Obrien sold 12,500 shares of the firm’s stock in a transaction on Monday, August 15th. The shares were sold at an average price of $48.73, for a total transaction of $609,125.00. Following the completion of the transaction, the insider now directly owns 55,044 shares of the company’s stock, valued at $2,682,294.12. The disclosure for this sale can be found here. 4.80% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. First Mercantile Trust Co. increased its position in shares of Neurocrine Biosciences by 94.9% in the third quarter. First Mercantile Trust Co. now owns 3,897 shares of the company’s stock valued at $197,000 after buying an additional 1,897 shares during the last quarter. Stephens Inc. AR bought a new stake in Neurocrine Biosciences during the second quarter worth about $205,000. Fox Run Management L.L.C. bought a new stake in Neurocrine Biosciences during the third quarter worth about $218,000. Adams Diversified Equity Fund Inc. bought a new stake in Neurocrine Biosciences during the second quarter worth about $223,000. Finally, M&T Bank Corp bought a new stake in Neurocrine Biosciences during the first quarter worth about $262,000. 96.71% of the stock is owned by hedge funds and other institutional investors.
Neurocrine Biosciences Company Profile
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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