Needham & Company LLC Increases Neurocrine Biosciences (NBIX) Price Target to $95.00

Neurocrine Biosciences (NASDAQ:NBIX) had its price target raised by stock analysts at Needham & Company LLC to $95.00 in a note issued to investors on Tuesday. The firm currently has a “buy” rating on the stock. Needham & Company LLC’s price target would suggest a potential upside of 25.20% from the stock’s current price.

A number of other equities analysts also recently issued reports on NBIX. Robert W. Baird reaffirmed an “outperform” rating and set a $66.00 price target on shares of Neurocrine Biosciences in a research report on Thursday, September 21st. Jefferies Group reaffirmed a “buy” rating and set a $69.00 price target (up from $66.00) on shares of Neurocrine Biosciences in a research report on Tuesday, October 3rd. BMO Capital Markets reaffirmed 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 reaffirmed 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, Piper Jaffray Companies reaffirmed a “buy” rating and set a $76.00 price target on shares of Neurocrine Biosciences in a research report on Wednesday, October 25th. One research analyst has rated the stock with a hold rating and eighteen have given a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $82.31.

Shares of Neurocrine Biosciences (NBIX) traded down $0.21 during trading hours on Tuesday, reaching $75.88. 1,135,600 shares of the company were exchanged, compared to its average volume of 1,125,073. The company has a market capitalization of $6,930.00, a P/E ratio of -34.18 and a beta of 0.35. The company has a quick ratio of 14.37, a current ratio of 14.38 and a debt-to-equity ratio of 1.05. Neurocrine Biosciences has a 52 week low of $38.43 and a 52 week high of $83.84.

Neurocrine Biosciences (NASDAQ:NBIX) last issued its quarterly earnings results on Wednesday, November 1st. The company reported ($0.13) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.49) by $0.36. The business had revenue of $60.77 million for the quarter, compared to analyst estimates of $29.38 million. During the same period in the previous year, the company posted ($0.43) earnings per share. equities analysts anticipate that Neurocrine Biosciences will post -1.61 earnings per share for the current fiscal year.

In other news, insider Dimitri E. Grigoriadis sold 30,000 shares of the business’s stock in a transaction on Wednesday, November 8th. The shares were sold at an average price of $74.58, for a total transaction of $2,237,400.00. Following the sale, the insider now directly owns 77,691 shares of the company’s stock, valued at $5,794,194.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Darin Lippoldt sold 1,979 shares of the business’s stock in a transaction on Wednesday, January 3rd. The shares were sold at an average price of $79.36, for a total transaction of $157,053.44. The disclosure for this sale can be found here. Insiders have sold 116,405 shares of company stock worth $8,588,519 over the last three months. Corporate insiders own 4.80% of the company’s stock.

Large investors have recently bought and sold shares of the business. Crow Point Partners LLC purchased a new stake in Neurocrine Biosciences in the fourth quarter valued at $145,000. The Manufacturers Life Insurance Company boosted its holdings in Neurocrine Biosciences by 7.8% in the second 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 last quarter. Comerica Bank purchased a new stake in Neurocrine Biosciences in the third quarter valued at $210,000. Trexquant Investment LP purchased a new stake in Neurocrine Biosciences in the third quarter valued at $246,000. Finally, World Asset Management Inc purchased a new stake in Neurocrine Biosciences in the third quarter valued at $246,000.

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About Neurocrine Biosciences

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.

Analyst Recommendations for Neurocrine Biosciences (NASDAQ:NBIX)

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