Oppenheimer Holdings, Inc. Reiterates “Buy” Rating for Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Neurocrine Biosciences, Inc. (NASDAQ:NBIX)‘s stock had its “buy” rating reaffirmed by investment analysts at Oppenheimer Holdings, Inc. in a research report issued on Thursday, September 7th. They currently have a $70.00 price objective on the stock. Oppenheimer Holdings, Inc.’s target price indicates a potential upside of 23.44% from the stock’s previous close.

NBIX has been the subject of a number of other research reports. ValuEngine raised shares of Neurocrine Biosciences from a “strong sell” rating to a “sell” rating in a report on Friday, June 2nd. Jefferies Group LLC reaffirmed a “buy” rating and issued a $67.00 price objective on shares of Neurocrine Biosciences in a report on Monday, May 22nd. BMO Capital Markets boosted their target price on shares of Neurocrine Biosciences from $75.00 to $84.00 and gave the stock an “outperform” rating in a research note on Friday, August 4th. BidaskClub raised shares of Neurocrine Biosciences from a “sell” rating to a “hold” rating in a research note on Wednesday, June 21st. Finally, Piper Jaffray Companies set a $68.00 target price on shares of Neurocrine Biosciences and gave the stock a “buy” rating in a research note on Thursday, August 24th. Two analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $68.25.

Shares of Neurocrine Biosciences (NBIX) traded down 0.35% during trading on Thursday, reaching $56.71. The company’s stock had a trading volume of 1,308,376 shares. Neurocrine Biosciences has a one year low of $37.35 and a one year high of $60.00. The firm’s 50-day moving average price is $53.95 and its 200-day moving average price is $48.92. The company’s market capitalization is $5.00 billion.

Neurocrine Biosciences (NASDAQ:NBIX) last released its quarterly earnings data on Thursday, August 3rd. The company reported ($0.68) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.67) by ($0.01). The business had revenue of $6.34 million for the quarter, compared to the consensus estimate of $0.61 million. During the same period last year, the firm earned ($0.46) earnings per share. On average, equities analysts anticipate that Neurocrine Biosciences will post ($2.45) earnings per share for the current year.

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In other Neurocrine Biosciences news, insider Haig P. Bozigian sold 26,250 shares of the business’s stock in a transaction dated Wednesday, September 6th. The shares were sold at an average price of $60.00, for a total value of $1,575,000.00. Following the transaction, the insider now directly owns 144,601 shares in the company, valued at approximately $8,676,060. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Haig P. Bozigian sold 22,500 shares of the business’s stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $50.00, for a total transaction of $1,125,000.00. Following the completion of the transaction, the insider now owns 154,601 shares in the company, valued at $7,730,050. The disclosure for this sale can be found here. Insiders sold a total of 125,655 shares of company stock worth $7,018,148 over the last quarter. 4.80% of the stock is currently owned by company insiders.

Institutional investors have recently added to or reduced their stakes in the company. FMR LLC raised its stake in shares of Neurocrine Biosciences by 9.8% in the 2nd quarter. FMR LLC now owns 13,211,023 shares of the company’s stock valued at $607,707,000 after acquiring an additional 1,180,874 shares during the period. Vanguard Group Inc. raised its stake in shares of Neurocrine Biosciences by 2.8% in the 2nd quarter. Vanguard Group Inc. now owns 6,922,294 shares of the company’s stock valued at $318,426,000 after acquiring an additional 186,329 shares during the period. Janus Henderson Group PLC purchased a new stake in shares of Neurocrine Biosciences in the 2nd quarter valued at approximately $246,888,000. BlackRock Inc. raised its stake in shares of Neurocrine Biosciences by 14,216.0% in the 1st quarter. BlackRock Inc. now owns 5,031,933 shares of the company’s stock valued at $217,884,000 after acquiring an additional 4,996,784 shares during the period. Finally, Janus Capital Management LLC raised its stake in shares of Neurocrine Biosciences by 85.0% in the 1st quarter. Janus Capital Management LLC now owns 4,359,384 shares of the company’s stock valued at $188,759,000 after acquiring an additional 2,002,899 shares during the period.

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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