Neurocrine Biosciences, Inc. (NBIX) Given Outperform Rating at Robert W. Baird

Robert W. Baird reaffirmed their outperform rating on shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) in a report published on Friday, April 14th. The firm currently has a $66.00 price objective on the stock.

Several other analysts have also recently issued reports on the stock. Oppenheimer Holdings Inc. reiterated an outperform rating and issued a $55.00 target price on shares of Neurocrine Biosciences in a research note on Friday, February 10th. JPMorgan Chase & Co. set a $60.00 target price on shares of Neurocrine Biosciences and gave the stock a buy rating in a research note on Wednesday, April 12th. Needham & Company LLC restated a buy rating and set a $62.00 price objective on shares of Neurocrine Biosciences in a research report on Wednesday, January 18th. Cowen and Company restated a buy rating on shares of Neurocrine Biosciences in a research report on Wednesday, February 15th. Finally, Jefferies Group LLC increased their target price on shares of Neurocrine Biosciences from $59.00 to $65.00 and gave the company a buy rating in a report on Wednesday, April 12th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and sixteen have issued a buy rating to the company’s stock. The company has an average rating of Buy and an average price target of $68.06.

Neurocrine Biosciences (NASDAQ:NBIX) traded down 1.74% during midday trading on Friday, reaching $52.65. The company had a trading volume of 409,110 shares. The stock’s 50 day moving average is $50.09 and its 200 day moving average is $45.37. The company’s market capitalization is $4.64 billion. Neurocrine Biosciences has a one year low of $37.35 and a one year high of $55.38.

Neurocrine Biosciences (NASDAQ:NBIX) last announced its quarterly earnings results on Tuesday, May 9th. The company reported ($0.90) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.67) by $0.23. During the same quarter in the prior year, the firm posted ($0.22) EPS. Equities research analysts forecast that Neurocrine Biosciences will post ($2.46) earnings per share for the current fiscal year.

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In other news, CEO Kevin Charles Gorman sold 21,739 shares of the business’s stock in a transaction on Tuesday, May 2nd. The shares were sold at an average price of $53.23, for a total value of $1,157,166.97. Following the transaction, the chief executive officer now owns 354,346 shares of the company’s stock, valued at $18,861,837.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Corinne H. Nevinny sold 5,000 shares of the business’s stock in a transaction on Friday, May 5th. The stock was sold at an average price of $53.98, for a total transaction of $269,900.00. Following the completion of the transaction, the director now directly owns 34,603 shares in the company, valued at approximately $1,867,869.94. The disclosure for this sale can be found here. Over the last quarter, insiders sold 84,400 shares of company stock valued at $4,433,835. Company insiders own 4.80% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the company. Independent Portfolio Consultants Inc. bought a new position in Neurocrine Biosciences during the first quarter valued at approximately $106,000. First Mercantile Trust Co. increased its stake in Neurocrine Biosciences by 22.2% in the first quarter. First Mercantile Trust Co. now owns 3,082 shares of the company’s stock worth $133,000 after buying an additional 560 shares during the last quarter. Opus Point Partners Management LLC acquired a new stake in Neurocrine Biosciences during the third quarter worth about $206,000. Two Sigma Securities LLC acquired a new stake in Neurocrine Biosciences during the third quarter worth about $212,000. Finally, Capstone Asset Management Co. acquired a new stake in Neurocrine Biosciences during the first quarter worth about $214,000. 97.60% of the stock is currently owned by hedge funds and other institutional investors.

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.

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