Neurocrine Biosciences, Inc. (NBIX) Receives “Buy” Rating from Piper Jaffray Companies

Piper Jaffray Companies reaffirmed their buy rating on shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) in a report issued on Wednesday morning. Piper Jaffray Companies currently has a $76.00 price objective on the stock.

Other research analysts have also issued research reports about the stock. BidaskClub raised shares of Neurocrine Biosciences from a hold rating to a buy rating in a research report on Wednesday, August 9th. Jefferies Group LLC reissued a buy rating and issued a $69.00 price target (up previously from $66.00) on shares of Neurocrine Biosciences in a research report on Tuesday, October 3rd. Needham & Company LLC reissued a buy rating and issued a $58.00 price target on shares of Neurocrine Biosciences in a research report on Sunday, September 17th. Oppenheimer Holdings, Inc. reissued a buy rating and issued a $70.00 price target on shares of Neurocrine Biosciences in a research report on Thursday, September 7th. Finally, ValuEngine raised shares of Neurocrine Biosciences from a sell rating to a hold rating in a research report on Friday, September 1st. Two investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. Neurocrine Biosciences currently has an average rating of Buy and an average price target of $69.31.

Neurocrine Biosciences (NBIX) traded up 4.70% during trading on Wednesday, reaching $62.14. The company had a trading volume of 1,007,207 shares. Neurocrine Biosciences has a 12-month low of $37.35 and a 12-month high of $63.77. The firm has a 50-day moving average price of $59.64 and a 200 day moving average price of $52.51. The stock’s market cap is $5.48 billion.

Neurocrine Biosciences (NASDAQ:NBIX) last posted its quarterly earnings results on Thursday, August 3rd. The company reported ($0.68) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.67) by ($0.01). The company had revenue of $6.34 million for the quarter, compared to analysts’ expectations of $0.61 million. During the same period in the previous year, the business earned ($0.46) earnings per share. Equities research analysts predict that Neurocrine Biosciences will post ($2.45) EPS for the current fiscal year.

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In other news, insider Dimitri E. Grigoriadis sold 15,354 shares of the stock in a transaction that occurred on Wednesday, August 9th. The shares were sold at an average price of $55.00, for a total transaction of $844,470.00. Following the sale, the insider now directly owns 123,045 shares of the company’s stock, valued at $6,767,475. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Christopher Flint Obrien sold 6,925 shares of the stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $61.04, for a total transaction of $422,702.00. Following the sale, the insider now directly owns 55,898 shares in the company, valued at $3,412,013.92. The disclosure for this sale can be found here. Insiders have sold 123,846 shares of company stock worth $7,004,150 over the last ninety days. Insiders own 4.80% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Teacher Retirement System of Texas grew its stake in shares of Neurocrine Biosciences by 0.8% during the second quarter. Teacher Retirement System of Texas now owns 6,966 shares of the company’s stock valued at $320,000 after purchasing an additional 57 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of Neurocrine Biosciences by 7.8% during 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. Utah Retirement Systems grew its stake in shares of Neurocrine Biosciences by 1.9% during the second quarter. Utah Retirement Systems now owns 16,000 shares of the company’s stock valued at $736,000 after purchasing an additional 300 shares during the last quarter. Nuveen Asset Management LLC grew its stake in shares of Neurocrine Biosciences by 5.6% during the first quarter. Nuveen Asset Management LLC now owns 14,464 shares of the company’s stock valued at $626,000 after purchasing an additional 763 shares during the last quarter. Finally, Aperio Group LLC grew its stake in shares of Neurocrine Biosciences by 3.7% during the second quarter. Aperio Group LLC now owns 22,324 shares of the company’s stock valued at $1,027,000 after purchasing an additional 789 shares during the last quarter.

Neurocrine Biosciences Company Profile

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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