Oppenheimer Holdings, Inc. Raises Neurocrine Biosciences, Inc. (NBIX) Price Target to $85.00

Neurocrine Biosciences, Inc. (NASDAQ:NBIX) had its target price boosted by Oppenheimer Holdings, Inc. from $70.00 to $85.00 in a research report issued on Thursday. The brokerage presently has an “outperform” rating on the stock. Oppenheimer Holdings, Inc.’s price objective points to a potential upside of 36.85% from the company’s previous close.

A number of other research firms also recently commented on NBIX. BMO Capital Markets restated an “outperform” rating and issued a $84.00 price objective on shares of Neurocrine Biosciences in a report on Thursday, October 5th. Leerink Swann restated an “outperform” rating and issued a $72.00 price objective (up previously from $67.00) on shares of Neurocrine Biosciences in a report on Tuesday, October 10th. Citigroup Inc. restated a “buy” rating and issued a $79.00 price objective on shares of Neurocrine Biosciences in a report on Thursday. Deutsche Bank AG restated a “buy” rating and issued a $79.00 price objective on shares of Neurocrine Biosciences in a report on Thursday. Finally, Jefferies Group LLC restated a “buy” rating and issued a $69.00 price objective (up previously from $66.00) on shares of Neurocrine Biosciences in a report on Tuesday, October 3rd. One research analyst has rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $76.00.

Neurocrine Biosciences (NASDAQ:NBIX) last issued its earnings results on Wednesday, November 1st. The company reported ($0.13) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.49) by $0.36. The business had revenue of $60.77 million during the quarter, compared to analyst estimates of $29.38 million. During the same quarter in the prior year, the company earned ($0.43) EPS.

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In other Neurocrine Biosciences news, insider Haig P. Bozigian sold 22,500 shares of the stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $50.00, for a total transaction of $1,125,000.00. Following the transaction, the insider now owns 154,601 shares in the company, valued at $7,730,050. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, 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 value of $844,470.00. Following the transaction, the insider now owns 123,045 shares in the company, valued at approximately $6,767,475. The disclosure for this sale can be found here. In the last quarter, insiders have sold 123,846 shares of company stock worth $7,004,150. Corporate insiders own 4.80% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the company. First Trust Advisors LP boosted its position in shares of Neurocrine Biosciences by 29.0% in the third quarter. First Trust Advisors LP now owns 782,685 shares of the company’s stock valued at $47,963,000 after acquiring an additional 176,136 shares during the period. Canada Pension Plan Investment Board boosted its position in shares of Neurocrine Biosciences by 49.7% in the second quarter. Canada Pension Plan Investment Board now owns 24,700 shares of the company’s stock valued at $1,136,000 after acquiring an additional 8,200 shares during the period. BlackRock Inc. boosted its position in shares of Neurocrine Biosciences by 14,216.0% in the first 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. Point72 Asset Management L.P. bought a new stake in shares of Neurocrine Biosciences in the first quarter valued at approximately $4,330,000. Finally, Schwab Charles Investment Management Inc. boosted its position in shares of Neurocrine Biosciences by 8.5% in the first quarter. Schwab Charles Investment Management Inc. now owns 346,906 shares of the company’s stock valued at $15,022,000 after acquiring an additional 27,245 shares during the period.

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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