Barclays PLC Raises Neurocrine Biosciences, Inc. (NBIX) Price Target to $85.00

Neurocrine Biosciences, Inc. (NASDAQ:NBIX) had its price target hoisted by Barclays PLC from $75.00 to $85.00 in a research report released on Thursday. Barclays PLC currently has an overweight rating on the stock.

A number of other brokerages have also issued reports on NBIX. Robert W. Baird restated an outperform rating and set a $66.00 target price on shares of Neurocrine Biosciences in a research report on Thursday, September 21st. Jefferies Group LLC restated a buy rating and set a $69.00 target price (up from $66.00) on shares of Neurocrine Biosciences in a research report on Tuesday, October 3rd. Leerink Swann restated an outperform rating and set a $83.00 target price (up from $72.00) on shares of Neurocrine Biosciences in a research report on Thursday. Oppenheimer Holdings, Inc. restated an outperform rating and set a $70.00 target price on shares of Neurocrine Biosciences in a research report on Wednesday, July 5th. Finally, Cowen and Company restated an outperform rating and set a $65.00 target price (up from $60.00) on shares of Neurocrine Biosciences in a research report on Wednesday, August 9th. One equities 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 an average rating of Buy and a consensus target price of $78.88.

Shares of Neurocrine Biosciences (NBIX) traded up $0.70 on Thursday, hitting $73.48. 2,385,825 shares of the stock were exchanged, compared to its average volume of 986,984. The company has a debt-to-equity ratio of 1.05, a quick ratio of 19.36 and a current ratio of 14.38. Neurocrine Biosciences has a twelve month low of $37.35 and a twelve month high of $63.77.

Neurocrine Biosciences (NASDAQ:NBIX) last announced its 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 analysts’ expectations of $29.38 million. During the same quarter last year, the business posted ($0.43) earnings per share. analysts anticipate that Neurocrine Biosciences will post -1.88 earnings per share for the current year.

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In other news, insider Dimitri E. Grigoriadis sold 15,354 shares of Neurocrine Biosciences stock in a transaction on Wednesday, August 9th. The stock was sold at an average price of $55.00, for a total transaction of $844,470.00. Following the completion of the transaction, the insider now owns 123,045 shares of the company’s stock, valued at approximately $6,767,475. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Christopher Flint Obrien sold 52,817 shares of Neurocrine Biosciences stock in a transaction on Tuesday, September 5th. The stock was sold at an average price of $57.50, for a total value of $3,036,977.50. Following the transaction, the insider now directly owns 101,790 shares of the company’s stock, valued at approximately $5,852,925. The disclosure for this sale can be found here. Insiders have sold a total of 101,346 shares of company stock worth $5,879,150 over the last 90 days. Insiders own 4.80% of the company’s stock.

Large investors have recently added to or reduced their stakes in the company. Janus Henderson Group PLC acquired a new position in Neurocrine Biosciences in the 2nd quarter valued at about $246,888,000. BlackRock Inc. raised its stake in 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 purchasing an additional 4,996,784 shares during the last quarter. TimesSquare Capital Management LLC raised its stake in Neurocrine Biosciences by 299.4% in the 2nd quarter. TimesSquare Capital Management LLC now owns 2,315,373 shares of the company’s stock valued at $106,507,000 after purchasing an additional 1,735,700 shares during the last quarter. HealthCor Management L.P. raised its stake in Neurocrine Biosciences by 108.2% in the 2nd quarter. HealthCor Management L.P. now owns 2,550,178 shares of the company’s stock valued at $117,308,000 after purchasing an additional 1,325,178 shares during the last quarter. Finally, FMR LLC raised its stake in 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 purchasing an additional 1,180,874 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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