ValuEngine upgraded shares of Neurocrine Biosciences (NASDAQ:NBIX) from a hold rating to a buy rating in a report released on Friday morning.
A number of other research analysts also recently issued reports on the stock. Bank of America reduced their price objective on shares of Neurocrine Biosciences from $124.00 to $117.00 and set a buy rating on the stock in a research report on Wednesday, February 6th. Cantor Fitzgerald reissued an overweight rating on shares of Neurocrine Biosciences in a research report on Wednesday, February 6th. HC Wainwright reissued a buy rating on shares of Neurocrine Biosciences in a research report on Wednesday, January 30th. Oppenheimer set a $105.00 price objective on shares of Neurocrine Biosciences and gave the company a buy rating in a research report on Tuesday, January 29th. Finally, Needham & Company LLC downgraded shares of Neurocrine Biosciences from a buy rating to a hold rating in a research report on Thursday, January 24th. One analyst has rated the stock with a sell rating, four have issued a hold rating and sixteen have assigned a buy rating to the company’s stock. The company currently has an average rating of Buy and an average price target of $102.28.
Shares of Neurocrine Biosciences stock opened at $84.65 on Friday. The firm has a market cap of $7.63 billion, a price-to-earnings ratio of 384.77, a P/E/G ratio of 30.89 and a beta of 1.89. Neurocrine Biosciences has a 12-month low of $64.72 and a 12-month high of $126.98.
In other news, CEO Kevin Charles Gorman sold 7,614 shares of the business’s stock in a transaction on Tuesday, February 5th. The shares were sold at an average price of $88.16, for a total transaction of $671,250.24. Following the sale, the chief executive officer now owns 408,082 shares in the company, valued at approximately $35,976,509.12. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Richard F. Pops sold 4,124 shares of the business’s stock in a transaction on Monday, November 26th. The shares were sold at an average price of $91.37, for a total transaction of $376,809.88. Following the sale, the director now owns 29,512 shares in the company, valued at approximately $2,696,511.44. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 18,582 shares of company stock worth $1,645,884. Company insiders own 4.30% of the company’s stock.
A number of institutional investors have recently made changes to their positions in NBIX. First Trust Advisors LP boosted its stake in Neurocrine Biosciences by 27.3% in the 4th quarter. First Trust Advisors LP now owns 1,299,455 shares of the company’s stock worth $92,794,000 after purchasing an additional 278,598 shares in the last quarter. Capital International Investors bought a new position in Neurocrine Biosciences in the 3rd quarter worth about $31,721,000. GW&K Investment Management LLC bought a new position in Neurocrine Biosciences in the 4th quarter worth about $16,611,000. Victory Capital Management Inc. boosted its stake in Neurocrine Biosciences by 60.5% in the 3rd quarter. Victory Capital Management Inc. now owns 605,135 shares of the company’s stock worth $74,402,000 after purchasing an additional 228,163 shares in the last quarter. Finally, Vanguard Group Inc boosted its stake in Neurocrine Biosciences by 2.7% in the 3rd quarter. Vanguard Group Inc now owns 7,772,236 shares of the company’s stock worth $955,597,000 after purchasing an additional 204,065 shares in the last quarter. Institutional investors own 97.90% of the company’s stock.
About Neurocrine Biosciences
Neurocrine Biosciences, Inc discovers and develops pharmaceuticals for the treatment of neurological and endocrine-related diseases and disorders in the United States. The company's lead products include INGREZZA (valbenazine), a vesicular monoamine transporter 2 inhibitor (VMAT2), which is used for the treatment of movement disorders; elagolix, a gonadotropin-releasing hormone (GnRH) antagonist that is in Phase III clinical trial for use in women's health; and opicapone, a catechol-O-methyltransferase inhibitor, which is in Phase III clinical trial that is used for in adjunct therapy and preparations of levodopa/DOPA decarboxylase inhibitors for adult patients with Parkinson's disease.
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