CIBC Begins Coverage on Neurocrine Biosciences (NASDAQ:NBIX)

CIBC began coverage on shares of Neurocrine Biosciences (NASDAQ:NBIX) in a research note released on Tuesday morning, FirstToMarketsRatingsTable reports. The firm issued an outperform rating and a $100.00 target price on the stock.

A number of other research analysts also recently weighed in on the company. Barclays set a GBX 6,800 ($88.85) price target on AstraZeneca and gave the company a buy rating in a research note on Friday, March 29th. Evercore ISI began coverage on Homology Medicines in a research note on Thursday, April 11th. They issued an outperform rating and a $29.00 price target for the company. Zacks Investment Research downgraded Farmland Partners from a hold rating to a sell rating in a research note on Friday, July 12th. ValuEngine upgraded ZTE CORP/ADR from a hold rating to a buy rating in a research note on Monday, April 15th. Finally, Guggenheim initiated coverage on resTORbio in a research report on Tuesday, June 4th. They issued a buy rating and a $28.00 price objective for the company. Six analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. Neurocrine Biosciences has an average rating of Buy and a consensus price target of $106.35.

NBIX stock traded down $1.19 during mid-day trading on Tuesday, reaching $87.32. The company had a trading volume of 3,108 shares, compared to its average volume of 563,342. The company has a debt-to-equity ratio of 0.96, a current ratio of 8.79 and a quick ratio of 8.61. The stock’s 50 day moving average is $84.54. The company has a market capitalization of $7.98 billion, a P/E ratio of 394.73 and a beta of 1.34. Neurocrine Biosciences has a 52 week low of $64.72 and a 52 week high of $126.98.

Neurocrine Biosciences (NASDAQ:NBIX) last posted its quarterly earnings results on Monday, April 29th. The company reported ($1.12) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($1.05) by ($0.07). The company had revenue of $138.40 million during the quarter, compared to the consensus estimate of $136.77 million. Neurocrine Biosciences had a negative net margin of 7.56% and a negative return on equity of 9.14%. The firm’s revenue for the quarter was up 94.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.47) earnings per share. As a group, equities analysts expect that Neurocrine Biosciences will post -0.06 EPS for the current fiscal year.

In related news, insider Haig P. Bozigian sold 1,300 shares of Neurocrine Biosciences stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $80.03, for a total transaction of $104,039.00. Following the completion of the sale, the insider now directly owns 143,276 shares of the company’s stock, valued at approximately $11,466,378.28. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Haig P. Bozigian sold 34,547 shares of Neurocrine Biosciences stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $75.51, for a total value of $2,608,643.97. The disclosure for this sale can be found here. Over the last three months, insiders have sold 175,155 shares of company stock valued at $14,142,477. 4.30% of the stock is currently owned by insiders.

A number of large investors have recently added to or reduced their stakes in NBIX. Norges Bank acquired a new stake in Neurocrine Biosciences during the 4th quarter worth approximately $61,171,000. Orbimed Advisors LLC lifted its holdings in Neurocrine Biosciences by 258.6% during the 4th quarter. Orbimed Advisors LLC now owns 494,200 shares of the company’s stock worth $35,291,000 after purchasing an additional 356,400 shares during the last quarter. Thrivent Financial for Lutherans lifted its holdings in Neurocrine Biosciences by 94.5% during the 4th quarter. Thrivent Financial for Lutherans now owns 691,851 shares of the company’s stock worth $49,405,000 after purchasing an additional 336,101 shares during the last quarter. Marshall Wace North America L.P. lifted its holdings in Neurocrine Biosciences by 83.5% during the 1st quarter. Marshall Wace North America L.P. now owns 580,904 shares of the company’s stock worth $51,178,000 after purchasing an additional 264,402 shares during the last quarter. Finally, Rockefeller Capital Management L.P. lifted its holdings in Neurocrine Biosciences by 6,021.8% during the 1st quarter. Rockefeller Capital Management L.P. now owns 224,977 shares of the company’s stock worth $19,821,000 after purchasing an additional 221,302 shares during the last quarter. 95.86% of the stock is owned by institutional investors and hedge funds.

Neurocrine Biosciences Company Profile

Neurocrine Biosciences, Inc discovers and develops pharmaceuticals for the treatment of neurological and endocrine-related diseases and disorders in the United States. The company offers INGREZZA (valbenazine), a vesicular monoamine transporter 2 inhibitor (VMAT2), which is used for the treatment of movement disorders; ORILISSA, a gonadotropin-releasing hormone (GnRH) antagonist for use in women's health.

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Analyst Recommendations for Neurocrine Biosciences (NASDAQ:NBIX)

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