Neurocrine Biosciences (NBIX) Upgraded to “Strong-Buy” by BidaskClub

Neurocrine Biosciences (NASDAQ:NBIX) was upgraded by BidaskClub from a “buy” rating to a “strong-buy” rating in a research report issued on Wednesday, January 31st.

A number of other analysts have also weighed in on NBIX. Jefferies Group reaffirmed a “buy” rating and set a $69.00 price objective (up previously from $66.00) on shares of Neurocrine Biosciences in a research report on Tuesday, October 3rd. BMO Capital Markets reissued an “outperform” rating and issued a $84.00 target price on shares of Neurocrine Biosciences in a report on Thursday, October 5th. Leerink Swann reissued an “outperform” rating and issued a $72.00 target price (up previously from $67.00) on shares of Neurocrine Biosciences in a report on Tuesday, October 10th. Piper Jaffray Companies reissued a “buy” rating and issued a $76.00 target price on shares of Neurocrine Biosciences in a report on Wednesday, October 25th. Finally, Citigroup reissued a “buy” rating and issued a $79.00 target price on shares of Neurocrine Biosciences in a report on Thursday, November 2nd. One investment analyst has rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $84.13.

Shares of Neurocrine Biosciences (NBIX) opened at $79.28 on Wednesday. The stock has a market capitalization of $7,015.72, a P/E ratio of -35.71, a price-to-earnings-growth ratio of 13.14 and a beta of 0.26. The company has a debt-to-equity ratio of 1.05, a current ratio of 14.38 and a quick ratio of 14.37. Neurocrine Biosciences has a 12-month low of $39.21 and a 12-month high of $91.82.

In other Neurocrine Biosciences news, Director William H. Rastetter sold 9,500 shares of the stock in a transaction dated Wednesday, January 24th. The shares were sold at an average price of $90.00, for a total value of $855,000.00. Following the completion of the transaction, the director now directly owns 34,250 shares of the company’s stock, valued at $3,082,500. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Haig P. Bozigian sold 1,625 shares of the stock in a transaction dated Tuesday, January 16th. The shares were sold at an average price of $79.12, for a total transaction of $128,570.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 189,707 shares of company stock valued at $14,975,715. 4.80% of the stock is owned by insiders.

Several institutional investors and hedge funds have recently modified their holdings of NBIX. The Manufacturers Life Insurance Company increased its stake in shares of Neurocrine Biosciences by 7.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,665 shares of the company’s stock worth $123,000 after purchasing an additional 193 shares in the last quarter. Crow Point Partners LLC purchased a new position in shares of Neurocrine Biosciences during the 4th quarter worth approximately $145,000. American International Group Inc. purchased a new position in shares of Neurocrine Biosciences during the 4th quarter worth approximately $161,000. M&T Bank Corp purchased a new position in shares of Neurocrine Biosciences during the 4th quarter worth approximately $202,000. Finally, Mission Wealth Management LP purchased a new position in shares of Neurocrine Biosciences during the 4th quarter worth approximately $204,000.

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About Neurocrine Biosciences

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.

Analyst Recommendations for Neurocrine Biosciences (NASDAQ:NBIX)

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