Cantor Fitzgerald analyst Charles Duncan reiterated a Buy rating on Neurocrine (NASDAQ: NBIX) today and set a price target of $150. The company’s shares closed yesterday at $120.26, close to its 52-week high of $126.98.
Duncan said:
“We reiterate our OW rating and 12-month PT of $150 on NBIX. On Tuesday, we hosted a call with a physician who has deep expertise in movement disorders and is familiar with, arguably pioneered, the use of VMAT2 inhibitors in various hyperkinetic disorders, having treated thousands of pediatric Tourette Syndrome (pTS) patients. Our discussion focused on the KOL’s views on the current TS treatment landscape, unmet needs, and efficacy of VMAT2i’s. Although some investors may be skeptical of valbenazine efficacy in pTS after 2 prior study failures (one in adult and another in pTS), we are optimistic about PoS of the ongoing pTS trial. Based, in part, on our recent KOL diligence including this call, we have increased conviction in not only the probability of T-Force GOLD success, but also in the market opportunity for valbe’ in TS.”
According to TipRanks.com, Duncan is a 3-star analyst with an average return of 3.2% and a 48.6% success rate. Duncan covers the Healthcare sector, focusing on stocks such as Biohaven Pharmaceutical Holding Co Ltd, Deciphera Pharmaceuticals Inc, and ACADIA Pharmaceuticals Inc.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Neurocrine with a $133.22 average price target, a 10.8% upside from current levels. In a report issued on September 4, Needham also maintained a Buy rating on the stock with a $125 price target.
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The company has a one-year high of $126.98 and a one-year low of $56.18. Currently, Neurocrine has an average volume of 647.1K.
Based on the recent corporate insider activity of 62 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of NBIX in relation to earlier this year. Most recently, in June 2018, Kevin Charles Gorman, the CEO of NBIX bought 57,924 shares for a total of $533,416.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Neurocrine Biosciences, Inc. operates as a product based bio-pharmaceutical company. It discovers, develops and intends to commercialize drugs for the treatment of neurological and endocrine related diseases and disorders.
