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Cantor Fitzgerald Believes Neurocrine (NBIX) Won’t Stop Here


In a report released today, Charles Duncan from Cantor Fitzgerald initiated coverage with a Buy rating on Neurocrine (NASDAQ: NBIX) and a price target of $150. The company’s shares closed yesterday at $120.88, close to its 52-week high of $126.98.

Duncan commented:

“. We recently initiated coverage on NBIX with an Overweight rating and near Street-high $150 PT. Central to our thesis is the sustainability of growth for the INGREZZA franchise in Tardive Dyskinesia (TD). However, we also believe that a key driver of this franchise over time will be the use in other hyperkinetic movement disorders, and its safety profile and pharmacology suggest that it may have differentiated, first/best-in-class therapeutic utility in Tourette’s Syndrome (TS).”

According to TipRanks.com, Duncan is a 3-star analyst with an average return of 3.4% and a 47.9% success rate. Duncan covers the Healthcare sector, focusing on stocks such as Biohaven Pharmaceutical Holding Co Ltd, Deciphera Pharmaceuticals Inc, and ACADIA Pharmaceuticals Inc.

Neurocrine has an analyst consensus of Strong Buy, with a price target consensus of $133.22, implying a 10.2% upside from current levels. In a report issued on September 4, Oppenheimer also assigned a Buy rating to the stock with a $140 price target.

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The company has a one-year high of $126.98 and a one-year low of $55.95. Currently, Neurocrine has an average volume of 658.1K.

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.