Cantor Fitzgerald analyst Charles Duncan reiterated a Buy rating on Neurocrine (NBIX) yesterday and set a price target of $121. The company’s shares closed yesterday at $85.13.
Duncan said:
“. We reiterate our Overweight rating and $121 PT on NBIX. Voyager (VYGR, NC) announced a collaboration to develop four of Voyager’s assets, including those for Friedrich’s Ataxia. We believe this deal brings value to both partners, allowing Neurocrine to expand its platform to innovative gene therapy treatments, while it continues to focus on realizing clinical and commercial synergies in movement disorders (and also possibly to expand to additional indications that may be served by Voyager’s platform). We also opine that Voyager benefits from a partner with significantly more resources and expertise in clinical development and commercialization.”
According to TipRanks.com, Duncan is a 1-star analyst with an average return of -1.0% and a 43.2% success rate. Duncan covers the Healthcare sector, focusing on stocks such as Biohaven Pharmaceutical Holding Co Ltd, KalVista Pharmaceuticals Inc, and ACADIA Pharmaceuticals Inc.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Neurocrine with a $106.57 average price target, a 25.2% upside from current levels. In a report issued on January 15, H.C. Wainwright also maintained a Buy rating on the stock with a $102 price target.
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Neurocrine’s market cap is currently $7.72B and has a P/E ratio of 1379.74. The company has a Price to Book ratio of 17.25.
Based on the recent corporate insider activity of 54 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.
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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.
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