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Neurocrine (NBIX) Received its Third Buy in a Row


After H.C. Wainwright and Morgan Stanley gave Neurocrine (NASDAQ: NBIX) a Buy rating last month, the company received another Buy, this time from Cantor Fitzgerald. Analyst Charles Duncan reiterated a Buy rating on Neurocrine yesterday and set a price target of $150. The company’s shares closed on Tuesday at $86.24.

Duncan commented:

“. We reiterate our Overweight rating and $150 PT on NBIX. We visited Neurocrine with investors as part of our post-ASH bus tour this week. Our discussions focused mainly on Ingrezza and its potential for continued growth in Tardive Dyskinesia, as well as the company’s strategy for filing a Tourette’s sNDA. Due to a differentiated, best-in-class profile and an effective TD awareness initiative from a recently enlarged sales force, we believe that Ingrezza will continue to grow with deepening penetration of the TD market. We also look for increasingly visible label expansion efforts in TS by 2020 to enable the next phase of growth for NBIX, while anticipating pivotal data yet in 2018.”

According to TipRanks.com, Duncan is a 1-star analyst with an average return of -0.9% and a 43.6% 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 $131.90 average price target.

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Based on Neurocrine’s latest earnings release for the quarter ending September 30, the company reported a quarterly net profit of $50.76 million. In comparison, last year the company had a GAAP net loss of $11.13 million.

Based on the recent corporate insider activity of 64 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.