Oppenheimer analyst Jay Olson maintained a Buy rating on Neurocrine (NASDAQ: NBIX) today and set a price target of $140. The company’s shares closed yesterday at $121.84, close to its 52-week high of $126.82.
Olson said:
“We met Kevin Gorman (CEO), Matt Abernethy (CFO) and Eric Benevich (CCO) to discuss Ingrezza launch trajectory, near-term catalysts and long-term outlook for NBIX. Management describes Ingrezza TD launch as entering a lumpy phase in terms of quarterly cadence. While NBIX does not provide Ingrezza sales guidance, management is optimistic about the magnitude of the opportunity for TD and suggests TS can be as large or larger. Potentially pivotal TS study T-Force GOLD is still on track for top-line results by end of 2018 and opicapone filing in 1H19. POC data in CAH expected 4Q18 could support a 2019 pivotal trial and elagolix should be filed for UF in 2019. These catalysts could unlock significant shareholder value in our view.”
According to TipRanks.com, Olson is a 1-star analyst with an average return of -1.2% and a 43.6% success rate. Olson covers the Healthcare sector, focusing on stocks such as Madrigal Pharmaceuticals Inc, Eiger Biopharmaceuticals, and Conatus Pharmaceuticals.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Neurocrine with a $133.22 average price target, implying a 9.3% 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.
.
See today’s analyst top recommended stocks >>
The company has a one-year high of $126.82 and a one-year low of $55.95. Currently, Neurocrine has an average volume of 652.5K.
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.
