Oppenheimer Sticks to Their Buy Rating for Neurocrine (NBIX)


In a report released yesterday, Jay Olson from Oppenheimer maintained a Buy rating on Neurocrine (NBIX), with a price target of $140. The company’s shares closed yesterday at $85.76.

Olson said:

“With Ph2 data in Tourette sydrome (TS) slated for topline release this month, we explore the potential scenarios and impact to NBIX shares. We consider the T-Force- GOLD study of valbenazine in pediatric TS to be an important catalyst for NBIX shares, which have sold off sharply in front of this binary event (NBIX -31% vs. NBI -14% and 10/31/2018) as investors have moved to avoid near- term binary event risks. We believe now is the right time for investors to position themselves in front of this catalyst and provide some details to consider in this note, including probabilities, upside and downside moves and benchmarks for effect size. We believe that TS and other catalysts in 2019 could unlock significant shareholder value.”

According to TipRanks.com, Olson is currently ranked with no stars on a 0-5 star ranking scale, with an average return of -11.1% and a 29.3% success rate. Olson covers the Healthcare sector, focusing on stocks such as Madrigal Pharmaceuticals Inc, Eiger Biopharmaceuticals, and Conatus Pharmaceuticals.

Currently, the analyst consensus on Neurocrine is a Strong Buy with an average price target of $131.90, implying a 53.8% upside from current levels. In a report issued on December 5, Cantor Fitzgerald also reiterated a Buy rating on the stock with a $150 price target.

.

See today’s analyst top recommended stocks >>

The company has a one-year high of $126.98 and a one-year low of $68.22. Currently, Neurocrine has an average volume of 850.6K.

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.

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.

Stay Ahead of Everyone Else

Get The Latest Stock News Alerts