Neurocrine Receives a Buy from BMO Capital

By Ryan Adsit

BMO Capital analyst Ian Somaiya reiterated a Buy rating on Neurocrine (NASDAQ: NBIX) yesterday and set a price target of $72. The company’s shares opened today at $44.67.

According to TipRanks.com, Somaiya is a 5-star analyst with an average return of 9.8% and a 43.5% success rate. Somaiya covers the Healthcare sector, focusing on stocks such as Aeglea Biotherapeutics Inc, Corcept Therapeutics Inc., and Protagonist Therapeutics.

Currently, the analyst consensus on Neurocrine is Strong Buy and the average price target is $64.67, representing a 44.8% upside.

In a report issued on October 18, Piper Jaffray also reiterated a Buy rating on the stock with a $96 price target.

The company has a one year high of $58.46 and a one year low of $31.25. Currently, Neurocrine has an average volume of 761.6K.

Based on the recent corporate insider activity of 35 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 May 2016, Gary Lyons, a Director at NBIX bought 15,000 shares for a total of $46,050.

Neurocrine Biosciences, Inc. operates as a product based biopharmaceutical company. It discovers, develops and intends to commercialize drugs for the treatment of neurological and endocrine related diseases and disorders. The company was founded by Kevin C. Gorman and Wylie W. Vale in January 1992 and is headquartered in San Diego, CA.