Neurocrine Biosciences (NASDAQ:NBIX) Given New $216.00 Price Target at Oppenheimer

Neurocrine Biosciences (NASDAQ:NBIX) had its price objective increased by stock analysts at Oppenheimer from $200.00 to $216.00 in a research report issued on Thursday, Benzinga reports. The firm presently has an “outperform” rating on the stock. Oppenheimer’s price target suggests a potential upside of 51.02% from the stock’s current price.

Several other equities analysts also recently commented on the stock. Wells Fargo & Company raised shares of Neurocrine Biosciences from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $140.00 to $170.00 in a research note on Wednesday, April 24th. Barclays increased their price objective on shares of Neurocrine Biosciences from $145.00 to $150.00 and gave the company an “overweight” rating in a research note on Tuesday, January 23rd. Citigroup dropped their price target on shares of Neurocrine Biosciences from $141.00 to $140.00 and set a “neutral” rating for the company in a research note on Thursday, February 8th. Mizuho raised their price target on shares of Neurocrine Biosciences from $116.00 to $140.00 and gave the company a “neutral” rating in a research note on Thursday, February 8th. Finally, Wedbush reaffirmed an “outperform” rating and set a $147.00 price target on shares of Neurocrine Biosciences in a research note on Wednesday, April 17th. Six investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $143.46.

Neurocrine Biosciences Price Performance

Shares of NASDAQ:NBIX opened at $143.03 on Thursday. The company has a market cap of $14.23 billion, a price-to-earnings ratio of 59.10 and a beta of 0.28. The firm has a 50 day simple moving average of $137.11 and a 200 day simple moving average of $128.51. Neurocrine Biosciences has a one year low of $89.04 and a one year high of $148.37.

Neurocrine Biosciences (NASDAQ:NBIX) last issued its quarterly earnings data on Wednesday, February 7th. The company reported $1.44 EPS for the quarter, beating the consensus estimate of $1.13 by $0.31. The business had revenue of $515.20 million during the quarter, compared to the consensus estimate of $518.52 million. Neurocrine Biosciences had a net margin of 13.23% and a return on equity of 12.85%. The firm’s revenue was up 25.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.88 EPS. As a group, analysts expect that Neurocrine Biosciences will post 4.8 EPS for the current year.

Insiders Place Their Bets

In other Neurocrine Biosciences news, Director Richard F. Pops sold 15,000 shares of the firm’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $132.47, for a total value of $1,987,050.00. Following the completion of the sale, the director now directly owns 29,512 shares in the company, valued at $3,909,454.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Ingrid Delaet sold 5,000 shares of Neurocrine Biosciences stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $145.06, for a total transaction of $725,300.00. Following the completion of the transaction, the insider now directly owns 7,507 shares in the company, valued at $1,088,965.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Richard F. Pops sold 15,000 shares of Neurocrine Biosciences stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $132.47, for a total transaction of $1,987,050.00. Following the transaction, the director now owns 29,512 shares of the company’s stock, valued at $3,909,454.64. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 181,547 shares of company stock worth $25,039,887. 4.30% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Mather Group LLC. acquired a new position in shares of Neurocrine Biosciences during the first quarter valued at about $26,000. Lindbrook Capital LLC grew its holdings in shares of Neurocrine Biosciences by 85.0% during the fourth quarter. Lindbrook Capital LLC now owns 209 shares of the company’s stock valued at $28,000 after buying an additional 96 shares during the last quarter. EdgeRock Capital LLC acquired a new position in shares of Neurocrine Biosciences during the fourth quarter valued at about $31,000. Benjamin F. Edwards & Company Inc. acquired a new position in shares of Neurocrine Biosciences during the fourth quarter valued at about $33,000. Finally, Headinvest LLC acquired a new position in shares of Neurocrine Biosciences during the third quarter valued at about $28,000. 92.59% of the stock is currently owned by institutional investors and hedge funds.

Neurocrine Biosciences Company Profile

Neurocrine Biosciences, Inc discovers, develops, and markets pharmaceuticals for neurological, neuroendocrine, and neuropsychiatric disorders in the United States and internationally. The company's products include INGREZZA for tardive dyskinesia and chorea associated with Huntington's disease; ALKINDI for adrenal insufficiency; Efmody capsules for classic congenital adrenal hyperplasia; Orilissa tablets for endometriosis; and Oriahnn capsules to treat uterine fibroids.