Neurocrine Biosciences (NASDAQ:NBIX) Price Target Raised to $138.00 at BMO Capital Markets

Neurocrine Biosciences (NASDAQ:NBIX) had its target price upped by equities researchers at BMO Capital Markets from $129.00 to $138.00 in a research report issued on Thursday, Benzinga reports. The firm presently has a “market perform” rating on the stock. BMO Capital Markets’ target price would suggest a potential downside of 3.46% from the stock’s previous close.

Other research analysts have also recently issued reports about the company. Wedbush reaffirmed an “outperform” rating and set a $147.00 price objective on shares of Neurocrine Biosciences in a research report on Wednesday, April 17th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $155.00 price objective on shares of Neurocrine Biosciences in a research report on Wednesday, April 10th. Oppenheimer lifted their price objective on Neurocrine Biosciences from $200.00 to $216.00 and gave the company an “outperform” rating in a research report on Thursday. Mizuho lifted their price objective on Neurocrine Biosciences from $116.00 to $140.00 and gave the company a “neutral” rating in a research report on Thursday, February 8th. Finally, Wells Fargo & Company raised Neurocrine Biosciences from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $140.00 to $170.00 in a research report on Wednesday, April 24th. Six analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Neurocrine Biosciences has an average rating of “Moderate Buy” and a consensus price target of $145.04.

Neurocrine Biosciences Price Performance

Shares of Neurocrine Biosciences stock traded down $0.08 during midday trading on Thursday, reaching $142.95. The company had a trading volume of 209,391 shares, compared to its average volume of 848,583. The stock has a fifty day moving average price of $137.11 and a 200 day moving average price of $128.51. The firm has a market cap of $14.22 billion, a PE ratio of 58.03 and a beta of 0.28. Neurocrine Biosciences has a fifty-two week low of $89.04 and a fifty-two week high of $148.37.

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

Insiders Place Their Bets

In other Neurocrine Biosciences news, insider David W. Boyer sold 456 shares of the company’s stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $141.96, for a total value of $64,733.76. Following the completion of the sale, the insider now directly owns 4,894 shares in the company, valued at approximately $694,752.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, insider Ingrid Delaet sold 200 shares of the company’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $140.00, for a total transaction of $28,000.00. Following the completion of the sale, the insider now directly owns 7,507 shares in the company, valued at approximately $1,050,980. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider David W. Boyer sold 456 shares of the company’s stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $141.96, for a total value of $64,733.76. Following the sale, the insider now owns 4,894 shares of the company’s stock, valued at $694,752.24. The disclosure for this sale can be found here. In 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

Several hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its position in Neurocrine Biosciences by 1.6% during the 4th quarter. Vanguard Group Inc. now owns 9,710,328 shares of the company’s stock valued at $1,279,433,000 after buying an additional 150,485 shares in the last quarter. DSM Capital Partners LLC increased its position in Neurocrine Biosciences by 15.4% during the 3rd quarter. DSM Capital Partners LLC now owns 1,224,017 shares of the company’s stock valued at $137,702,000 after buying an additional 163,747 shares in the last quarter. Brown Advisory Inc. increased its position in Neurocrine Biosciences by 2.2% during the 4th quarter. Brown Advisory Inc. now owns 1,113,413 shares of the company’s stock valued at $146,703,000 after buying an additional 23,831 shares in the last quarter. Braidwell LP increased its position in Neurocrine Biosciences by 3.7% during the 3rd quarter. Braidwell LP now owns 968,024 shares of the company’s stock valued at $108,903,000 after buying an additional 34,662 shares in the last quarter. Finally, Los Angeles Capital Management LLC increased its holdings in shares of Neurocrine Biosciences by 66.0% in the fourth quarter. Los Angeles Capital Management LLC now owns 918,391 shares of the company’s stock valued at $121,007,000 after purchasing an additional 364,986 shares during the period. 92.59% of the stock is owned by institutional investors and hedge funds.

About Neurocrine Biosciences

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.