Barclays Raises Neurocrine Biosciences (NASDAQ:NBIX) Price Target to $169.00

Neurocrine Biosciences (NASDAQ:NBIX) had its target price upped by Barclays from $150.00 to $169.00 in a research report sent to investors on Thursday morning, Benzinga reports. They currently have an overweight rating on the stock.

NBIX has been the subject of several other research reports. Cantor Fitzgerald reissued an overweight rating and issued a $155.00 price target on shares of Neurocrine Biosciences in a report on Wednesday, April 10th. Oppenheimer upped their price target on shares of Neurocrine Biosciences from $200.00 to $216.00 and gave the stock an outperform rating in a research report on Thursday. Wedbush reiterated an outperform rating and issued a $147.00 price objective on shares of Neurocrine Biosciences in a report on Wednesday, April 17th. HC Wainwright boosted their price objective on Neurocrine Biosciences from $150.00 to $160.00 and gave the stock a buy rating in a research note on Thursday. Finally, The Goldman Sachs Group raised their target price on Neurocrine Biosciences from $134.00 to $153.00 and gave the company a buy rating in a research report on Thursday, January 25th. Six investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Neurocrine Biosciences presently has an average rating of Moderate Buy and a consensus price target of $147.88.

Neurocrine Biosciences Trading Up 0.6 %

Shares of Neurocrine Biosciences stock traded up $0.88 during trading hours on Thursday, reaching $140.71. The stock had a trading volume of 616,567 shares, compared to its average volume of 795,508. The stock’s 50 day moving average is $137.37 and its 200 day moving average is $128.88. Neurocrine Biosciences has a twelve month low of $89.04 and a twelve month high of $148.37. The firm has a market capitalization of $14.16 billion, a PE ratio of 38.76 and a beta of 0.28.

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, topping analysts’ consensus estimates of $1.13 by $0.31. The company had revenue of $515.20 million for the quarter, compared to the consensus estimate of $518.52 million. Neurocrine Biosciences had a return on equity of 17.45% and a net margin of 18.65%. Neurocrine Biosciences’s revenue for the quarter was up 25.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.88 earnings per share. As a group, sell-side analysts predict that Neurocrine Biosciences will post 4.78 earnings per share for the current year.

Insider Transactions at Neurocrine Biosciences

In related news, insider David W. Boyer sold 456 shares of the stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $141.96, for a total transaction of $64,733.76. Following the completion of the transaction, the insider now directly owns 4,894 shares of the company’s stock, valued at $694,752.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related 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 transaction of $64,733.76. Following the transaction, the insider now owns 4,894 shares of the company’s stock, valued at $694,752.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Richard F. Pops sold 15,000 shares of the stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $132.47, for a total value of $1,987,050.00. Following the completion of the transaction, the director now owns 29,512 shares of the company’s stock, valued at approximately $3,909,454.64. The disclosure for this sale can be found here. Insiders have sold a total of 181,547 shares of company stock worth $25,039,887 over the last ninety days. 4.30% of the stock is currently owned by company insiders.

Institutional Trading of Neurocrine Biosciences

A number of institutional investors have recently added to or reduced their stakes in NBIX. FCF Advisors LLC purchased a new position in Neurocrine Biosciences in the fourth quarter valued at about $1,157,000. abrdn plc grew its holdings in shares of Neurocrine Biosciences by 2,503.0% in the 4th quarter. abrdn plc now owns 83,633 shares of the company’s stock worth $11,019,000 after acquiring an additional 80,420 shares during the period. Redhawk Wealth Advisors Inc. purchased a new position in Neurocrine Biosciences in the 4th quarter valued at approximately $1,245,000. HealthInvest Partners AB acquired a new position in Neurocrine Biosciences during the fourth quarter worth $1,662,000. Finally, Roman Butler Fullerton & Co. purchased a new stake in Neurocrine Biosciences during the fourth quarter worth $1,256,000. Hedge funds and other institutional investors own 92.59% of the company’s stock.

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.