Neurocrine Biosciences (NASDAQ:NBIX) Price Target Raised to $164.00

Neurocrine Biosciences (NASDAQ:NBIX) had its price objective increased by Canaccord Genuity Group from $154.00 to $164.00 in a research note published on Thursday morning, Benzinga reports. Canaccord Genuity Group currently has a buy rating on the stock.

Several other research analysts have also recently weighed in on NBIX. Mizuho boosted their price objective on Neurocrine Biosciences from $116.00 to $140.00 and gave the stock a neutral rating in a research report on Thursday, February 8th. Citigroup cut their price target on shares of Neurocrine Biosciences from $141.00 to $140.00 and set a neutral rating on the stock in a report on Thursday, February 8th. Guggenheim raised their price objective on shares of Neurocrine Biosciences from $164.00 to $170.00 and gave the stock a buy rating in a report on Thursday. JPMorgan Chase & Co. boosted their target price on shares of Neurocrine Biosciences from $148.00 to $158.00 and gave the company an overweight rating in a research note on Wednesday, March 20th. Finally, HC Wainwright raised their price target on shares of Neurocrine Biosciences from $150.00 to $160.00 and gave the stock a buy rating in a research note on Thursday. Six analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average price target of $147.88.

Neurocrine Biosciences Price Performance

Shares of NASDAQ NBIX traded up $0.88 during trading on Thursday, hitting $140.71. The stock had a trading volume of 616,567 shares, compared to its average volume of 795,508. The firm has a fifty day moving average of $137.37 and a two-hundred day moving average of $128.88. The company has a market capitalization of $14.16 billion, a PE ratio of 38.76 and a beta of 0.28. Neurocrine Biosciences has a 12 month low of $89.04 and a 12 month high of $148.37.

Neurocrine Biosciences (NASDAQ:NBIX) last posted 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. Neurocrine Biosciences had a net margin of 18.65% and a return on equity of 17.45%. The firm had revenue of $515.20 million during the quarter, compared to analyst estimates of $518.52 million. During the same quarter last year, the business posted $0.88 EPS. The company’s revenue for the quarter was up 25.0% on a year-over-year basis. On average, equities analysts expect that Neurocrine Biosciences will post 4.78 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Neurocrine Biosciences news, insider Eric Benevich sold 19,818 shares of the firm’s stock in a transaction on Monday, April 15th. The shares were sold at an average price of $133.36, for a total value of $2,642,928.48. Following the completion of the transaction, the insider now directly owns 40,778 shares of the company’s stock, valued at approximately $5,438,154.08. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, insider David W. Boyer sold 1,328 shares of the company’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $135.41, for a total value of $179,824.48. Following the transaction, the insider now directly owns 4,895 shares in the company, valued at $662,831.95. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Eric Benevich sold 19,818 shares of the business’s stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $133.36, for a total transaction of $2,642,928.48. Following the completion of the transaction, the insider now directly owns 40,778 shares of the company’s stock, valued at approximately $5,438,154.08. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 181,547 shares of company stock valued at $25,039,887. Company insiders own 4.30% of the company’s stock.

Institutional Trading of Neurocrine Biosciences

Several institutional investors and hedge funds have recently made changes to their positions in NBIX. Mather Group LLC. bought a new position in Neurocrine Biosciences in the first quarter valued at $26,000. Headinvest LLC purchased a new position in shares of Neurocrine Biosciences in the 3rd quarter worth about $28,000. Lindbrook Capital LLC increased its position in shares of Neurocrine Biosciences by 85.0% during the 4th quarter. Lindbrook Capital LLC now owns 209 shares of the company’s stock valued at $28,000 after purchasing an additional 96 shares during the last quarter. EdgeRock Capital LLC bought a new position in shares of Neurocrine Biosciences during the 4th quarter valued at about $31,000. Finally, Benjamin F. Edwards & Company Inc. purchased a new position in shares of Neurocrine Biosciences during the 4th quarter valued at about $33,000. 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.