Neurocrine Biosciences (NASDAQ:NBIX) Price Target Increased to $173.00 by Analysts at JPMorgan Chase & Co.

Neurocrine Biosciences (NASDAQ:NBIX) had its price target lifted by JPMorgan Chase & Co. from $169.00 to $173.00 in a research report issued on Wednesday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 19.69% from the stock’s previous close.

Several other equities analysts also recently issued reports on the stock. Evercore ISI started coverage on shares of Neurocrine Biosciences in a research note on Tuesday, May 14th. They set an “outperform” rating and a $175.00 price target for the company. Canaccord Genuity Group raised their price target on shares of Neurocrine Biosciences from $154.00 to $164.00 and gave the company a “buy” rating in a research note on Thursday, May 2nd. BMO Capital Markets lifted their target price on shares of Neurocrine Biosciences from $129.00 to $138.00 and gave the stock a “market perform” rating in a research note on Thursday, May 2nd. Needham & Company LLC reissued a “hold” rating on shares of Neurocrine Biosciences in a research note on Wednesday, May 1st. Finally, Barclays lifted their target price on shares of Neurocrine Biosciences from $150.00 to $169.00 and gave the stock an “overweight” rating in a research note on Thursday, May 2nd. Six investment analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $152.58.

Neurocrine Biosciences Trading Up 0.9 %

Neurocrine Biosciences stock traded up $1.24 during mid-day trading on Wednesday, reaching $144.54. The company had a trading volume of 165,807 shares, compared to its average volume of 821,163. The business has a fifty day simple moving average of $137.54 and a 200 day simple moving average of $136.58. The company has a market cap of $14.55 billion, a P/E ratio of 39.71 and a beta of 0.37. Neurocrine Biosciences has a fifty-two week low of $94.16 and a fifty-two week high of $148.37.

Neurocrine Biosciences (NASDAQ:NBIX) last released its quarterly earnings results on Wednesday, May 1st. The company reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.04 by ($0.62). The business had revenue of $515.30 million for the quarter, compared to the consensus estimate of $512.21 million. Neurocrine Biosciences had a net margin of 18.65% and a return on equity of 17.45%. Research analysts forecast that Neurocrine Biosciences will post 4.22 EPS for the current year.

Insider Transactions at Neurocrine Biosciences

In other news, insider Julie Cooke sold 10,000 shares of the business’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $140.19, for a total transaction of $1,401,900.00. Following the completion of the sale, the insider now directly owns 18,202 shares of the company’s stock, valued at $2,551,738.38. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Neurocrine Biosciences news, insider Eric Benevich sold 19,818 shares of the company’s stock in a transaction dated 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 sale, 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 Securities & Exchange Commission, which is available at the SEC website. Also, insider Julie Cooke sold 10,000 shares of the company’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $140.19, for a total transaction of $1,401,900.00. Following the completion of the sale, the insider now directly owns 18,202 shares of the company’s stock, valued at $2,551,738.38. The disclosure for this sale can be found here. Insiders sold a total of 98,697 shares of company stock valued at $13,377,515 over the last three months. Corporate insiders own 4.30% of the company’s stock.

Institutional Investors Weigh In On Neurocrine Biosciences

Institutional investors have recently added to or reduced their stakes in the company. CWM LLC grew its position in shares of Neurocrine Biosciences by 46.8% during the 2nd quarter. CWM LLC now owns 6,849 shares of the company’s stock valued at $943,000 after acquiring an additional 2,185 shares during the period. Park Avenue Securities LLC grew its position in shares of Neurocrine Biosciences by 3.8% during the 2nd quarter. Park Avenue Securities LLC now owns 9,933 shares of the company’s stock valued at $1,367,000 after acquiring an additional 363 shares during the period. Thompson Investment Management Inc. grew its position in shares of Neurocrine Biosciences by 3.6% during the 2nd quarter. Thompson Investment Management Inc. now owns 7,900 shares of the company’s stock valued at $1,088,000 after acquiring an additional 275 shares during the period. DNB Asset Management AS grew its position in shares of Neurocrine Biosciences by 17.2% during the 2nd quarter. DNB Asset Management AS now owns 74,946 shares of the company’s stock valued at $10,318,000 after acquiring an additional 10,998 shares during the period. Finally, Massmutual Trust Co. FSB ADV grew its position in shares of Neurocrine Biosciences by 43.4% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 512 shares of the company’s stock valued at $70,000 after acquiring an additional 155 shares during the period. 92.59% of the stock is owned by institutional investors.

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.