Neurocrine Biosciences (NASDAQ:NBIX) Price Target Increased to $180.00 by Analysts at Guggenheim

Neurocrine Biosciences (NASDAQ:NBIX) had its price target boosted by Guggenheim from $170.00 to $180.00 in a report issued on Friday, Benzinga reports. Guggenheim currently has a buy rating on the stock.

A number of other research firms also recently commented on NBIX. Barclays increased their price objective on shares of Neurocrine Biosciences from $169.00 to $180.00 and gave the company an overweight rating in a report on Friday. Evercore ISI assumed coverage on Neurocrine Biosciences in a research note on Tuesday, May 14th. They set an outperform rating and a $175.00 price objective on the stock. Oppenheimer upped their target price on Neurocrine Biosciences from $216.00 to $219.00 and gave the company an outperform rating in a report on Friday. BMO Capital Markets lifted their price target on Neurocrine Biosciences from $129.00 to $138.00 and gave the stock a market perform rating in a report on Thursday, May 2nd. Finally, UBS Group raised their price objective on shares of Neurocrine Biosciences from $174.00 to $193.00 and gave the stock a buy rating in a research report on Tuesday, May 28th. Six research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average target price of $157.16.

Neurocrine Biosciences Price Performance

NASDAQ:NBIX opened at $153.14 on Friday. The business has a 50 day simple moving average of $139.82 and a 200-day simple moving average of $138.41. The firm has a market capitalization of $15.41 billion, a price-to-earnings ratio of 42.19 and a beta of 0.37. Neurocrine Biosciences has a 1 year low of $100.52 and a 1 year high of $157.98.

Neurocrine Biosciences (NASDAQ:NBIX) last issued its earnings results on Wednesday, May 1st. The company reported $0.42 EPS for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.62). The business had revenue of $515.30 million during the quarter, compared to analyst estimates of $512.21 million. Neurocrine Biosciences had a net margin of 16.00% and a return on equity of 14.86%. As a group, analysts expect that Neurocrine Biosciences will post 4.22 earnings per share for the current fiscal year.

Insider Activity at Neurocrine Biosciences

In other news, insider Julie Cooke sold 900 shares of the business’s stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $150.04, for a total transaction of $135,036.00. Following the completion of the transaction, the insider now directly owns 18,202 shares of the company’s stock, valued at $2,731,028.08. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, insider Julie Cooke sold 900 shares of the firm’s stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $150.04, for a total value of $135,036.00. Following the sale, the insider now directly owns 18,202 shares in the company, valued at approximately $2,731,028.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Gary A. Lyons sold 930 shares of the business’s stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $150.03, for a total transaction of $139,527.90. Following the transaction, the director now owns 119,047 shares of the company’s stock, valued at approximately $17,860,621.41. The disclosure for this sale can be found here. Over the last three months, insiders sold 80,709 shares of company stock worth $11,009,150. Company insiders own 4.30% of the company’s stock.

Institutional Investors Weigh In On Neurocrine Biosciences

Several hedge funds and other institutional investors have recently made changes to their positions in NBIX. RFP Financial Group LLC raised its holdings in Neurocrine Biosciences by 346.5% during the first quarter. RFP Financial Group LLC now owns 192 shares of the company’s stock worth $26,000 after purchasing an additional 149 shares in the last quarter. Mather Group LLC. purchased a new stake in Neurocrine Biosciences in the first quarter valued at $26,000. Lindbrook Capital LLC boosted its stake in Neurocrine Biosciences by 85.0% in the fourth quarter. Lindbrook Capital LLC now owns 209 shares of the company’s stock valued at $28,000 after acquiring an additional 96 shares in the last quarter. Innealta Capital LLC purchased a new position in shares of Neurocrine Biosciences during the second quarter worth about $30,000. Finally, EdgeRock Capital LLC acquired a new stake in shares of Neurocrine Biosciences during the fourth quarter worth about $31,000. Institutional investors and hedge funds own 92.59% of the company’s stock.

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.