Neurocrine Biosciences (NASDAQ:NBIX) PT Raised to $181.00 at JPMorgan Chase & Co.

Neurocrine Biosciences (NASDAQ:NBIX) had its price target boosted by JPMorgan Chase & Co. from $173.00 to $181.00 in a research report sent to investors on Wednesday morning, Benzinga reports. They currently have an overweight rating on the stock.

Several other brokerages also recently commented on NBIX. Wells Fargo & Company upgraded Neurocrine Biosciences from an equal weight rating to an overweight rating and increased their price target for the company from $140.00 to $170.00 in a report on Wednesday, April 24th. Wedbush reiterated an outperform rating and issued a $152.00 target price on shares of Neurocrine Biosciences in a report on Wednesday, May 29th. Royal Bank of Canada boosted their target price on shares of Neurocrine Biosciences from $136.00 to $143.00 and gave the stock a sector perform rating in a research report on Friday, August 2nd. Morgan Stanley lifted their price objective on Neurocrine Biosciences from $160.00 to $170.00 and gave the stock an overweight rating in a research note on Friday, July 12th. Finally, Guggenheim raised their target price on Neurocrine Biosciences from $170.00 to $180.00 and gave the company a buy rating in a report on Friday, August 2nd. Six analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of Moderate Buy and an average price target of $158.68.

Neurocrine Biosciences Price Performance

Shares of NBIX stock traded up $0.59 on Wednesday, hitting $147.32. The company’s stock had a trading volume of 684,274 shares, compared to its average volume of 824,338. The stock has a market capitalization of $14.83 billion, a price-to-earnings ratio of 40.58 and a beta of 0.37. Neurocrine Biosciences has a fifty-two week low of $101.93 and a fifty-two week high of $157.98. The firm’s fifty day moving average price is $140.72 and its 200-day moving average price is $138.74.

Neurocrine Biosciences (NASDAQ:NBIX) last announced its quarterly earnings results on Thursday, August 1st. The company reported $0.63 earnings per share for the quarter, missing analysts’ consensus estimates of $1.15 by ($0.52). The company had revenue of $590.20 million during the quarter, compared to analyst estimates of $545.98 million. Neurocrine Biosciences had a return on equity of 14.86% and a net margin of 16.00%. Neurocrine Biosciences’s quarterly revenue was up 30.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.95 EPS. Analysts predict that Neurocrine Biosciences will post 4.22 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Gary A. Lyons sold 12,500 shares of the company’s stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $135.63, for a total value of $1,695,375.00. Following the sale, the director now directly owns 116,947 shares in the company, valued at approximately $15,861,521.61. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other Neurocrine Biosciences news, Director Gary A. Lyons sold 12,500 shares of Neurocrine Biosciences stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $135.63, for a total transaction of $1,695,375.00. Following the completion of the transaction, the director now directly owns 116,947 shares of the company’s stock, valued at $15,861,521.61. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Julie Cooke sold 12,632 shares of the business’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $153.26, for a total transaction of $1,935,980.32. Following the completion of the sale, the insider now owns 18,202 shares in the company, valued at approximately $2,789,638.52. The disclosure for this sale can be found here. Insiders sold a total of 93,341 shares of company stock worth $12,947,083 over the last quarter. Company insiders own 4.30% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of NBIX. First Horizon Advisors Inc. raised its position in Neurocrine Biosciences by 10.5% in the 4th quarter. First Horizon Advisors Inc. now owns 782 shares of the company’s stock valued at $103,000 after purchasing an additional 74 shares during the last quarter. Quadrant Capital Group LLC lifted its position in Neurocrine Biosciences by 3.9% during the 4th quarter. Quadrant Capital Group LLC now owns 2,075 shares of the company’s stock worth $273,000 after buying an additional 78 shares in the last quarter. Envestnet Portfolio Solutions Inc. grew its holdings in Neurocrine Biosciences by 3.2% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 2,530 shares of the company’s stock worth $333,000 after acquiring an additional 78 shares during the last quarter. Commonwealth Equity Services LLC increased its position in Neurocrine Biosciences by 0.6% in the 1st quarter. Commonwealth Equity Services LLC now owns 13,941 shares of the company’s stock valued at $1,923,000 after acquiring an additional 84 shares in the last quarter. Finally, Balentine LLC raised its stake in shares of Neurocrine Biosciences by 4.0% in the fourth quarter. Balentine LLC now owns 2,316 shares of the company’s stock worth $305,000 after acquiring an additional 89 shares during the last quarter. 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.