Neurocrine Biosciences (NASDAQ:NBIX) Given New $169.00 Price Target at Barclays

Neurocrine Biosciences (NASDAQ:NBIX) had its price objective lifted by Barclays from $150.00 to $169.00 in a report published on Thursday morning, Benzinga reports. Barclays currently has an overweight rating on the stock.

Several other brokerages also recently weighed in on NBIX. StockNews.com raised shares of Neurocrine Biosciences from a buy rating to a strong-buy rating in a research note on Thursday, February 8th. Wedbush reissued an outperform rating and set a $147.00 price objective on shares of Neurocrine Biosciences in a research note on Wednesday, April 17th. Oppenheimer lifted their target price on shares of Neurocrine Biosciences from $200.00 to $216.00 and gave the stock an outperform rating in a research note on Thursday. Citigroup cut their price target on Neurocrine Biosciences from $141.00 to $140.00 and set a neutral rating for the company in a report on Thursday, February 8th. Finally, Wells Fargo & Company upgraded Neurocrine Biosciences from an equal weight rating to an overweight rating and raised their price objective for the stock from $140.00 to $170.00 in a report on Wednesday, April 24th. Six research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of Moderate Buy and an average price target of $147.88.

Neurocrine Biosciences Trading Up 0.6 %

Shares of NBIX opened at $140.71 on Thursday. The company has a 50-day moving average of $137.37 and a two-hundred day moving average of $129.00. The stock has a market cap of $14.16 billion, a P/E 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 announced its earnings results on Wednesday, February 7th. The company reported $1.44 EPS for the quarter, beating analysts’ consensus estimates of $1.13 by $0.31. Neurocrine Biosciences had a return on equity of 17.45% and a net margin of 18.65%. The firm had revenue of $515.20 million for the quarter, compared to analysts’ expectations of $518.52 million. During the same quarter in the prior year, the firm earned $0.88 EPS. Neurocrine Biosciences’s quarterly revenue was up 25.0% on a year-over-year basis. As a group, analysts forecast that Neurocrine Biosciences will post 4.78 EPS for the current fiscal year.

Insider Transactions at Neurocrine Biosciences

In related news, insider Eric Benevich sold 75,000 shares of Neurocrine Biosciences stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $139.38, for a total transaction of $10,453,500.00. Following the transaction, the insider now owns 40,778 shares in the company, valued at approximately $5,683,637.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider David W. Boyer sold 1,328 shares of the company’s stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $135.41, for a total value of $179,824.48. Following the completion of the sale, the insider now owns 4,895 shares of the company’s stock, valued at $662,831.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Eric Benevich sold 75,000 shares of the firm’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $139.38, for a total value of $10,453,500.00. Following the sale, the insider now owns 40,778 shares in the company, valued at $5,683,637.64. The disclosure for this sale can be found here. Insiders sold 181,547 shares of company stock valued at $25,039,887 over the last 90 days. Corporate insiders own 4.30% of the company’s stock.

Hedge Funds Weigh In On Neurocrine Biosciences

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. First Horizon Advisors Inc. lifted its position in shares of Neurocrine Biosciences by 10.5% during the fourth quarter. First Horizon Advisors Inc. now owns 782 shares of the company’s stock worth $103,000 after purchasing an additional 74 shares in the last quarter. Quadrant Capital Group LLC increased its stake 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 during the period. Envestnet Portfolio Solutions Inc. lifted its holdings in Neurocrine Biosciences by 3.2% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 2,530 shares of the company’s stock worth $333,000 after buying an additional 78 shares in the last quarter. Sunbelt Securities Inc. lifted its holdings in Neurocrine Biosciences by 34.3% in the 3rd quarter. Sunbelt Securities Inc. now owns 325 shares of the company’s stock worth $37,000 after buying an additional 83 shares in the last quarter. Finally, Commonwealth Equity Services LLC boosted 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 buying an additional 84 shares during the last quarter. 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.