Analysts Set Neurocrine Biosciences, Inc. (NASDAQ:NBIX) Target Price at $162.00

Shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) have been assigned a consensus rating of “Moderate Buy” from the twenty-two research firms that are currently covering the stock, MarketBeat.com reports. Three analysts have rated the stock with a hold recommendation and nineteen have issued a buy recommendation on the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $162.00.

A number of equities research analysts have recently issued reports on the stock. HC Wainwright cut their price objective on shares of Neurocrine Biosciences from $185.00 to $168.00 and set a “buy” rating for the company in a research note on Tuesday, April 22nd. Wedbush reaffirmed an “outperform” rating on shares of Neurocrine Biosciences in a research note on Tuesday, May 6th. Guggenheim upped their price objective on shares of Neurocrine Biosciences from $155.00 to $165.00 and gave the company a “buy” rating in a research note on Tuesday, May 6th. Wall Street Zen cut shares of Neurocrine Biosciences from a “strong-buy” rating to a “buy” rating in a research note on Thursday, March 20th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $145.00 price objective on shares of Neurocrine Biosciences in a research note on Monday, June 2nd.

Insider Transactions at Neurocrine Biosciences

In other news, Director Kevin Charles Gorman sold 9,613 shares of the firm’s stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $120.38, for a total value of $1,157,212.94. Following the completion of the sale, the director now directly owns 514,596 shares of the company’s stock, valued at approximately $61,947,066.48. This trade represents a 1.83% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director William H. Rastetter sold 30,000 shares of Neurocrine Biosciences stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $110.20, for a total transaction of $3,306,000.00. Following the transaction, the director now directly owns 37,491 shares of the company’s stock, valued at approximately $4,131,508.20. This trade represents a 44.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 4.80% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Charles Schwab Investment Management Inc. lifted its position in Neurocrine Biosciences by 2.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 762,557 shares of the company’s stock valued at $104,089,000 after acquiring an additional 15,266 shares during the period. Avantax Advisory Services Inc. lifted its position in Neurocrine Biosciences by 11.4% during the 4th quarter. Avantax Advisory Services Inc. now owns 2,895 shares of the company’s stock valued at $395,000 after acquiring an additional 297 shares during the period. Smartleaf Asset Management LLC lifted its position in Neurocrine Biosciences by 37.2% during the 4th quarter. Smartleaf Asset Management LLC now owns 538 shares of the company’s stock valued at $74,000 after acquiring an additional 146 shares during the period. Corient Private Wealth LLC lifted its position in Neurocrine Biosciences by 64.0% during the 4th quarter. Corient Private Wealth LLC now owns 7,927 shares of the company’s stock valued at $1,082,000 after acquiring an additional 3,094 shares during the period. Finally, Van ECK Associates Corp lifted its position in Neurocrine Biosciences by 11.8% during the 4th quarter. Van ECK Associates Corp now owns 93,406 shares of the company’s stock valued at $12,750,000 after acquiring an additional 9,824 shares during the period. 92.59% of the stock is owned by hedge funds and other institutional investors.

Neurocrine Biosciences Price Performance

NBIX stock opened at $125.00 on Friday. Neurocrine Biosciences has a one year low of $84.23 and a one year high of $157.98. The stock has a market cap of $12.37 billion, a PE ratio of 37.99, a P/E/G ratio of 0.77 and a beta of 0.24. The firm has a 50 day simple moving average of $113.13 and a two-hundred day simple moving average of $121.84.

Neurocrine Biosciences (NASDAQ:NBIX) last released its quarterly earnings results on Monday, May 5th. The company reported $0.08 EPS for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.62). Neurocrine Biosciences had a return on equity of 13.38% and a net margin of 14.49%. The company had revenue of $572.60 million during the quarter, compared to analysts’ expectations of $587.06 million. During the same period in the prior year, the firm earned $1.20 EPS. Neurocrine Biosciences’s quarterly revenue was up 11.1% on a year-over-year basis. On average, research analysts expect that Neurocrine Biosciences will post 4.28 EPS for the current fiscal year.

Neurocrine Biosciences announced that its board has approved a stock buyback program on Friday, February 21st that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the company to purchase up to 4.2% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its stock is undervalued.

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.