Neurocrine Biosciences (NASDAQ:NBIX) Price Target Raised to $174.00

Neurocrine Biosciences (NASDAQ:NBIX) had its price objective boosted by UBS Group from $152.00 to $174.00 in a report published on Wednesday,Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other equities research analysts have also recently commented on the company. Evercore ISI lowered their price target on Neurocrine Biosciences from $190.00 to $185.00 and set an “outperform” rating for the company in a research note on Thursday, April 24th. HC Wainwright dropped their price target on shares of Neurocrine Biosciences from $185.00 to $168.00 and set a “buy” rating on the stock in a research note on Tuesday, April 22nd. Guggenheim raised their price target on shares of Neurocrine Biosciences from $155.00 to $165.00 and gave the company a “buy” rating in a report on Tuesday, May 6th. JPMorgan Chase & Co. upped their price objective on shares of Neurocrine Biosciences from $183.00 to $184.00 and gave the stock an “overweight” rating in a report on Wednesday, March 26th. Finally, Wall Street Zen lowered Neurocrine Biosciences from a “strong-buy” rating to a “buy” rating in a report on Thursday, March 20th. Three analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the stock. According to MarketBeat, Neurocrine Biosciences has a consensus rating of “Moderate Buy” and a consensus target price of $163.91.

Neurocrine Biosciences Stock Performance

Neurocrine Biosciences stock opened at $133.46 on Wednesday. Neurocrine Biosciences has a twelve month low of $84.23 and a twelve month high of $157.98. The firm has a market cap of $13.21 billion, a PE ratio of 45.24, a P/E/G ratio of 1.38 and a beta of 0.24. The firm’s 50 day moving average price is $124.19 and its two-hundred day moving average price is $121.63.

Neurocrine Biosciences (NASDAQ:NBIX) last posted its quarterly earnings results on Monday, May 5th. The company reported $0.08 earnings per share for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.62). Neurocrine Biosciences had a return on equity of 11.81% and a net margin of 12.68%. The company had revenue of $572.60 million during the quarter, compared to analyst estimates of $587.06 million. During the same period last year, the company posted $1.20 earnings per share. The company’s revenue was up 11.1% compared to the same quarter last year. Equities analysts anticipate that Neurocrine Biosciences will post 4.28 EPS for the current fiscal year.

Insider Transactions at Neurocrine Biosciences

In related news, Director William H. Rastetter sold 30,000 shares of the company’s stock in a transaction on Monday, May 5th. The stock was sold at an average price of $110.20, for a total value of $3,306,000.00. Following the completion of the transaction, the director directly owned 37,491 shares in the company, valued at approximately $4,131,508.20. This represents a 44.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Jude Onyia sold 59,819 shares of Neurocrine Biosciences stock in a transaction on Wednesday, July 9th. The stock was sold at an average price of $130.46, for a total transaction of $7,803,986.74. Following the sale, the insider owned 18,289 shares in the company, valued at $2,385,982.94. This represents a 76.58% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 120,251 shares of company stock valued at $14,978,602. 4.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Neurocrine Biosciences

A number of hedge funds have recently made changes to their positions in NBIX. Vanguard Group Inc. raised its position in Neurocrine Biosciences by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 10,119,641 shares of the company’s stock worth $1,381,331,000 after purchasing an additional 122,681 shares in the last quarter. Dodge & Cox grew its stake in shares of Neurocrine Biosciences by 83.5% in the 1st quarter. Dodge & Cox now owns 5,534,624 shares of the company’s stock valued at $612,129,000 after purchasing an additional 2,518,199 shares during the period. Wellington Management Group LLP raised its holdings in shares of Neurocrine Biosciences by 44.0% in the 1st quarter. Wellington Management Group LLP now owns 2,097,981 shares of the company’s stock worth $232,037,000 after buying an additional 640,556 shares in the last quarter. AQR Capital Management LLC lifted its position in shares of Neurocrine Biosciences by 2.9% during the 4th quarter. AQR Capital Management LLC now owns 1,896,891 shares of the company’s stock worth $258,926,000 after buying an additional 53,610 shares during the period. Finally, Geode Capital Management LLC boosted its stake in Neurocrine Biosciences by 0.9% in the 4th quarter. Geode Capital Management LLC now owns 1,875,062 shares of the company’s stock valued at $255,523,000 after buying an additional 15,830 shares in the last quarter. Institutional investors and hedge funds 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.