Neurocrine Biosciences (NASDAQ:NBIX) Price Target Raised to $145.00

Neurocrine Biosciences (NASDAQ:NBIX) had its price objective increased by JPMorgan Chase & Co. from $140.00 to $145.00 in a research report report published on Thursday morning,Benzinga reports. The firm currently has a neutral rating on the stock.

NBIX has been the topic of a number of other reports. Canaccord Genuity Group upped their target price on Neurocrine Biosciences from $158.00 to $160.00 and gave the stock a “buy” rating in a research note on Tuesday, May 6th. Needham & Company LLC upped their target price on Neurocrine Biosciences from $138.00 to $139.00 and gave the stock a “buy” rating in a research note on Tuesday, May 6th. UBS Group upped their target price on Neurocrine Biosciences from $152.00 to $174.00 and gave the stock a “buy” rating in a research note on Wednesday, July 9th. The Goldman Sachs Group assumed coverage on Neurocrine Biosciences in a research report on Thursday, July 10th. They set a “buy” rating and a $182.00 price objective on the stock. Finally, Royal Bank Of Canada reduced their price objective on Neurocrine Biosciences from $146.00 to $144.00 and set an “outperform” rating on the stock in a research report on Thursday. Three investment analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Neurocrine Biosciences presently has an average rating of “Moderate Buy” and a consensus target price of $160.90.

Neurocrine Biosciences Stock Up 0.5%

Shares of NASDAQ NBIX opened at $128.91 on Thursday. The firm has a market capitalization of $12.79 billion, a P/E ratio of 38.14, a P/E/G ratio of 1.32 and a beta of 0.25. The stock’s 50-day simple moving average is $128.26 and its two-hundred day simple moving average is $120.88. Neurocrine Biosciences has a twelve month low of $84.23 and a twelve month high of $157.40.

Neurocrine Biosciences (NASDAQ:NBIX) last announced its earnings results on Wednesday, July 30th. The company reported $1.06 earnings per share for the quarter, topping analysts’ consensus estimates of $0.98 by $0.08. The business had revenue of $687.50 million for the quarter, compared to analyst estimates of $653.09 million. Neurocrine Biosciences had a return on equity of 13.22% and a net margin of 13.88%. The company’s quarterly revenue was up 16.5% compared to the same quarter last year. During the same period in the prior year, the company earned $1.63 EPS. As a group, research analysts anticipate that Neurocrine Biosciences will post 4.28 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director William H. Rastetter sold 30,000 shares of the firm’s stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $110.20, for a total transaction of $3,306,000.00. Following the transaction, the director directly owned 37,491 shares in the company, valued at $4,131,508.20. This trade represents a 44.45% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kevin Charles Gorman sold 9,613 shares of the stock in a transaction that occurred on Tuesday, May 27th. The stock was 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 owned 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 disclosure for this sale can be found here. Insiders have sold 120,251 shares of company stock valued at $14,978,602 in the last 90 days. 4.80% of the stock is owned by insiders.

Institutional Investors Weigh In On Neurocrine Biosciences

Several institutional investors and hedge funds have recently bought and sold shares of NBIX. LPL Financial LLC lifted its holdings in Neurocrine Biosciences by 27.8% in the 4th quarter. LPL Financial LLC now owns 16,754 shares of the company’s stock worth $2,287,000 after buying an additional 3,643 shares during the period. Norges Bank purchased a new stake in Neurocrine Biosciences in the 4th quarter worth approximately $44,403,000. Allstate Corp purchased a new stake in Neurocrine Biosciences in the 4th quarter worth approximately $397,000. Wellington Management Group LLP lifted its holdings in Neurocrine Biosciences by 102.9% in the 4th quarter. Wellington Management Group LLP now owns 1,457,425 shares of the company’s stock worth $198,939,000 after buying an additional 739,199 shares during the period. Finally, B. Metzler seel. Sohn & Co. AG lifted its holdings in Neurocrine Biosciences by 5.1% in the 4th quarter. B. Metzler seel. Sohn & Co. AG now owns 5,044 shares of the company’s stock worth $689,000 after buying an additional 245 shares during the period. 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.