Citigroup Increases Neurocrine Biosciences (NASDAQ:NBIX) Price Target to $203.00

Neurocrine Biosciences (NASDAQ:NBIX) had its target price boosted by equities researchers at Citigroup from $175.00 to $203.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the stock. Citigroup’s target price suggests a potential upside of 47.06% from the stock’s previous close.

Other equities analysts also recently issued research reports about the company. Truist Financial started coverage on Neurocrine Biosciences in a research note on Monday, July 21st. They issued a “buy” rating and a $163.00 price objective on the stock. JPMorgan Chase & Co. increased their target price on Neurocrine Biosciences from $140.00 to $145.00 and gave the stock a “neutral” rating in a research report on Thursday, July 31st. UBS Group upped their price target on shares of Neurocrine Biosciences from $188.00 to $195.00 and gave the stock a “buy” rating in a report on Thursday, October 9th. Guggenheim upped their price target on shares of Neurocrine Biosciences from $165.00 to $175.00 and gave the stock a “buy” rating in a report on Friday, August 1st. Finally, The Goldman Sachs Group started coverage on shares of Neurocrine Biosciences in a report on Thursday, July 10th. They issued a “buy” rating and a $182.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $168.47.

Neurocrine Biosciences Stock Up 0.0%

NBIX stock opened at $138.04 on Wednesday. The firm has a market cap of $13.69 billion, a PE ratio of 33.02, a P/E/G ratio of 0.94 and a beta of 0.21. The business has a 50 day moving average of $140.69 and a 200-day moving average of $129.18. Neurocrine Biosciences has a 12-month low of $84.23 and a 12-month high of $154.61.

Neurocrine Biosciences (NASDAQ:NBIX) last released its earnings results on Tuesday, October 28th. The company reported $2.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.58 by $0.46. The company had revenue of $794.90 million during the quarter, compared to analyst estimates of $746.61 million. Neurocrine Biosciences had a return on equity of 15.82% and a net margin of 15.95%.Neurocrine Biosciences’s quarterly revenue was up 27.8% on a year-over-year basis. During the same period in the prior year, the company posted $1.81 earnings per share. On average, research analysts expect that Neurocrine Biosciences will post 4.28 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Kevin Charles Gorman sold 106,322 shares of the firm’s stock in a transaction dated Thursday, August 7th. The stock was sold at an average price of $126.41, for a total transaction of $13,440,164.02. Following the transaction, the director directly owned 514,596 shares of the company’s stock, valued at approximately $65,050,080.36. This trade represents a 17.12% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 4.80% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Y Intercept Hong Kong Ltd bought a new stake in shares of Neurocrine Biosciences in the first quarter worth about $1,460,000. Financiere des Professionnels Fonds d investissement inc. bought a new stake in shares of Neurocrine Biosciences in the second quarter worth about $696,000. Wealth Enhancement Advisory Services LLC grew its stake in shares of Neurocrine Biosciences by 229.1% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 19,107 shares of the company’s stock worth $2,467,000 after purchasing an additional 13,301 shares during the last quarter. Golden State Wealth Management LLC grew its stake in shares of Neurocrine Biosciences by 116.9% in the first quarter. Golden State Wealth Management LLC now owns 397 shares of the company’s stock worth $44,000 after purchasing an additional 214 shares during the last quarter. Finally, Integrated Wealth Concepts LLC grew its stake in shares of Neurocrine Biosciences by 167.2% in the first quarter. Integrated Wealth Concepts LLC now owns 7,233 shares of the company’s stock worth $800,000 after purchasing an additional 4,526 shares during the last quarter. 92.59% of the stock is owned by institutional investors.

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.