Neurocrine Biosciences (NASDAQ:NBIX) Stock Price Expected to Rise, Needham & Company LLC Analyst Says

Neurocrine Biosciences (NASDAQ:NBIX) had its target price raised by analysts at Needham & Company LLC from $170.00 to $184.00 in a report released on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Needham & Company LLC’s price target indicates a potential upside of 33.29% from the stock’s current price.

Several other brokerages have also recently issued reports on NBIX. Weiss Ratings reiterated a “hold (c+)” rating on shares of Neurocrine Biosciences in a report on Wednesday, October 8th. Guggenheim increased their target price 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. Morgan Stanley increased their target price on shares of Neurocrine Biosciences from $163.00 to $168.00 and gave the stock an “overweight” rating in a report on Monday, October 20th. Wall Street Zen upgraded shares of Neurocrine Biosciences from a “hold” rating to a “strong-buy” rating in a report on Saturday, August 2nd. Finally, JPMorgan Chase & Co. increased their target price on shares of Neurocrine Biosciences from $140.00 to $145.00 and gave the stock a “neutral” rating in a report on Thursday, July 31st. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus 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. Neurocrine Biosciences has a 52 week low of $84.23 and a 52 week high of $154.61. The company has a fifty day simple moving average of $140.69 and a two-hundred day simple moving average of $129.18. The firm has a market capitalization of $13.69 billion, a P/E ratio of 33.02, a price-to-earnings-growth ratio of 0.94 and a beta of 0.21.

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

Insider Buying and Selling

In other Neurocrine Biosciences news, Director Kevin Charles Gorman sold 106,322 shares of Neurocrine Biosciences stock in a transaction that occurred on Thursday, August 7th. The shares were sold at an average price of $126.41, for a total transaction of $13,440,164.02. Following the completion of the sale, the director directly owned 514,596 shares in the company, valued at approximately $65,050,080.36. The trade was a 17.12% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 4.80% of the company’s stock.

Hedge Funds Weigh In On Neurocrine Biosciences

Several large investors have recently made changes to their positions in the company. Eastern Bank acquired a new position in Neurocrine Biosciences during the third quarter worth $27,000. Geneos Wealth Management Inc. raised its position in Neurocrine Biosciences by 143.6% during the first quarter. Geneos Wealth Management Inc. now owns 229 shares of the company’s stock worth $25,000 after acquiring an additional 135 shares during the period. Quent Capital LLC acquired a new position in Neurocrine Biosciences during the third quarter worth $32,000. WPG Advisers LLC acquired a new position in Neurocrine Biosciences during the first quarter worth $32,000. Finally, Smallwood Wealth Investment Management LLC acquired a new position in Neurocrine Biosciences during the first quarter worth $34,000. 92.59% of the stock is currently owned by institutional investors and hedge funds.

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.