Stifel Nicolaus Forecasts Strong Price Appreciation for Neurocrine Biosciences (NASDAQ:NBIX) Stock

Neurocrine Biosciences (NASDAQ:NBIX) had its price target raised by equities research analysts at Stifel Nicolaus from $174.00 to $183.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Stifel Nicolaus’ target price points to a potential upside of 32.57% from the company’s previous close.

Other equities research analysts also recently issued research reports about the stock. Citigroup assumed coverage on shares of Neurocrine Biosciences in a research report on Tuesday, October 21st. They set a “buy” rating and a $175.00 price target for the company. Guggenheim raised their price target on shares of Neurocrine Biosciences from $165.00 to $175.00 and gave the company a “buy” rating in a research report on Friday, August 1st. Royal Bank Of Canada raised their price target on shares of Neurocrine Biosciences from $144.00 to $149.00 and gave the company an “outperform” rating in a research report on Friday, September 5th. Weiss Ratings reissued a “hold (c+)” rating on shares of Neurocrine Biosciences in a research report on Wednesday, October 8th. Finally, Truist Financial assumed coverage on shares of Neurocrine Biosciences in a research report on Monday, July 21st. They set a “buy” rating and a $163.00 price target for the company. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $168.47.

Neurocrine Biosciences Stock Up 0.0%

Shares of NBIX opened at $138.04 on Wednesday. The company 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. The firm has a 50 day moving average of $140.69 and a 200 day moving average of $129.18. Neurocrine Biosciences has a twelve month low of $84.23 and a twelve month high of $154.61.

Neurocrine Biosciences (NASDAQ:NBIX) last announced its quarterly 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. The company had revenue of $794.90 million during the quarter, compared to the consensus estimate of $746.61 million. Neurocrine Biosciences had a net margin of 15.95% and a return on equity of 15.82%. The firm’s quarterly revenue was up 27.8% compared to the same quarter last year. During the same quarter last year, the firm earned $1.81 earnings per share. On average, sell-side analysts expect that Neurocrine Biosciences will post 4.28 EPS for the current year.

Insider Buying and Selling at Neurocrine Biosciences

In other news, Director Kevin Charles Gorman sold 106,322 shares of Neurocrine Biosciences stock in a transaction 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 transaction, the director owned 514,596 shares in the company, valued at $65,050,080.36. This trade represents a 17.12% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 4.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Geneos Wealth Management Inc. boosted its stake in shares of Neurocrine Biosciences by 143.6% during the 1st 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 last quarter. Eastern Bank purchased a new position in shares of Neurocrine Biosciences during the 3rd quarter worth $27,000. WPG Advisers LLC purchased a new position in shares of Neurocrine Biosciences during the 1st quarter worth $32,000. Quent Capital LLC purchased a new position in shares of Neurocrine Biosciences during the 3rd quarter worth $32,000. Finally, Smallwood Wealth Investment Management LLC purchased a new position in shares of Neurocrine Biosciences during the 1st quarter worth $34,000. 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.