Neurocrine Biosciences (NASDAQ:NBIX) Price Target Raised to $179.00 at JPMorgan Chase & Co.

Neurocrine Biosciences (NASDAQ:NBIX) had its price target raised by JPMorgan Chase & Co. from $171.00 to $179.00 in a report issued on Monday,Benzinga reports. The firm currently has an overweight rating on the stock.

A number of other research firms have also recently weighed in on NBIX. The Goldman Sachs Group initiated coverage on Neurocrine Biosciences in a research note on Thursday, July 10th. They issued a “buy” rating and a $182.00 price target on the stock. Needham & Company LLC increased their price objective on Neurocrine Biosciences from $170.00 to $184.00 and gave the company a “buy” rating in a report on Wednesday, October 29th. UBS Group increased their price objective on Neurocrine Biosciences from $188.00 to $195.00 and gave the company a “buy” rating in a report on Thursday, October 9th. Zacks Research upgraded Neurocrine Biosciences from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 15th. Finally, Guggenheim increased their price objective on Neurocrine Biosciences from $165.00 to $175.00 and gave the company a “buy” rating in a report on Friday, August 1st. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $170.26.

Neurocrine Biosciences Price Performance

Shares of NASDAQ NBIX opened at $141.96 on Monday. The stock’s 50-day moving average is $141.01 and its two-hundred day moving average is $130.25. Neurocrine Biosciences has a 1-year low of $84.23 and a 1-year high of $154.61. The company has a market cap of $14.15 billion, a price-to-earnings ratio of 33.96, a price-to-earnings-growth ratio of 0.94 and a beta of 0.21.

Neurocrine Biosciences (NASDAQ:NBIX) last issued its quarterly earnings results on Tuesday, October 28th. The company reported $2.04 earnings per share for the quarter, topping the consensus estimate of $1.58 by $0.46. Neurocrine Biosciences had a return on equity of 15.82% and a net margin of 15.95%.The company 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 business earned $1.81 EPS. Neurocrine Biosciences’s revenue was up 27.8% on a year-over-year basis. Equities research analysts anticipate that Neurocrine Biosciences will post 4.28 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Kevin Charles Gorman sold 106,322 shares of the stock in a transaction that occurred on 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 completion of the transaction, the director directly owned 514,596 shares of the company’s stock, valued at approximately $65,050,080.36. This represents a 17.12% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 4.80% of the company’s stock.

Hedge Funds Weigh In On Neurocrine Biosciences

Large investors have recently modified their holdings of the business. Geneos Wealth Management Inc. raised 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 buying an additional 135 shares in the last quarter. Golden State Wealth Management LLC raised its stake in shares of Neurocrine Biosciences by 120.5% during the 3rd quarter. Golden State Wealth Management LLC now owns 183 shares of the company’s stock worth $26,000 after buying an additional 100 shares in the last quarter. Eastern Bank purchased a new position in shares of Neurocrine Biosciences during the 3rd quarter worth approximately $27,000. WPG Advisers LLC purchased a new position in shares of Neurocrine Biosciences during the 1st quarter worth approximately $32,000. Finally, Quent Capital LLC purchased a new position in Neurocrine Biosciences in the 3rd quarter valued at approximately $32,000. 92.59% of the stock is owned by hedge funds and other 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.