Neurocrine Biosciences (NASDAQ:NBIX) Price Target Raised to $175.00

Neurocrine Biosciences (NASDAQ:NBIX) had its target price hoisted by Mizuho from $146.00 to $175.00 in a report released on Friday,Benzinga reports. The firm currently has a neutral rating on the stock.

A number of other analysts have also recently weighed in on NBIX. Royal Bank Of Canada boosted their price target on Neurocrine Biosciences from $160.00 to $180.00 and gave the stock an “outperform” rating in a research report on Monday, December 8th. Morgan Stanley cut their price objective on Neurocrine Biosciences from $178.00 to $173.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 11th. TD Cowen upped their target price on Neurocrine Biosciences from $175.00 to $200.00 and gave the stock a “buy” rating in a research report on Friday, December 5th. UBS Group increased their price target on Neurocrine Biosciences from $188.00 to $195.00 and gave the company a “buy” rating in a report on Thursday, October 9th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Neurocrine Biosciences in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, Neurocrine Biosciences currently has a consensus rating of “Moderate Buy” and an average target price of $173.33.

Neurocrine Biosciences Stock Down 1.3%

NBIX stock opened at $152.80 on Friday. The firm has a 50 day moving average of $145.35 and a two-hundred day moving average of $137.34. Neurocrine Biosciences has a 12 month low of $84.23 and a 12 month high of $160.18. The company has a market capitalization of $15.24 billion, a price-to-earnings ratio of 36.56, a P/E/G ratio of 1.00 and a beta of 0.27.

Neurocrine Biosciences (NASDAQ:NBIX) last released its quarterly earnings results on Tuesday, October 28th. The company reported $2.17 earnings per share for the quarter, beating analysts’ consensus estimates of $1.58 by $0.59. The business had revenue of $794.90 million for 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%. Neurocrine Biosciences’s revenue for the quarter was up 27.8% on a year-over-year basis. During the same quarter last year, the firm earned $1.81 EPS. On average, research analysts expect that Neurocrine Biosciences will post 4.28 EPS for the current fiscal year.

Insider Activity at Neurocrine Biosciences

In related news, Director William H. Rastetter sold 18,000 shares of the business’s stock in a transaction on Wednesday, November 5th. The shares were sold at an average price of $151.82, for a total transaction of $2,732,760.00. Following the transaction, the director owned 40,360 shares of the company’s stock, valued at approximately $6,127,455.20. The trade was a 30.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director George J. Morrow sold 15,000 shares of the company’s stock in a transaction on Tuesday, November 25th. The shares were sold at an average price of $143.37, for a total transaction of $2,150,550.00. Following the transaction, the director owned 7,068 shares of the company’s stock, valued at approximately $1,013,339.16. The trade was a 67.97% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 37,676 shares of company stock worth $5,624,529. Insiders own 4.30% of the company’s stock.

Hedge Funds Weigh In On Neurocrine Biosciences

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Tudor Investment Corp ET AL raised its holdings in Neurocrine Biosciences by 805.3% in the 3rd quarter. Tudor Investment Corp ET AL now owns 26,860 shares of the company’s stock valued at $3,771,000 after acquiring an additional 23,893 shares in the last quarter. Allworth Financial LP increased its position in shares of Neurocrine Biosciences by 68.1% during the third quarter. Allworth Financial LP now owns 5,009 shares of the company’s stock valued at $703,000 after purchasing an additional 2,029 shares during the period. IFP Advisors Inc raised its stake in shares of Neurocrine Biosciences by 14.0% in the third quarter. IFP Advisors Inc now owns 2,475 shares of the company’s stock valued at $347,000 after purchasing an additional 303 shares in the last quarter. Swiss Life Asset Management Ltd raised its stake in shares of Neurocrine Biosciences by 31.9% in the third quarter. Swiss Life Asset Management Ltd now owns 17,767 shares of the company’s stock valued at $2,494,000 after purchasing an additional 4,293 shares in the last quarter. Finally, CIBC Private Wealth Group LLC lifted its position in Neurocrine Biosciences by 17,250.0% in the third quarter. CIBC Private Wealth Group LLC now owns 7,981 shares of the company’s stock worth $1,120,000 after purchasing an additional 7,935 shares during the period. 92.59% of the stock is currently owned by institutional investors.

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.