Neurocrine Biosciences (NASDAQ:NBIX) Given New $176.00 Price Target at JPMorgan Chase & Co.

Neurocrine Biosciences (NASDAQ:NBIX) had its price objective trimmed by JPMorgan Chase & Co. from $177.00 to $176.00 in a research note published on Tuesday,Benzinga reports. The firm currently has an overweight rating on the stock.

NBIX has been the topic of a number of other research reports. Wells Fargo & Company dropped their price target on shares of Neurocrine Biosciences from $180.00 to $175.00 and set an “overweight” rating on the stock in a research report on Friday, February 13th. Needham & Company LLC lowered their target price on shares of Neurocrine Biosciences from $187.00 to $185.00 and set a “buy” rating for the company in a research note on Thursday, February 12th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Neurocrine Biosciences in a research report on Thursday, January 22nd. Piper Sandler lifted their price objective on Neurocrine Biosciences from $175.00 to $179.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 29th. Finally, TD Cowen boosted their price objective on Neurocrine Biosciences from $175.00 to $200.00 and gave the company a “buy” rating in a research note on Friday, December 5th. Sixteen research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $175.84.

Neurocrine Biosciences Stock Performance

NASDAQ NBIX opened at $127.76 on Tuesday. The firm’s fifty day moving average price is $138.98 and its two-hundred day moving average price is $140.43. The stock has a market cap of $12.82 billion, a PE ratio of 27.42, a PEG ratio of 0.57 and a beta of 0.31. Neurocrine Biosciences has a fifty-two week low of $84.23 and a fifty-two week high of $160.18.

Neurocrine Biosciences (NASDAQ:NBIX) last released its quarterly earnings data on Wednesday, February 11th. The company reported $1.88 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.36 by ($0.48). The firm had revenue of $805.50 million during the quarter, compared to analyst estimates of $804.21 million. Neurocrine Biosciences had a net margin of 16.73% and a return on equity of 16.48%. The business’s quarterly revenue was up 28.3% compared to the same quarter last year. During the same period in the prior year, the company earned $1.69 EPS. As a group, sell-side analysts predict that Neurocrine Biosciences will post 4.28 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Kyle Gano sold 36,400 shares of Neurocrine Biosciences stock in a transaction on Friday, January 16th. The stock was sold at an average price of $132.70, for a total transaction of $4,830,280.00. Following the sale, the chief executive officer directly owned 140,407 shares in the company, valued at approximately $18,632,008.90. This trade represents a 20.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Leslie V. Norwalk sold 5,000 shares of the business’s stock in a transaction dated Monday, December 15th. The stock was sold at an average price of $152.23, for a total transaction of $761,150.00. Following the completion of the transaction, the director directly owned 7,429 shares in the company, valued at $1,130,916.67. This trade represents a 40.23% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 61,966 shares of company stock worth $8,625,166 over the last 90 days. 4.30% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. USA Financial Formulas purchased a new position in shares of Neurocrine Biosciences in the fourth quarter valued at $25,000. Geneos Wealth Management Inc. boosted its stake in Neurocrine Biosciences by 143.6% in the 1st quarter. Geneos Wealth Management Inc. now owns 229 shares of the company’s stock worth $25,000 after purchasing an additional 135 shares during the period. Golden State Wealth Management LLC boosted its stake in Neurocrine Biosciences by 120.5% in the 3rd quarter. Golden State Wealth Management LLC now owns 183 shares of the company’s stock worth $26,000 after purchasing an additional 100 shares during the period. Eastern Bank purchased a new position in Neurocrine Biosciences during the 3rd quarter valued at about $27,000. Finally, DJE Kapital AG bought a new stake in shares of Neurocrine Biosciences during the fourth quarter valued at about $28,000. 92.59% of the stock is owned by institutional investors.

About Neurocrine Biosciences

Neurocrine Biosciences (NASDAQ: NBIX) is a biopharmaceutical company based in San Diego, California, focused on developing treatments for neurological, endocrine and neuropsychiatric disorders. Since its founding in 1992, the company has pursued a research‐driven strategy aimed at addressing unmet medical needs in movement disorders, reproductive health and central nervous system conditions. Neurocrine’s operations encompass drug discovery, clinical development and commercialization activities.

The company’s lead marketed product, Ingrezza™ (valbenazine), is indicated for the treatment of tardive dyskinesia, a movement disorder associated with long-term antipsychotic use.