Neurocrine Biosciences (NASDAQ:NBIX) Price Target Raised to $177.00

Neurocrine Biosciences (NASDAQ:NBIX) had its price objective upped by JPMorgan Chase & Co. from $176.00 to $177.00 in a research report released on Thursday morning,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

NBIX has been the topic of several other reports. Truist Financial reduced their price objective on Neurocrine Biosciences from $169.00 to $140.00 and set a “buy” rating on the stock in a research note on Tuesday, February 17th. Weiss Ratings restated a “hold (c+)” rating on shares of Neurocrine Biosciences in a report on Thursday, January 22nd. Stifel Nicolaus increased their price target on Neurocrine Biosciences from $183.00 to $188.00 and gave the company a “buy” rating in a research report on Thursday, December 11th. Citigroup lifted their price objective on Neurocrine Biosciences from $203.00 to $204.00 and gave the company a “buy” rating in a research note on Thursday, February 12th. Finally, BMO Capital Markets lowered their price objective on Neurocrine Biosciences from $147.00 to $140.00 and set a “market perform” rating for the company in a research report on Thursday, February 12th. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Neurocrine Biosciences has a consensus rating of “Moderate Buy” and a consensus target price of $175.10.

Neurocrine Biosciences Stock Up 1.6%

Shares of NBIX opened at $129.78 on Thursday. The company has a market cap of $13.02 billion, a P/E ratio of 27.85, a PEG ratio of 0.68 and a beta of 0.32. Neurocrine Biosciences has a fifty-two week low of $84.23 and a fifty-two week high of $160.18. The firm’s 50 day moving average price is $133.08 and its 200 day moving average price is $140.27.

Neurocrine Biosciences (NASDAQ:NBIX) last issued its quarterly earnings results on Wednesday, February 11th. The company reported $1.88 EPS for the quarter, missing the consensus estimate of $2.36 by ($0.48). The business had revenue of $805.50 million during the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same period in the prior year, the business earned $1.69 EPS. Research analysts forecast that Neurocrine Biosciences will post 4.28 earnings per share for the current year.

Insiders Place Their Bets

In other Neurocrine Biosciences news, CEO Kyle Gano sold 36,400 shares of the firm’s stock in a transaction on Friday, January 16th. The stock was sold at an average price of $132.70, for a total value of $4,830,280.00. Following the sale, the chief executive officer directly owned 140,407 shares in the company, valued at $18,632,008.90. This trade represents a 20.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Leslie V. Norwalk sold 1,190 shares of Neurocrine Biosciences stock in a transaction dated Tuesday, December 16th. The stock was sold at an average price of $155.09, for a total value of $184,557.10. Following the sale, the director directly owned 6,239 shares of the company’s stock, valued at $967,606.51. This trade represents a 16.02% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 42,590 shares of company stock worth $5,775,987. 4.80% of the stock is owned by insiders.

Institutional Investors Weigh In On Neurocrine Biosciences

Several institutional investors have recently added to or reduced their stakes in NBIX. Corient Private Wealth LLC boosted its holdings in Neurocrine Biosciences by 33.8% in the fourth quarter. Corient Private Wealth LLC now owns 5,357 shares of the company’s stock valued at $760,000 after purchasing an additional 1,352 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new stake in Neurocrine Biosciences during the fourth quarter worth approximately $220,000. Wick Capital Partners LLC acquired a new stake in Neurocrine Biosciences during the fourth quarter worth approximately $224,000. MidFirst Bank purchased a new stake in shares of Neurocrine Biosciences during the 4th quarter worth approximately $176,000. Finally, Pacer Advisors Inc. lifted its position in shares of Neurocrine Biosciences by 121.6% during the 4th quarter. Pacer Advisors Inc. now owns 29,621 shares of the company’s stock worth $4,201,000 after buying an additional 16,257 shares during the last quarter. Hedge funds and other institutional investors own 92.59% of the company’s stock.

Neurocrine Biosciences Company Profile

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.