Neurocrine Biosciences (NASDAQ:NBIX) Given New $170.00 Price Target at Leerink Partners

Neurocrine Biosciences (NASDAQ:NBIX) had its price objective raised by Leerink Partners from $160.00 to $170.00 in a research report released on Wednesday morning,Benzinga reports. The brokerage currently has an outperform rating on the stock.

NBIX has been the topic of several other reports. Wall Street Zen cut Neurocrine Biosciences from a “strong-buy” rating to a “buy” rating in a report on Monday, February 16th. Zacks Research raised Neurocrine Biosciences from a “strong sell” rating to a “hold” rating in a report on Wednesday, April 15th. HC Wainwright upped their price objective on Neurocrine Biosciences from $192.00 to $215.00 and gave the stock a “buy” rating in a report on Tuesday, April 7th. Truist Financial decreased their price objective on Neurocrine Biosciences from $169.00 to $140.00 and set a “buy” rating on the stock in a report on Tuesday, February 17th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $185.00 price objective on shares of Neurocrine Biosciences in a report on Monday, April 6th. One research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $180.67.

Neurocrine Biosciences Price Performance

Shares of NBIX opened at $131.18 on Wednesday. The stock has a market capitalization of $13.19 billion, a price-to-earnings ratio of 28.15, a price-to-earnings-growth ratio of 0.68 and a beta of 0.35. Neurocrine Biosciences has a 1 year low of $101.15 and a 1 year high of $160.18. The business’s 50 day simple moving average is $129.86 and its 200-day simple moving average is $138.09.

Neurocrine Biosciences (NASDAQ:NBIX) last issued 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 for the quarter, compared to analysts’ expectations of $804.21 million. Neurocrine Biosciences had a return on equity of 16.48% and a net margin of 16.73%.The firm’s revenue was up 28.3% on a year-over-year basis. During the same period last year, the company earned $1.69 earnings per share. On average, sell-side analysts expect that Neurocrine Biosciences will post 6.33 earnings per share for the current year.

Hedge Funds Weigh In On Neurocrine Biosciences

Large investors have recently modified their holdings of the stock. USA Financial Formulas bought a new position in shares of Neurocrine Biosciences during the 4th quarter valued at approximately $25,000. Geneos Wealth Management Inc. increased its position 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 valued at $25,000 after purchasing an additional 135 shares during the last quarter. Golden State Wealth Management LLC increased its position 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 valued at $26,000 after purchasing an additional 100 shares during the last quarter. Eastern Bank bought a new position in shares of Neurocrine Biosciences during the 3rd quarter valued at approximately $27,000. Finally, DJE Kapital AG bought a new position in shares of Neurocrine Biosciences during the 4th quarter valued at approximately $28,000. 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.