Brokerages Set Neurocrine Biosciences, Inc. (NASDAQ:NBIX) Target Price at $125.65

Shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX – Get Rating) have received a consensus rating of “Moderate Buy” from the nineteen analysts that are presently covering the firm, MarketBeat reports. Five analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $125.65.

A number of equities research analysts recently commented on NBIX shares. Evercore ISI upgraded Neurocrine Biosciences from an “in-line” rating to an “outperform” rating and set a $130.00 price objective for the company in a report on Friday, March 3rd. Morgan Stanley upgraded shares of Neurocrine Biosciences from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $120.00 to $130.00 in a research report on Friday, February 3rd. Barclays lowered their target price on shares of Neurocrine Biosciences from $136.00 to $131.00 and set an “overweight” rating for the company in a research note on Tuesday, February 7th. Royal Bank of Canada reduced their price target on shares of Neurocrine Biosciences from $122.00 to $110.00 and set a “sector perform” rating on the stock in a research report on Tuesday, February 7th. Finally, Mizuho restated a “neutral” rating and issued a $116.00 price objective on shares of Neurocrine Biosciences in a research report on Tuesday, February 7th.

Insiders Place Their Bets

In other Neurocrine Biosciences news, major shareholder Neurocrine Biosciences Inc acquired 4,395,588 shares of the business’s stock in a transaction dated Thursday, February 23rd. The shares were acquired at an average price of $8.88 per share, with a total value of $39,032,821.44. Following the completion of the transaction, the insider now directly owns 8,575,316 shares in the company, valued at approximately $76,148,806.08. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, major shareholder Neurocrine Biosciences Inc bought 4,395,588 shares of the stock in a transaction that occurred on Thursday, February 23rd. The shares were acquired at an average price of $8.88 per share, with a total value of $39,032,821.44. Following the completion of the transaction, the insider now owns 8,575,316 shares in the company, valued at $76,148,806.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Eric Benevich sold 400 shares of the stock in a transaction that occurred on Friday, January 6th. The shares were sold at an average price of $125.00, for a total value of $50,000.00. Following the transaction, the insider now directly owns 15,643 shares of the company’s stock, valued at $1,955,375. The disclosure for this sale can be found here. Insiders sold a total of 69,749 shares of company stock valued at $7,706,823 in the last quarter. 4.40% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in Neurocrine Biosciences by 1.1% during the third quarter. Vanguard Group Inc. now owns 9,000,963 shares of the company’s stock worth $955,992,000 after purchasing an additional 96,489 shares during the period. Bellevue Group AG increased its holdings in shares of Neurocrine Biosciences by 0.4% during the 3rd quarter. Bellevue Group AG now owns 2,855,146 shares of the company’s stock worth $303,245,000 after acquiring an additional 10,841 shares during the last quarter. Deerfield Management Company L.P. Series C raised its stake in Neurocrine Biosciences by 21.4% in the 2nd quarter. Deerfield Management Company L.P. Series C now owns 2,012,714 shares of the company’s stock valued at $196,199,000 after acquiring an additional 354,914 shares during the period. Bank of New York Mellon Corp lifted its holdings in Neurocrine Biosciences by 2.2% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,740,955 shares of the company’s stock valued at $184,908,000 after purchasing an additional 37,538 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its position in Neurocrine Biosciences by 11.9% during the fourth quarter. Renaissance Technologies LLC now owns 1,613,664 shares of the company’s stock worth $192,736,000 after purchasing an additional 171,200 shares during the period. Institutional investors own 92.58% of the company’s stock.

Neurocrine Biosciences Price Performance

NBIX opened at $94.25 on Friday. The firm has a 50 day simple moving average of $104.10 and a 200 day simple moving average of $110.74. Neurocrine Biosciences has a fifty-two week low of $75.25 and a fifty-two week high of $129.29. The company has a market cap of $9.10 billion, a price-to-earnings ratio of 61.60 and a beta of 0.50.

Neurocrine Biosciences (NASDAQ:NBIX – Get Rating) last issued its earnings results on Monday, February 6th. The company reported $1.24 EPS for the quarter, beating the consensus estimate of $1.15 by $0.09. The company had revenue of $412.00 million during the quarter, compared to analysts’ expectations of $408.96 million. Neurocrine Biosciences had a net margin of 10.38% and a return on equity of 10.19%. The business’s revenue for the quarter was up 32.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.08) EPS. As a group, analysts expect that Neurocrine Biosciences will post 2.77 EPS for the current year.

Neurocrine Biosciences Company Profile

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Neurocrine Biosciences, Inc is a neuroscience-focused, biopharmaceutical company. It discovers, develops, and intends to commercialize drugs for the treatment of neurological and endocrine related diseases and disorders. The company was founded by Kevin C. Gorman and Wylie W. Vale in January 1992 and is headquartered in San Diego, CA.