Neurocrine Biosciences (NASDAQ:NBIX) Price Target Increased to $150.00 by Analysts at Citigroup

Neurocrine Biosciences (NASDAQ:NBIX) had its price target lifted by Citigroup from $140.00 to $150.00 in a research report released on Friday morning, Benzinga reports. Citigroup currently has a neutral rating on the stock.

Several other research firms have also weighed in on NBIX. Needham & Company LLC reaffirmed a hold rating on shares of Neurocrine Biosciences in a report on Wednesday. Guggenheim lifted their price objective on Neurocrine Biosciences from $164.00 to $170.00 and gave the company a buy rating in a research report on Thursday. Canaccord Genuity Group increased their target price on Neurocrine Biosciences from $154.00 to $164.00 and gave the stock a buy rating in a report on Thursday. The Goldman Sachs Group raised their target price on Neurocrine Biosciences from $134.00 to $153.00 and gave the company a buy rating in a research note on Thursday, January 25th. Finally, Barclays increased their price objective on shares of Neurocrine Biosciences from $150.00 to $169.00 and gave the stock an overweight rating in a report on Thursday. Six analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average price target of $147.88.

Neurocrine Biosciences Stock Up 0.6 %

NBIX traded up $0.88 during trading on Friday, reaching $140.71. 616,567 shares of the company’s stock were exchanged, compared to its average volume of 795,508. The company has a market capitalization of $14.16 billion, a P/E ratio of 38.76 and a beta of 0.28. The business has a 50 day moving average price of $137.37 and a 200 day moving average price of $128.78. Neurocrine Biosciences has a fifty-two week low of $89.04 and a fifty-two week high of $148.37.

Neurocrine Biosciences (NASDAQ:NBIX) last posted its quarterly earnings results on Wednesday, February 7th. The company reported $1.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.13 by $0.31. The firm had revenue of $515.20 million during the quarter, compared to analyst estimates of $518.52 million. Neurocrine Biosciences had a net margin of 18.65% and a return on equity of 17.45%. The company’s quarterly revenue was up 25.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.88 earnings per share. As a group, research analysts forecast that Neurocrine Biosciences will post 4.79 EPS for the current year.

Insider Transactions at Neurocrine Biosciences

In other news, Director Richard F. Pops sold 15,000 shares of the stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $132.47, for a total transaction of $1,987,050.00. Following the completion of the sale, the director now owns 29,512 shares of the company’s stock, valued at $3,909,454.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Richard F. Pops sold 15,000 shares of the business’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $132.47, for a total value of $1,987,050.00. Following the sale, the director now owns 29,512 shares of the company’s stock, valued at $3,909,454.64. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Eric Benevich sold 19,818 shares of the stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $133.36, for a total transaction of $2,642,928.48. Following the transaction, the insider now owns 40,778 shares of the company’s stock, valued at $5,438,154.08. The disclosure for this sale can be found here. Insiders have sold a total of 181,547 shares of company stock valued at $25,039,887 over the last 90 days. 4.30% of the stock is owned by company insiders.

Institutional Trading of Neurocrine Biosciences

A number of hedge funds have recently added to or reduced their stakes in NBIX. Vestal Point Capital LP acquired a new stake in shares of Neurocrine Biosciences in the fourth quarter valued at about $105,408,000. Los Angeles Capital Management LLC raised its stake in Neurocrine Biosciences by 66.0% in the 4th quarter. Los Angeles Capital Management LLC now owns 918,391 shares of the company’s stock valued at $121,007,000 after acquiring an additional 364,986 shares during the period. Assenagon Asset Management S.A. lifted its stake in shares of Neurocrine Biosciences by 120.6% during the 3rd quarter. Assenagon Asset Management S.A. now owns 584,539 shares of the company’s stock valued at $65,761,000 after buying an additional 319,564 shares in the last quarter. Westfield Capital Management Co. LP boosted its holdings in shares of Neurocrine Biosciences by 73.0% in the third quarter. Westfield Capital Management Co. LP now owns 649,292 shares of the company’s stock worth $73,045,000 after acquiring an additional 273,952 shares during the period. Finally, Norges Bank bought a new position in Neurocrine Biosciences in the 4th quarter worth about $35,731,000. Institutional investors and hedge funds own 92.59% of the company’s stock.

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.