Guggenheim Boosts Neurocrine Biosciences (NASDAQ:NBIX) Price Target to $170.00

Neurocrine Biosciences (NASDAQ:NBIX) had its target price raised by Guggenheim from $164.00 to $170.00 in a report published on Thursday morning, Benzinga reports. Guggenheim currently has a buy rating on the stock.

A number of other brokerages have also commented on NBIX. Wedbush reissued an outperform rating and issued a $147.00 price target on shares of Neurocrine Biosciences in a report on Wednesday, April 17th. Oppenheimer lifted their price target on Neurocrine Biosciences from $200.00 to $216.00 and gave the stock an outperform rating in a research note on Thursday. The Goldman Sachs Group upped their price objective on Neurocrine Biosciences from $134.00 to $153.00 and gave the stock a buy rating in a report on Thursday, January 25th. HC Wainwright raised their price objective on Neurocrine Biosciences from $150.00 to $160.00 and gave the company a buy rating in a report on Thursday. Finally, Cantor Fitzgerald reaffirmed an overweight rating and issued a $155.00 target price on shares of Neurocrine Biosciences in a research note on Wednesday, April 10th. Six analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to MarketBeat.com, Neurocrine Biosciences has a consensus rating of Moderate Buy and a consensus price target of $147.88.

Neurocrine Biosciences Stock Up 0.6 %

Shares of NBIX stock traded up $0.88 on Thursday, reaching $140.71. The company’s stock had a trading volume of 616,567 shares, 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. Neurocrine Biosciences has a 12-month low of $89.04 and a 12-month high of $148.37. The stock’s 50 day simple moving average is $137.37 and its 200-day simple moving average is $128.88.

Neurocrine Biosciences (NASDAQ:NBIX) last issued its quarterly earnings results on Wednesday, February 7th. The company reported $1.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.13 by $0.31. The firm had revenue of $515.20 million during the quarter, compared to the consensus estimate of $518.52 million. Neurocrine Biosciences had a return on equity of 17.45% and a net margin of 18.65%. The company’s revenue for the quarter was up 25.0% on a year-over-year basis. During the same quarter last year, the company posted $0.88 EPS. Research analysts expect that Neurocrine Biosciences will post 4.78 EPS for the current year.

Insider Buying and Selling at Neurocrine Biosciences

In other news, CEO Kevin Charles Gorman sold 3,040 shares of the firm’s stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $142.18, for a total value of $432,227.20. Following the completion of the sale, the chief executive officer now directly owns 504,919 shares of the company’s stock, valued at approximately $71,789,383.42. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CEO Kevin Charles Gorman sold 3,040 shares of the stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $142.18, for a total value of $432,227.20. Following the completion of the transaction, the chief executive officer now owns 504,919 shares of the company’s stock, valued at approximately $71,789,383.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Eric Benevich sold 19,818 shares of the firm’s stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $133.36, for a total value of $2,642,928.48. Following the completion of the transaction, the insider now owns 40,778 shares of the company’s stock, valued at approximately $5,438,154.08. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 181,547 shares of company stock valued at $25,039,887. 4.30% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of NBIX. Mather Group LLC. purchased a new position in Neurocrine Biosciences during the first quarter valued at $26,000. Headinvest LLC purchased a new position in shares of Neurocrine Biosciences in the 3rd quarter worth about $28,000. Lindbrook Capital LLC raised its position in shares of Neurocrine Biosciences by 85.0% in the 4th quarter. Lindbrook Capital LLC now owns 209 shares of the company’s stock worth $28,000 after purchasing an additional 96 shares during the last quarter. EdgeRock Capital LLC bought a new position in Neurocrine Biosciences in the 4th quarter worth about $31,000. Finally, Benjamin F. Edwards & Company Inc. purchased a new stake in Neurocrine Biosciences during the 4th quarter valued at about $33,000. 92.59% of the stock is currently owned by institutional investors.

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.