Neurocrine Biosciences (NASDAQ:NBIX) Price Target Raised to $160.00

Neurocrine Biosciences (NASDAQ:NBIX) had its target price raised by HC Wainwright from $150.00 to $160.00 in a report released on Thursday morning, Benzinga reports. They currently have a buy rating on the stock.

NBIX has been the subject of several other reports. The Goldman Sachs Group upped their target price on Neurocrine Biosciences from $134.00 to $153.00 and gave the stock a buy rating in a research note on Thursday, January 25th. Oppenheimer restated an outperform rating and set a $200.00 price objective on shares of Neurocrine Biosciences in a research report on Wednesday, April 24th. Wedbush reiterated an outperform rating and issued a $147.00 target price on shares of Neurocrine Biosciences in a research report on Wednesday, April 17th. JPMorgan Chase & Co. increased their target price on shares of Neurocrine Biosciences from $148.00 to $158.00 and gave the stock an overweight rating in a report on Wednesday, March 20th. Finally, Wells Fargo & Company raised shares of Neurocrine Biosciences from an equal weight rating to an overweight rating and lifted their price target for the company from $140.00 to $170.00 in a report on Wednesday, April 24th. Six equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus price target of $147.88.

Neurocrine Biosciences Stock Performance

Shares of NASDAQ NBIX traded up $0.88 during mid-day trading on Thursday, reaching $140.71. The company had a trading volume of 616,567 shares, compared to its average volume of 795,508. The firm has a market cap of $14.16 billion, a price-to-earnings ratio of 38.76 and a beta of 0.28. The business’s 50-day simple moving average is $137.37 and its 200 day simple moving average is $128.88. Neurocrine Biosciences has a one year low of $89.04 and a one year high of $148.37.

Neurocrine Biosciences (NASDAQ:NBIX) last released its earnings results on Wednesday, February 7th. The company reported $1.44 EPS for the quarter, beating the consensus estimate of $1.13 by $0.31. Neurocrine Biosciences had a net margin of 18.65% and a return on equity of 17.45%. The firm had revenue of $515.20 million for the quarter, compared to analyst estimates of $518.52 million. During the same period last year, the firm earned $0.88 EPS. The business’s quarterly revenue was up 25.0% compared to the same quarter last year. On average, sell-side analysts anticipate that Neurocrine Biosciences will post 4.78 EPS for the current year.

Insiders Place Their Bets

In related news, insider Eric Benevich sold 19,818 shares of Neurocrine Biosciences stock in a transaction on Monday, April 15th. The shares were sold at an average price of $133.36, for a total transaction 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 $5,438,154.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Neurocrine Biosciences news, 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 completion of the sale, the insider now directly owns 40,778 shares in the company, valued at approximately $5,438,154.08. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider David W. Boyer sold 456 shares of the business’s stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $141.96, for a total value of $64,733.76. Following the completion of the transaction, the insider now directly owns 4,894 shares in the company, valued at $694,752.24. The disclosure for this sale can be found here. In the last 90 days, insiders sold 181,547 shares of company stock worth $25,039,887. 4.30% of the stock is currently owned by insiders.

Institutional Trading of Neurocrine Biosciences

Several large investors have recently modified their holdings of the stock. Vanguard Group Inc. grew its stake in shares of Neurocrine Biosciences by 1.6% in the 4th quarter. Vanguard Group Inc. now owns 9,710,328 shares of the company’s stock valued at $1,279,433,000 after buying an additional 150,485 shares during the period. DSM Capital Partners LLC boosted its holdings in Neurocrine Biosciences by 15.4% in the third quarter. DSM Capital Partners LLC now owns 1,224,017 shares of the company’s stock worth $137,702,000 after acquiring an additional 163,747 shares in the last quarter. Brown Advisory Inc. grew its stake in Neurocrine Biosciences by 2.2% in the fourth quarter. Brown Advisory Inc. now owns 1,113,413 shares of the company’s stock valued at $146,703,000 after acquiring an additional 23,831 shares during the period. Braidwell LP increased its holdings in shares of Neurocrine Biosciences by 3.7% during the third quarter. Braidwell LP now owns 968,024 shares of the company’s stock valued at $108,903,000 after acquiring an additional 34,662 shares in the last quarter. Finally, Los Angeles Capital Management LLC raised its position in shares of Neurocrine Biosciences by 66.0% during the fourth quarter. Los Angeles Capital Management LLC now owns 918,391 shares of the company’s stock worth $121,007,000 after purchasing an additional 364,986 shares during the period. Institutional investors and hedge funds own 92.59% of the company’s stock.

About Neurocrine Biosciences

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.