Oppenheimer Raises Neurocrine Biosciences (NASDAQ:NBIX) Price Target to $216.00

Neurocrine Biosciences (NASDAQ:NBIX) had its price objective raised by Oppenheimer from $200.00 to $216.00 in a research report sent to investors on Thursday morning, Benzinga reports. They currently have an outperform rating on the stock.

Several other equities analysts have also recently issued reports on the stock. StockNews.com upgraded shares of Neurocrine Biosciences from a buy rating to a strong-buy rating in a research note on Thursday, February 8th. Wedbush restated an outperform rating and set a $147.00 price objective on shares of Neurocrine Biosciences in a research report on Wednesday, April 17th. Mizuho raised their target price on shares of Neurocrine Biosciences from $116.00 to $140.00 and gave the stock a neutral rating in a report on Thursday, February 8th. HC Wainwright boosted their target price on shares of Neurocrine Biosciences from $150.00 to $160.00 and gave the company a buy rating in a research note on Thursday. Finally, Wells Fargo & Company upgraded Neurocrine Biosciences from an equal weight rating to an overweight rating and raised their price target for the stock from $140.00 to $170.00 in a research note on Wednesday, April 24th. Six equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock 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 trading on Thursday, reaching $140.71. 616,567 shares of the stock traded hands, compared to its average volume of 795,508. Neurocrine Biosciences has a 52-week low of $89.04 and a 52-week high of $148.37. The stock has a market cap of $14.16 billion, a P/E ratio of 38.76 and a beta of 0.28. The stock has a 50-day moving average of $137.37 and a two-hundred day moving average of $128.88.

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

Insider Buying and Selling

In other Neurocrine Biosciences news, insider Eric Benevich sold 19,818 shares of the firm’s stock in a transaction that occurred on 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 transaction, the insider now owns 40,778 shares in the company, valued at approximately $5,438,154.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Ingrid Delaet sold 5,000 shares of the business’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $145.06, for a total value of $725,300.00. Following the sale, the insider now directly owns 7,507 shares in the company, valued at approximately $1,088,965.42. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Eric Benevich sold 19,818 shares of the stock in a transaction dated 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 directly 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. Over the last three months, insiders have sold 181,547 shares of company stock worth $25,039,887. Corporate insiders own 4.30% of the company’s stock.

Institutional Investors Weigh In On Neurocrine Biosciences

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NBIX. Mather Group LLC. purchased a new position in shares of Neurocrine Biosciences in the 1st quarter worth approximately $26,000. Headinvest LLC bought a new stake in Neurocrine Biosciences in the third quarter worth $28,000. Lindbrook Capital LLC boosted its stake in Neurocrine Biosciences by 85.0% during the fourth quarter. Lindbrook Capital LLC now owns 209 shares of the company’s stock worth $28,000 after buying an additional 96 shares during the period. EdgeRock Capital LLC bought a new position in Neurocrine Biosciences during the fourth quarter valued at $31,000. Finally, Benjamin F. Edwards & Company Inc. purchased a new stake in shares of Neurocrine Biosciences in the fourth quarter valued at $33,000. 92.59% of the stock is currently owned by hedge funds and other institutional investors.

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.