Neurocrine Biosciences (NASDAQ:NBIX) Price Target Raised to $183.00

by · The Markets Daily

Neurocrine Biosciences (NASDAQ:NBIX – Free Report) had its price target lifted by Morgan Stanley from $182.00 to $183.00 in a research report released on Friday,Benzinga reports. The firm currently has an equal weight rating on the stock.

Several other brokerages have also recently issued reports on NBIX. Stifel Nicolaus raised their target price on Neurocrine Biosciences from $188.00 to $215.00 and gave the stock a “buy” rating in a research report on Friday, July 31st. Citigroup upped their price target on shares of Neurocrine Biosciences from $249.00 to $253.00 and gave the company a “buy” rating in a research report on Thursday, September 3rd. Needham & Company LLC increased their price objective on shares of Neurocrine Biosciences from $200.00 to $204.00 and gave the stock a “buy” rating in a research note on Friday, July 31st. BMO Capital Markets raised their price objective on shares of Neurocrine Biosciences from $144.00 to $170.00 and gave the stock a “market perform” rating in a report on Monday, July 13th. Finally, Sanford C. Bernstein started coverage on shares of Neurocrine Biosciences in a research report on Friday, May 22nd. They set an “outperform” rating and a $221.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $201.09.

Get Our Latest Analysis on NBIX

Neurocrine Biosciences Stock Performance

NASDAQ:NBIX opened at $156.22 on Friday. The company has a market cap of $15.88 billion, a PE ratio of 22.91, a price-to-earnings-growth ratio of 0.73 and a beta of 0.38. The company has a 50 day simple moving average of $164.46 and a two-hundred day simple moving average of $151.42. Neurocrine Biosciences has a 12 month low of $122.14 and a 12 month high of $186.12.

Neurocrine Biosciences (NASDAQ:NBIX – Get Free Report) last released its quarterly earnings results on Friday, July 31st. The company reported $2.85 earnings per share for the quarter, beating the consensus estimate of $1.65 by $1.20. Neurocrine Biosciences had a return on equity of 22.43% and a net margin of 20.91%.The firm had revenue of $959.00 million for the quarter, compared to analysts’ expectations of $891.16 million. During the same period in the prior year, the firm earned $1.65 EPS. The company’s revenue was up 39.5% compared to the same quarter last year. Research analysts forecast that Neurocrine Biosciences will post 7.25 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Leslie Norwalk sold 1,250 shares of the business’s stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $182.01, for a total value of $227,512.50. Following the transaction, the director directly owned 1,588 shares in the company, valued at $289,031.88. The trade was a 44.05% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Ingrid Delaet sold 8,433 shares of the company’s stock in a transaction dated Thursday, July 9th. The stock was sold at an average price of $178.72, for a total value of $1,507,145.76. Following the completion of the transaction, the insider directly owned 16,225 shares of the company’s stock, valued at approximately $2,899,732. This trade represents a 34.20% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 40,188 shares of company stock valued at $7,118,633. Company insiders own 4.60% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in NBIX. Geneos Wealth Management Inc. grew its holdings in Neurocrine Biosciences by 143.6% during the 1st quarter. Geneos Wealth Management Inc. now owns 229 shares of the company’s stock valued at $25,000 after buying an additional 135 shares in the last quarter. DJE Kapital AG purchased a new position in shares of Neurocrine Biosciences in the fourth quarter worth $28,000. Basecamp Wealth Advisors LLC boosted its position in shares of Neurocrine Biosciences by 582.9% during the first quarter. Basecamp Wealth Advisors LLC now owns 239 shares of the company’s stock worth $31,000 after acquiring an additional 204 shares during the last quarter. Cassaday & Co Wealth Management LLC purchased a new position in Neurocrine Biosciences during the first quarter valued at $33,000. Finally, Meeder Asset Management Inc. grew its stake in Neurocrine Biosciences by 651.6% during the fourth quarter. Meeder Asset Management Inc. now owns 233 shares of the company’s stock valued at $33,000 after acquiring an additional 202 shares in the last quarter. 92.59% of the stock is owned by hedge funds and other institutional investors.

Neurocrine Biosciences Company Profile

(Get Free Report)

Neurocrine Biosciences, Inc is a biopharmaceutical company focused on discovering, developing and commercializing medicines for neurological, neuroendocrine and psychiatric disorders. The company develops therapies for conditions with significant unmet medical needs, using expertise in neuroscience and endocrine biology.

Its primary commercial product is INGREZZA (valbenazine), a vesicular monoamine transporter 2 inhibitor approved in the United States for the treatment of tardive dyskinesia and chorea associated with Huntington’s disease.

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