Neurocrine Biosciences (NASDAQ:NBIX) PT Raised to $169.00

Neurocrine Biosciences (NASDAQ:NBIX) had its price objective raised by equities researchers at Barclays from $150.00 to $169.00 in a research note issued on Thursday, Benzinga reports. The firm currently has an “overweight” rating on the stock. Barclays‘s price objective suggests a potential upside of 18.61% from the company’s previous close.

NBIX has been the topic of several other reports. StockNews.com raised shares of Neurocrine Biosciences from a “buy” rating to a “strong-buy” rating in a report on Thursday, February 8th. JPMorgan Chase & Co. upped their price objective 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. BMO Capital Markets increased their target price on shares of Neurocrine Biosciences from $129.00 to $138.00 and gave the stock a “market perform” rating in a report on Thursday. Mizuho increased 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. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Neurocrine Biosciences in a report on Wednesday. Six equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $145.83.

Neurocrine Biosciences Stock Performance

NASDAQ NBIX traded down $0.55 during trading on Thursday, hitting $142.48. The stock had a trading volume of 404,614 shares, compared to its average volume of 850,797. The stock has a market capitalization of $14.18 billion, a price-to-earnings ratio of 58.94 and a beta of 0.28. Neurocrine Biosciences has a one year low of $89.04 and a one year high of $148.37. The stock has a 50 day simple moving average of $137.11 and a 200 day simple moving average of $128.51.

Neurocrine Biosciences (NASDAQ:NBIX) last issued 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 for the quarter, compared to analyst estimates of $518.52 million. Neurocrine Biosciences had a net margin of 13.23% and a return on equity of 12.85%. The company’s quarterly revenue was up 25.0% compared to the same quarter last year. During the same period last year, the company posted $0.88 earnings per share. On average, sell-side analysts predict that Neurocrine Biosciences will post 4.8 EPS for the current year.

Insider Activity at Neurocrine Biosciences

In related news, insider Ingrid Delaet sold 200 shares of the firm’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $140.00, for a total value of $28,000.00. Following the completion of the sale, the insider now owns 7,507 shares in the company, valued at $1,050,980. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Neurocrine Biosciences news, insider David W. Boyer sold 456 shares of the firm’s stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $141.96, for a total transaction of $64,733.76. Following the completion of the transaction, the insider now directly owns 4,894 shares in the company, valued at approximately $694,752.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Ingrid Delaet sold 200 shares of the firm’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $140.00, for a total transaction of $28,000.00. Following the transaction, the insider now owns 7,507 shares of the company’s stock, valued at $1,050,980. The disclosure for this sale can be found here. Insiders sold 181,547 shares of company stock worth $25,039,887 over the last 90 days. Company insiders own 4.30% of the company’s stock.

Hedge Funds Weigh In On Neurocrine Biosciences

Several hedge funds have recently added to or reduced their stakes in the business. Daiwa Securities Group Inc. increased its holdings in Neurocrine Biosciences by 32.5% during the 1st quarter. Daiwa Securities Group Inc. now owns 8,590 shares of the company’s stock valued at $1,185,000 after acquiring an additional 2,109 shares in the last quarter. Fidelis Capital Partners LLC purchased a new position in Neurocrine Biosciences during the 1st quarter valued at about $99,000. Tokio Marine Asset Management Co. Ltd. grew its holdings in shares of Neurocrine Biosciences by 23.2% during the first quarter. Tokio Marine Asset Management Co. Ltd. now owns 3,755 shares of the company’s stock worth $518,000 after buying an additional 707 shares in the last quarter. Capstone Investment Advisors LLC grew its holdings in shares of Neurocrine Biosciences by 136.1% during the first quarter. Capstone Investment Advisors LLC now owns 5,652 shares of the company’s stock worth $780,000 after buying an additional 3,258 shares in the last quarter. Finally, Janney Montgomery Scott LLC grew its holdings in shares of Neurocrine Biosciences by 3.1% during the first quarter. Janney Montgomery Scott LLC now owns 8,907 shares of the company’s stock worth $1,228,000 after buying an additional 270 shares in the last quarter. 92.59% of the stock is currently owned by hedge funds and other 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.