BMO Capital Markets Boosts Neurocrine Biosciences (NASDAQ:NBIX) Price Target to $138.00

Neurocrine Biosciences (NASDAQ:NBIX) had its price target boosted by BMO Capital Markets from $129.00 to $138.00 in a report issued on Thursday, Benzinga reports. They currently have a market perform rating on the stock.

Several other analysts have also weighed in on the company. HC Wainwright raised their price objective on Neurocrine Biosciences from $150.00 to $160.00 and gave the company a buy rating in a research note on Thursday. Needham & Company LLC reissued a hold rating on shares of Neurocrine Biosciences in a research note on Wednesday. Oppenheimer boosted their target price on shares of 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 increased their price target on Neurocrine Biosciences from $134.00 to $153.00 and gave the company a buy rating in a research note on Thursday, January 25th. Finally, 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. Six 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, Neurocrine Biosciences currently has a consensus rating of Moderate Buy and an average 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 $128.78. Neurocrine Biosciences has a one year low of $89.04 and a one year high of $148.37.

Neurocrine Biosciences (NASDAQ:NBIX) last issued its quarterly earnings results on Wednesday, February 7th. The company reported $1.44 earnings per share for the quarter, topping analysts’ consensus estimates of $1.13 by $0.31. The company had revenue of $515.20 million during the quarter, compared to the consensus estimate of $518.52 million. Neurocrine Biosciences had a net margin of 18.65% and a return on equity of 17.45%. The firm’s quarterly revenue was up 25.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.88 EPS. On average, sell-side analysts anticipate that Neurocrine Biosciences will post 4.79 EPS for the current year.

Insider Activity

In other news, insider Eric Benevich sold 75,000 shares of the company’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $139.38, for a total transaction of $10,453,500.00. Following the transaction, the insider now owns 40,778 shares in the company, valued at $5,683,637.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Neurocrine Biosciences news, insider Ingrid Delaet sold 200 shares of the firm’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $140.00, for a total value of $28,000.00. Following the transaction, the insider now directly owns 7,507 shares of the company’s stock, valued at $1,050,980. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Eric Benevich sold 75,000 shares of Neurocrine Biosciences stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $139.38, for a total transaction of $10,453,500.00. Following the transaction, the insider now owns 40,778 shares of the company’s stock, valued at $5,683,637.64. The disclosure for this sale can be found here. Insiders sold 181,547 shares of company stock worth $25,039,887 in the last quarter. 4.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Neurocrine Biosciences

Hedge funds have recently added to or reduced their stakes in the stock. Mather Group LLC. bought a new stake in Neurocrine Biosciences in the 1st quarter worth about $26,000. Headinvest LLC purchased a new position in shares of Neurocrine Biosciences in the 3rd quarter worth approximately $28,000. Lindbrook Capital LLC grew its holdings in shares of Neurocrine Biosciences by 85.0% in the fourth quarter. Lindbrook Capital LLC now owns 209 shares of the company’s stock valued at $28,000 after acquiring an additional 96 shares in the last quarter. EdgeRock Capital LLC purchased a new stake in shares of Neurocrine Biosciences during the fourth quarter valued at approximately $31,000. Finally, Benjamin F. Edwards & Company Inc. purchased a new stake in shares of Neurocrine Biosciences during the fourth quarter valued at approximately $33,000. Institutional investors and hedge funds own 92.59% of the company’s stock.

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.