Citigroup Raises Neurocrine Biosciences (NASDAQ:NBIX) Price Target to $150.00

Neurocrine Biosciences (NASDAQ:NBIX) had its target price increased by Citigroup from $140.00 to $150.00 in a research report released on Friday, Benzinga reports. The firm currently has a neutral rating on the stock.

Other analysts also recently issued research reports about the company. Oppenheimer raised their price objective on Neurocrine Biosciences from $200.00 to $216.00 and gave the stock an outperform rating in a research report on Thursday. Needham & Company LLC reissued a hold rating on shares of Neurocrine Biosciences in a research note on Wednesday, May 1st. Cantor Fitzgerald reaffirmed an overweight rating and set a $155.00 price objective on shares of Neurocrine Biosciences in a research note on Wednesday, April 10th. JPMorgan Chase & Co. lifted their price objective on Neurocrine Biosciences from $148.00 to $158.00 and gave the stock an overweight rating in a research note on Wednesday, March 20th. Finally, Wedbush reissued an outperform rating and issued a $147.00 target price on shares of Neurocrine Biosciences in a research note on Wednesday, April 17th. Six investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. Based on data from MarketBeat.com, Neurocrine Biosciences currently has a consensus rating of Moderate Buy and an average target price of $147.88.

Neurocrine Biosciences Stock Performance

Shares of NASDAQ:NBIX traded up $1.00 on Friday, hitting $141.71. The company’s stock had a trading volume of 495,129 shares, compared to its average volume of 849,714. Neurocrine Biosciences has a 12 month low of $89.04 and a 12 month high of $148.37. The company has a market capitalization of $14.26 billion, a price-to-earnings ratio of 39.38 and a beta of 0.28. The stock’s 50-day moving average is $137.37 and its two-hundred day moving average is $129.00.

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

Insider Activity

In other news, insider Ingrid Delaet sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $145.06, for a total value of $725,300.00. Following the transaction, the insider now owns 7,507 shares of the company’s stock, valued at $1,088,965.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Ingrid Delaet sold 5,000 shares of the stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $145.06, for a total transaction of $725,300.00. Following the sale, the insider now owns 7,507 shares of the company’s stock, valued at $1,088,965.42. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider David W. Boyer sold 456 shares of the stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $141.96, for a total value of $64,733.76. Following the sale, the insider now directly owns 4,894 shares in the company, valued at approximately $694,752.24. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 181,547 shares of company stock valued at $25,039,887. 4.30% of the stock is owned by insiders.

Institutional Investors Weigh In On Neurocrine Biosciences

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in Neurocrine Biosciences by 1.6% during the fourth quarter. Vanguard Group Inc. now owns 9,710,328 shares of the company’s stock worth $1,279,433,000 after purchasing an additional 150,485 shares during the last quarter. DSM Capital Partners LLC boosted its holdings in shares of Neurocrine Biosciences by 15.4% during the 3rd quarter. DSM Capital Partners LLC now owns 1,224,017 shares of the company’s stock valued at $137,702,000 after acquiring an additional 163,747 shares in the last quarter. Brown Advisory Inc. boosted its holdings in shares of Neurocrine Biosciences by 2.2% during the 4th 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 in the last quarter. Braidwell LP boosted its holdings in shares of Neurocrine Biosciences by 3.7% during the 3rd 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 boosted its holdings in shares of Neurocrine Biosciences by 66.0% during the 4th quarter. Los Angeles Capital Management LLC now owns 918,391 shares of the company’s stock valued at $121,007,000 after acquiring an additional 364,986 shares in the last quarter. 92.59% of the stock is currently owned by 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.