Neurocrine Biosciences (NASDAQ:NBIX) Price Target Raised to $181.00

Neurocrine Biosciences (NASDAQ:NBIX) had its price target raised by research analysts at JPMorgan Chase & Co. from $173.00 to $181.00 in a research report issued on Wednesday, Benzinga reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective indicates a potential upside of 23.24% from the stock’s current price.

A number of other equities analysts have also recently weighed in on the stock. UBS Group lifted their price target on shares of Neurocrine Biosciences from $174.00 to $193.00 and gave the stock a “buy” rating in a research report on Tuesday, May 28th. BMO Capital Markets lifted their target price on Neurocrine Biosciences from $129.00 to $138.00 and gave the stock a “market perform” rating in a report on Thursday, May 2nd. Barclays increased their price target on Neurocrine Biosciences from $169.00 to $180.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. Evercore ISI initiated coverage on Neurocrine Biosciences in a report on Tuesday, May 14th. They set an “outperform” rating and a $175.00 price objective on the stock. Finally, Oppenheimer boosted their price objective on Neurocrine Biosciences from $216.00 to $219.00 and gave the company an “outperform” rating in a research report on Friday, August 2nd. Six investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $158.68.

Neurocrine Biosciences Trading Up 0.1 %

Shares of NASDAQ:NBIX traded up $0.14 during midday trading on Wednesday, hitting $146.87. The company had a trading volume of 24,031 shares, compared to its average volume of 819,927. Neurocrine Biosciences has a 12 month low of $101.93 and a 12 month high of $157.98. The firm has a fifty day simple moving average of $140.28 and a 200 day simple moving average of $138.63. The stock has a market cap of $14.78 billion, a price-to-earnings ratio of 40.42 and a beta of 0.37.

Neurocrine Biosciences (NASDAQ:NBIX) last issued its earnings results on Thursday, August 1st. The company reported $0.63 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.15 by ($0.52). The company had revenue of $590.20 million for the quarter, compared to the consensus estimate of $545.98 million. Neurocrine Biosciences had a return on equity of 14.86% and a net margin of 16.00%. Neurocrine Biosciences’s quarterly revenue was up 30.4% on a year-over-year basis. During the same quarter last year, the business posted $0.95 EPS. Equities analysts forecast that Neurocrine Biosciences will post 4.22 EPS for the current fiscal year.

Insider Activity

In related news, CFO Matt Abernethy sold 15,000 shares of Neurocrine Biosciences stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $140.24, for a total transaction of $2,103,600.00. Following the completion of the sale, the chief financial officer now owns 31,528 shares of the company’s stock, valued at approximately $4,421,486.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CFO Matt Abernethy sold 15,000 shares of the business’s stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $140.24, for a total value of $2,103,600.00. Following the completion of the sale, the chief financial officer now directly owns 31,528 shares in the company, valued at approximately $4,421,486.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Ingrid Delaet sold 273 shares of the stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $147.70, for a total value of $40,322.10. Following the transaction, the insider now owns 6,607 shares in the company, valued at approximately $975,853.90. The disclosure for this sale can be found here. Insiders have sold 93,341 shares of company stock valued at $12,947,083 over the last ninety days. 4.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Neurocrine Biosciences

Large investors have recently added to or reduced their stakes in the stock. Mather Group LLC. bought a new stake in shares of Neurocrine Biosciences during the 1st quarter valued at $26,000. RFP Financial Group LLC raised its stake in Neurocrine Biosciences by 346.5% in the first quarter. RFP Financial Group LLC now owns 192 shares of the company’s stock valued at $26,000 after purchasing an additional 149 shares in the last quarter. Lindbrook Capital LLC raised its stake in 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 purchasing an additional 96 shares in the last quarter. Ashton Thomas Private Wealth LLC bought a new stake in Neurocrine Biosciences during the second quarter worth about $28,000. Finally, Innealta Capital LLC acquired a new stake in Neurocrine Biosciences during the second quarter worth about $30,000. 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.