Neurocrine Biosciences (NASDAQ:NBIX) Given New $184.00 Price Target at JPMorgan Chase & Co.

Neurocrine Biosciences (NASDAQ:NBIX) had its price objective raised by JPMorgan Chase & Co. from $183.00 to $184.00 in a research note released on Wednesday morning,Benzinga reports. They currently have an overweight rating on the stock.

Several other analysts have also weighed in on NBIX. Wedbush decreased their price target on Neurocrine Biosciences from $157.00 to $147.00 and set an “outperform” rating on the stock in a report on Friday, February 7th. Barclays lifted their price objective on Neurocrine Biosciences from $160.00 to $165.00 and gave the company an “overweight” rating in a report on Monday, December 23rd. Guggenheim lowered their price target on shares of Neurocrine Biosciences from $165.00 to $163.00 and set a “buy” rating for the company in a research report on Monday, February 10th. Royal Bank of Canada decreased their price objective on Neurocrine Biosciences from $154.00 to $148.00 and set a “sector perform” rating for the company in a research note on Friday, February 7th. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $150.00 target price (down from $185.00) on shares of Neurocrine Biosciences in a research report on Friday, March 7th. Five analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $165.38.

Neurocrine Biosciences Stock Down 0.7 %

NASDAQ:NBIX opened at $113.16 on Wednesday. The stock has a market cap of $11.28 billion, a PE ratio of 34.40, a P/E/G ratio of 0.77 and a beta of 0.35. The business’s 50-day simple moving average is $124.17 and its two-hundred day simple moving average is $124.90. Neurocrine Biosciences has a 52 week low of $105.18 and a 52 week high of $157.98.

Neurocrine Biosciences (NASDAQ:NBIX) last released its earnings results on Thursday, February 6th. The company reported $1.00 EPS for the quarter, missing the consensus estimate of $1.62 by ($0.62). Neurocrine Biosciences had a return on equity of 13.38% and a net margin of 14.49%. Sell-side analysts anticipate that Neurocrine Biosciences will post 4.28 earnings per share for the current fiscal year.

Neurocrine Biosciences declared that its board has approved a share repurchase plan on Friday, February 21st that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the company to reacquire up to 4.2% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its stock is undervalued.

Insider Activity at Neurocrine Biosciences

In other news, Director Kevin Charles Gorman sold 5,844 shares of the firm’s stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $116.69, for a total value of $681,936.36. Following the completion of the sale, the director now directly owns 521,618 shares of the company’s stock, valued at $60,867,604.42. This trade represents a 1.11 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Ingrid Delaet sold 272 shares of the business’s stock in a transaction dated Tuesday, December 31st. The stock was sold at an average price of $138.10, for a total transaction of $37,563.20. Following the sale, the insider now directly owns 2,507 shares in the company, valued at approximately $346,216.70. This represents a 9.79 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 233,178 shares of company stock valued at $33,906,594 over the last three months. 4.30% of the stock is owned by corporate insiders.

Institutional Trading of Neurocrine Biosciences

A number of large investors have recently made changes to their positions in NBIX. Commerce Bank lifted its position in Neurocrine Biosciences by 2.6% during the third quarter. Commerce Bank now owns 4,199 shares of the company’s stock worth $484,000 after buying an additional 108 shares during the period. Cerity Partners LLC increased its stake in Neurocrine Biosciences by 42.4% during the 3rd quarter. Cerity Partners LLC now owns 39,024 shares of the company’s stock worth $4,496,000 after buying an additional 11,622 shares during the period. Algert Global LLC acquired a new position in shares of Neurocrine Biosciences in the third quarter worth about $2,116,000. Daiwa Securities Group Inc. grew its stake in Neurocrine Biosciences by 34.1% during the 3rd quarter. Daiwa Securities Group Inc. now owns 11,798 shares of the company’s stock valued at $1,360,000 after purchasing an additional 2,997 shares in the last quarter. Finally, Fisher Asset Management LLC boosted its stake in Neurocrine Biosciences by 7.8% during the 3rd quarter. Fisher Asset Management LLC now owns 68,270 shares of the company’s stock valued at $7,866,000 after acquiring an additional 4,930 shares during the last quarter. 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.