Neurocrine Biosciences (NASDAQ:NBIX) Price Target Raised to $242.00

Neurocrine Biosciences (NASDAQ:NBIX) had its price target raised by stock analysts at Citigroup from $204.00 to $242.00 in a note issued to investors on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the stock. Citigroup’s price target suggests a potential upside of 84.99% from the stock’s previous close.

Several other brokerages have also recently weighed in on NBIX. JPMorgan Chase & Co. upped their target price on Neurocrine Biosciences from $176.00 to $177.00 and gave the stock an “overweight” rating in a report on Thursday, March 12th. Wall Street Zen cut Neurocrine Biosciences from a “strong-buy” rating to a “buy” rating in a report on Monday, February 16th. Morgan Stanley reiterated an “equal weight” rating and issued a $175.00 target price (up from $173.00) on shares of Neurocrine Biosciences in a report on Thursday, January 8th. Wedbush upped their target price on Neurocrine Biosciences from $151.00 to $166.00 and gave the stock an “outperform” rating in a report on Tuesday. Finally, Wells Fargo & Company lowered their target price on Neurocrine Biosciences from $180.00 to $175.00 and set an “overweight” rating for the company in a report on Friday, February 13th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $180.70.

Neurocrine Biosciences Stock Down 1.3%

NBIX traded down $1.67 during trading hours on Tuesday, reaching $130.82. 890,760 shares of the company’s stock traded hands, compared to its average volume of 1,143,899. The firm has a 50-day moving average price of $131.52 and a 200 day moving average price of $139.01. Neurocrine Biosciences has a 52-week low of $84.23 and a 52-week high of $160.18. The firm has a market capitalization of $13.13 billion, a PE ratio of 28.08, a PEG ratio of 0.69 and a beta of 0.35.

Neurocrine Biosciences (NASDAQ:NBIX) last posted its quarterly earnings data on Wednesday, February 11th. The company reported $1.88 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.36 by ($0.48). Neurocrine Biosciences had a net margin of 16.73% and a return on equity of 16.48%. The business had revenue of $805.50 million for the quarter, compared to analysts’ expectations of $804.21 million. During the same quarter in the previous year, the firm earned $1.69 EPS. Neurocrine Biosciences’s revenue was up 28.3% compared to the same quarter last year. Equities analysts predict that Neurocrine Biosciences will post 4.28 EPS for the current fiscal year.

Insider Buying and Selling at Neurocrine Biosciences

In related news, CEO Kyle Gano sold 36,400 shares of the company’s stock in a transaction on Friday, January 16th. The stock was sold at an average price of $132.70, for a total transaction of $4,830,280.00. Following the completion of the sale, the chief executive officer directly owned 140,407 shares in the company, valued at $18,632,008.90. This represents a 20.59% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. 4.80% of the stock is owned by company insiders.

Institutional Investors Weigh In On Neurocrine Biosciences

A number of hedge funds have recently made changes to their positions in the stock. AlTi Global Inc. lifted its stake in shares of Neurocrine Biosciences by 1.0% during the 3rd quarter. AlTi Global Inc. now owns 6,828 shares of the company’s stock worth $959,000 after purchasing an additional 70 shares during the last quarter. Huntington National Bank increased its position in Neurocrine Biosciences by 12.6% during the 4th quarter. Huntington National Bank now owns 678 shares of the company’s stock valued at $96,000 after buying an additional 76 shares in the last quarter. Vanguard Personalized Indexing Management LLC increased its position in Neurocrine Biosciences by 0.7% during the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 11,112 shares of the company’s stock valued at $1,560,000 after buying an additional 77 shares in the last quarter. Perigon Wealth Management LLC increased its position in Neurocrine Biosciences by 3.1% during the 4th quarter. Perigon Wealth Management LLC now owns 2,590 shares of the company’s stock valued at $367,000 after buying an additional 78 shares in the last quarter. Finally, Motley Fool Asset Management LLC increased its position in Neurocrine Biosciences by 4.8% during the 4th quarter. Motley Fool Asset Management LLC now owns 1,693 shares of the company’s stock valued at $240,000 after buying an additional 78 shares in the last quarter. 92.59% of the stock is currently owned by hedge funds and other institutional investors.

Key Headlines Impacting Neurocrine Biosciences

Here are the key news stories impacting Neurocrine Biosciences this week:

• Positive Sentiment: Several analysts boosted ratings and price targets on NBIX, citing the Soleno deal and VYKAT XR upside — examples include Canaccord raising its target to $200 (buy), HC Wainwright to $215 (buy), Wedbush to $166 (outperform), Bank of America to $199 (buy) and Needham reaffirming buy at $185. These upgrades signal Wall Street sees meaningful revenue and strategic upside from the acquisition. Benzinga Ticker Report TipRanks / BofA note
• Neutral Sentiment: Neurocrine agreed to acquire Soleno Therapeutics for about $2.9 billion in cash at $53.00/sh, adding VYKAT™ XR (first‑approved therapy for hyperphagia in Prader‑Willi) and expanding into metabolic/endocrinology and rare disease — management highlights potential for a durable growth platform and will host a conference call to discuss details. PR Newswire Reuters
• Negative Sentiment: Investors pushed NBIX lower after the announcement — reasons include the hefty cash outlay, integration and execution risk, and analyst caution about a near‑term pipeline lull; BMO kept a Hold at $140, highlighting offsetting risks despite the acquisition thesis. The market reaction also reflects Soleno shares jumping sharply on the premium while acquirer NBIX retrenched. TipRanks / BMO note Barron’s

Neurocrine Biosciences Company Profile

Neurocrine Biosciences (NASDAQ: NBIX) is a biopharmaceutical company based in San Diego, California, focused on developing treatments for neurological, endocrine and neuropsychiatric disorders. Since its founding in 1992, the company has pursued a research‐driven strategy aimed at addressing unmet medical needs in movement disorders, reproductive health and central nervous system conditions. Neurocrine’s operations encompass drug discovery, clinical development and commercialization activities.

The company’s lead marketed product, Ingrezza™ (valbenazine), is indicated for the treatment of tardive dyskinesia, a movement disorder associated with long-term antipsychotic use.