Neurocrine Biosciences, Inc. (NASDAQ:NBIX) Receives $158.68 Consensus PT from Brokerages

Shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) have been given a consensus recommendation of “Moderate Buy” by the twenty-four analysts that are covering the stock, MarketBeat.com reports. Six investment analysts have rated the stock with a hold recommendation, seventeen have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $161.32.

Several research firms have recently commented on NBIX. Morgan Stanley upped their price target on shares of Neurocrine Biosciences from $160.00 to $170.00 and gave the stock an “overweight” rating in a research report on Friday, July 12th. Barclays raised their price target on shares of Neurocrine Biosciences from $169.00 to $180.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Evercore ISI started coverage on Neurocrine Biosciences in a research report on Tuesday, May 14th. They set an “outperform” rating and a $175.00 price objective for the company. UBS Group increased their price objective on Neurocrine Biosciences from $174.00 to $193.00 and gave the stock a “buy” rating in a report on Tuesday, May 28th. Finally, JPMorgan Chase & Co. lifted their target price on Neurocrine Biosciences from $173.00 to $181.00 and gave the company an “overweight” rating in a research note on Wednesday, August 7th.

Neurocrine Biosciences Stock Up 0.2 %

Shares of NASDAQ NBIX opened at $152.81 on Friday. The stock has a market capitalization of $15.38 billion, a P/E ratio of 42.10 and a beta of 0.37. The firm’s 50-day moving average price is $143.56 and its two-hundred day moving average price is $139.26. Neurocrine Biosciences has a 52-week low of $103.63 and a 52-week high of $157.98.

Neurocrine Biosciences (NASDAQ:NBIX) last released its quarterly earnings data 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). Neurocrine Biosciences had a net margin of 16.00% and a return on equity of 14.86%. The company had revenue of $590.20 million for the quarter, compared to analyst estimates of $545.98 million. During the same quarter in the prior year, the firm earned $0.95 EPS. The company’s revenue for the quarter was up 30.4% compared to the same quarter last year. As a group, equities research analysts expect that Neurocrine Biosciences will post 4.22 earnings per share for the current year.

Insider Buying and Selling

In other Neurocrine Biosciences news, Director Stephen A. Sherwin sold 40,000 shares of the firm’s stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $133.46, for a total value of $5,338,400.00. Following the completion of the transaction, the director now directly owns 26,504 shares in the company, valued at $3,537,223.84. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, insider Julie Cooke sold 900 shares of Neurocrine Biosciences stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $150.04, for a total transaction of $135,036.00. Following the transaction, the insider now owns 18,202 shares in the company, valued at $2,731,028.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Stephen A. Sherwin sold 40,000 shares of the stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $133.46, for a total value of $5,338,400.00. Following the completion of the sale, the director now directly owns 26,504 shares of the company’s stock, valued at $3,537,223.84. The disclosure for this sale can be found here. In the last quarter, insiders have sold 111,798 shares of company stock valued at $16,014,496. 4.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Neurocrine Biosciences

A number of large investors have recently made changes to their positions in the business. Cetera Investment Advisers grew its position in Neurocrine Biosciences by 7.9% during the second quarter. Cetera Investment Advisers now owns 7,112 shares of the company’s stock valued at $979,000 after purchasing an additional 519 shares in the last quarter. Susquehanna Fundamental Investments LLC acquired a new stake in shares of Neurocrine Biosciences during the 2nd quarter valued at $509,000. Lion Point Capital LP grew its holdings in shares of Neurocrine Biosciences by 11.3% during the 2nd quarter. Lion Point Capital LP now owns 8,350 shares of the company’s stock valued at $1,150,000 after acquiring an additional 850 shares in the last quarter. The Manufacturers Life Insurance Company increased its stake in shares of Neurocrine Biosciences by 0.9% in the second quarter. The Manufacturers Life Insurance Company now owns 125,401 shares of the company’s stock worth $17,264,000 after acquiring an additional 1,074 shares during the last quarter. Finally, MBB Public Markets I LLC purchased a new stake in shares of Neurocrine Biosciences during the second quarter worth $982,000. 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.