Neurocrine Biosciences (NASDAQ:NBIX) Price Target Raised to $220.00

Neurocrine Biosciences (NASDAQ:NBIX) had its price objective boosted by Canaccord Genuity Group from $210.00 to $220.00 in a research report report published on Tuesday morning,Benzinga reports. Canaccord Genuity Group currently has a buy rating on the stock.

A number of other equities analysts also recently issued reports on NBIX. BMO Capital Markets dropped their price target on Neurocrine Biosciences from $164.00 to $150.00 and set a “market perform” rating on the stock in a research report on Monday, October 12th. UBS Group decreased their price objective on Neurocrine Biosciences from $231.00 to $214.00 and set a “buy” rating for the company in a report on Tuesday, September 29th. Truist Financial upped their price objective on shares of Neurocrine Biosciences from $200.00 to $213.00 and gave the stock a “buy” rating in a research note on Monday, August 3rd. Citigroup increased their target price on shares of Neurocrine Biosciences from $249.00 to $253.00 and gave the stock a “buy” rating in a report on Thursday, September 3rd. Finally, TD Cowen raised their target price on shares of Neurocrine Biosciences from $200.00 to $220.00 and gave the company a “buy” rating in a research report on Friday, July 31st. One research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, Neurocrine Biosciences presently has a consensus rating of “Moderate Buy” and a consensus target price of $202.32.

Neurocrine Biosciences Price Performance

NBIX stock opened at $159.76 on Tuesday. Neurocrine Biosciences has a 12 month low of $122.14 and a 12 month high of $186.12. The firm’s 50-day moving average is $147.04 and its 200 day moving average is $147.90. The company has a market capitalization of $16.17 billion, a PE ratio of 20.81, a P/E/G ratio of 0.74 and a beta of 0.36.

Neurocrine Biosciences (NASDAQ:NBIX) last released its quarterly earnings data on Monday, November 2nd. The company reported $3.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.91 by $1.38. The company had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.04 billion. Neurocrine Biosciences had a net margin of 18.98% and a return on equity of 23.39%. The firm’s quarterly revenue was up 41.3% on a year-over-year basis. During the same period in the previous year, the company earned $2.04 EPS. Sell-side analysts forecast that Neurocrine Biosciences will post 7.66 EPS for the current fiscal year.

Insider Activity

In other Neurocrine Biosciences news, CFO Matt Abernethy sold 2,311 shares of Neurocrine Biosciences stock in a transaction on Monday, September 14th. The shares were sold at an average price of $157.20, for a total value of $363,289.20. Following the transaction, the chief financial officer directly owned 42,808 shares of the company’s stock, valued at approximately $6,729,417.60. The trade was a 5.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director George Morrow sold 7,200 shares of Neurocrine Biosciences stock in a transaction on Tuesday, November 3rd. The stock was sold at an average price of $166.37, for a total transaction of $1,197,864.00. Following the completion of the transaction, the director directly owned 10,386 shares in the company, valued at $1,727,918.82. This represents a 40.94% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 18,137 shares of company stock worth $2,829,332. Corporate insiders own 4.60% of the company’s stock.

Institutional Trading of Neurocrine Biosciences

Institutional investors have recently made changes to their positions in the business. Parallel Advisors LLC raised its position in Neurocrine Biosciences by 3.5% in the 3rd quarter. Parallel Advisors LLC now owns 1,780 shares of the company’s stock valued at $252,000 after purchasing an additional 61 shares during the last quarter. NewEdge Advisors LLC grew its position in Neurocrine Biosciences by 0.5% during the 1st quarter. NewEdge Advisors LLC now owns 13,066 shares of the company’s stock worth $1,721,000 after purchasing an additional 68 shares during the last quarter. Entrust Financial LLC increased its stake in Neurocrine Biosciences by 62.9% in the third quarter. Entrust Financial LLC now owns 202 shares of the company’s stock valued at $29,000 after purchasing an additional 78 shares during the period. Keybank National Association OH increased its stake in Neurocrine Biosciences by 4.7% in the third quarter. Keybank National Association OH now owns 2,001 shares of the company’s stock valued at $284,000 after purchasing an additional 89 shares during the period. Finally, Westpac Banking Corp raised its holdings in shares of Neurocrine Biosciences by 6.0% in the first quarter. Westpac Banking Corp now owns 1,615 shares of the company’s stock valued at $213,000 after buying an additional 91 shares during the last quarter. Institutional investors and hedge funds own 92.59% of the company’s stock.

More Neurocrine Biosciences News

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

• Positive Sentiment: Neurocrine reported third-quarter revenue of $1.12 billion, up 41% year over year and above estimates, with EPS of $3.29 versus a $1.91 consensus. The company also raised its 2026 INGREZZA net-sales outlook to $2.9–$2.925 billion, reinforcing the growth case for its leading product. Q3 results and outlook
• Positive Sentiment: New survey findings showed fewer work or school disruptions among adults with tardive dyskinesia after starting INGREZZA: the share reporting disruptions fell from 57% to 21%, and average missed days declined from 5.6 to 2.0 per month. The results may bolster confidence in the treatment’s patient benefits. INGREZZA survey findings
• Positive Sentiment: Analysts raised price targets following the earnings report, including Morgan Stanley, Canaccord Genuity, RBC and Piper Sandler. Guggenheim also lifted its target to $224 and maintained a Buy rating, adding to the supportive analyst backdrop. Guggenheim rating
• Neutral Sentiment: After a sharp post-earnings advance, some investors may be taking profits, which could weigh on the shares despite the strong operating update. A director’s sale of 300 shares was made under a pre-arranged trading plan and appears small relative to his remaining holdings.
• Negative Sentiment: A report flagged potential integration challenges and legacy liabilities related to Neurocrine’s Soleno acquisition, risks that could complicate the expected value from the deal. Soleno acquisition risks

About Neurocrine Biosciences

Neurocrine Biosciences, Inc is a San Diego-based biopharmaceutical company focused on discovering, developing and commercializing medicines for neurological, neuroendocrine and psychiatric disorders. The company’s research programs target conditions in which treatments may address significant unmet medical needs.

Neurocrine’s leading product is INGREZZA (valbenazine), a vesicular monoamine transporter 2 inhibitor approved in the United States for the treatment of tardive dyskinesia and chorea associated with Huntington’s disease.