Neurocrine Biosciences (NASDAQ:NBIX) Price Target Raised to $150.00

Neurocrine Biosciences (NASDAQ:NBIX) had its target price increased by research analysts at Citigroup from $140.00 to $150.00 in a research report issued on Friday, Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Citigroup’s target price points to a potential upside of 6.60% from the stock’s current price.

Several other equities analysts also recently commented on NBIX. Barclays boosted their price target on shares of Neurocrine Biosciences from $150.00 to $169.00 and gave the stock an “overweight” rating in a research note on Thursday. JPMorgan Chase & Co. boosted their price objective on Neurocrine Biosciences from $148.00 to $158.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 20th. The Goldman Sachs Group raised their target price on shares of Neurocrine Biosciences from $134.00 to $153.00 and gave the company a “buy” rating in a report on Thursday, January 25th. Oppenheimer increased their price objective on shares of Neurocrine Biosciences from $200.00 to $216.00 and gave the company an “outperform” rating in a research report on Thursday. Finally, StockNews.com downgraded shares of Neurocrine Biosciences from a “strong-buy” rating to a “buy” rating in a research note on Thursday. Six investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. Based on data from MarketBeat, Neurocrine Biosciences presently has an average rating of “Moderate Buy” and an average target price of $147.88.

Neurocrine Biosciences Trading Up 0.6 %

NBIX stock traded up $0.88 during midday trading on Friday, hitting $140.71. 616,566 shares of the company’s stock were exchanged, compared to its average volume of 853,838. Neurocrine Biosciences has a 1-year low of $89.04 and a 1-year high of $148.37. The stock has a market capitalization of $14.00 billion, a PE ratio of 38.76 and a beta of 0.28. The business has a 50-day simple moving average of $137.37 and a two-hundred day simple moving average of $128.78.

Neurocrine Biosciences (NASDAQ:NBIX) last announced its earnings results on Wednesday, February 7th. The company reported $1.44 earnings per share for the quarter, topping the consensus estimate of $1.13 by $0.31. Neurocrine Biosciences had a net margin of 18.65% and a return on equity of 17.45%. The company had revenue of $515.20 million during the quarter, compared to analyst estimates of $518.52 million. During the same quarter last year, the firm posted $0.88 earnings per share. Neurocrine Biosciences’s revenue was up 25.0% compared to the same quarter last year. As a group, research analysts expect that Neurocrine Biosciences will post 4.79 EPS for the current fiscal year.

Insider Transactions at Neurocrine Biosciences

In other Neurocrine Biosciences news, insider David W. Boyer sold 456 shares of the company’s stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $141.96, for a total transaction of $64,733.76. Following the completion of the sale, the insider now directly owns 4,894 shares of the company’s stock, valued at approximately $694,752.24. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, insider Ingrid Delaet sold 200 shares of the firm’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $140.00, for a total value of $28,000.00. Following the completion of the sale, the insider now owns 7,507 shares in the company, valued at approximately $1,050,980. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider David W. Boyer sold 456 shares of Neurocrine Biosciences stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $141.96, for a total transaction of $64,733.76. Following the completion of the sale, the insider now directly owns 4,894 shares in the company, valued at approximately $694,752.24. The disclosure for this sale can be found here. Over the last quarter, insiders sold 181,547 shares of company stock worth $25,039,887. Company insiders own 4.30% of the company’s stock.

Institutional Investors Weigh In On Neurocrine Biosciences

Hedge funds have recently added to or reduced their stakes in the company. FCF Advisors LLC acquired a new position in Neurocrine Biosciences during the fourth quarter worth $1,157,000. abrdn plc increased its holdings in shares of Neurocrine Biosciences by 2,503.0% in the 4th quarter. abrdn plc now owns 83,633 shares of the company’s stock valued at $11,019,000 after purchasing an additional 80,420 shares in the last quarter. Redhawk Wealth Advisors Inc. acquired a new stake in shares of Neurocrine Biosciences in the fourth quarter valued at about $1,245,000. HealthInvest Partners AB purchased a new stake in Neurocrine Biosciences during the fourth quarter worth about $1,662,000. Finally, Roman Butler Fullerton & Co. purchased a new stake in Neurocrine Biosciences during the fourth quarter worth about $1,256,000. Institutional investors and hedge funds own 92.59% of the company’s stock.

About Neurocrine Biosciences

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.