Neurocrine Biosciences (NASDAQ:NBIX) Price Target Raised to $138.00

Neurocrine Biosciences (NASDAQ:NBIX) had its price target increased by BMO Capital Markets from $129.00 to $138.00 in a report published on Thursday, Benzinga reports. BMO Capital Markets currently has a market perform rating on the stock.

Several other research analysts have also recently issued reports on NBIX. 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 report on Thursday. Needham & Company LLC reaffirmed a hold rating on shares of Neurocrine Biosciences in a research note on Wednesday. Citigroup dropped their price objective on Neurocrine Biosciences from $141.00 to $140.00 and set a neutral rating on the stock in a research note on Thursday, February 8th. Barclays upped their price target on shares of Neurocrine Biosciences from $145.00 to $150.00 and gave the company an overweight rating in a report on Tuesday, January 23rd. Finally, Wells Fargo & Company raised shares of Neurocrine Biosciences from an equal weight rating to an overweight rating and lifted their price objective for the stock from $140.00 to $170.00 in a research note on Wednesday, April 24th. Six analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of Moderate Buy and an average target price of $147.88.

Neurocrine Biosciences Trading Up 0.6 %

NBIX traded up $0.88 during trading hours on Thursday, hitting $140.71. The company’s stock had a trading volume of 616,567 shares, compared to its average volume of 795,508. Neurocrine Biosciences has a fifty-two week low of $89.04 and a fifty-two week high of $148.37. The company has a 50-day simple moving average of $137.37 and a 200 day simple moving average of $128.88. The firm has a market capitalization of $14.16 billion, a PE ratio of 38.76 and a beta of 0.28.

Neurocrine Biosciences (NASDAQ:NBIX) last issued its quarterly earnings data on Wednesday, February 7th. The company reported $1.44 earnings per share for the quarter, beating analysts’ consensus estimates of $1.13 by $0.31. The business had revenue of $515.20 million for the quarter, compared to analysts’ expectations of $518.52 million. Neurocrine Biosciences had a net margin of 18.65% and a return on equity of 17.45%. The company’s revenue was up 25.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.88 earnings per share. Research analysts expect that Neurocrine Biosciences will post 4.78 earnings per share for the current fiscal year.

Insider Transactions at Neurocrine Biosciences

In other Neurocrine Biosciences news, Director Richard F. Pops sold 15,000 shares of Neurocrine Biosciences stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $132.47, for a total transaction of $1,987,050.00. Following the completion of the sale, the director now owns 29,512 shares of the company’s stock, valued at approximately $3,909,454.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, Director Richard F. Pops sold 1,700 shares of the business’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $140.05, for a total value of $238,085.00. Following the completion of the sale, the director now owns 29,512 shares of the company’s stock, valued at approximately $4,133,155.60. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Richard F. Pops sold 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $132.47, for a total transaction of $1,987,050.00. Following the transaction, the director now directly owns 29,512 shares in the company, valued at approximately $3,909,454.64. The disclosure for this sale can be found here. Insiders sold 181,547 shares of company stock valued at $25,039,887 over the last three months. 4.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Neurocrine Biosciences

A number of large investors have recently bought and sold shares of NBIX. Vanguard Group Inc. raised its holdings in Neurocrine Biosciences by 1.6% during the fourth quarter. Vanguard Group Inc. now owns 9,710,328 shares of the company’s stock valued at $1,279,433,000 after buying an additional 150,485 shares in the last quarter. DSM Capital Partners LLC increased its holdings in shares of Neurocrine Biosciences by 15.4% during the 3rd quarter. DSM Capital Partners LLC now owns 1,224,017 shares of the company’s stock valued at $137,702,000 after acquiring an additional 163,747 shares during the last quarter. Brown Advisory Inc. raised its stake in shares of Neurocrine Biosciences by 2.2% in the 4th quarter. Brown Advisory Inc. now owns 1,113,413 shares of the company’s stock valued at $146,703,000 after acquiring an additional 23,831 shares in the last quarter. Braidwell LP lifted its holdings in Neurocrine Biosciences by 3.7% in the 3rd quarter. Braidwell LP now owns 968,024 shares of the company’s stock worth $108,903,000 after purchasing an additional 34,662 shares during the last quarter. Finally, Los Angeles Capital Management LLC boosted its position in Neurocrine Biosciences by 66.0% during the fourth quarter. Los Angeles Capital Management LLC now owns 918,391 shares of the company’s stock worth $121,007,000 after purchasing an additional 364,986 shares during the period. 92.59% of the stock is currently owned by institutional investors.

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.