Neurocrine Biosciences, Inc. (NASDAQ:NBIX) Receives $126.96 Average PT from Brokerages

Shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) have received an average rating of “Moderate Buy” from the twenty-one analysts that are covering the company, Marketbeat reports. Five equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $126.96.

Several research firms have issued reports on NBIX. HC Wainwright upped their price objective on shares of Neurocrine Biosciences from $140.00 to $146.00 and gave the company a “buy” rating in a research note on Monday, August 21st. Robert W. Baird boosted their price objective on Neurocrine Biosciences from $140.00 to $148.00 and gave the company an “outperform” rating in a research note on Wednesday, August 2nd. Cantor Fitzgerald restated an “overweight” rating and set a $136.00 target price on shares of Neurocrine Biosciences in a research report on Tuesday, August 22nd. Mizuho upped their price target on shares of Neurocrine Biosciences from $112.00 to $113.00 and gave the company a “neutral” rating in a research report on Monday, August 21st. Finally, Jefferies Financial Group raised their price objective on shares of Neurocrine Biosciences to $123.00 in a research report on Monday, August 21st.

Neurocrine Biosciences Stock Performance

NASDAQ:NBIX opened at $109.27 on Friday. Neurocrine Biosciences has a 1 year low of $89.04 and a 1 year high of $129.29. The stock has a market cap of $10.67 billion, a P/E ratio of 63.16, a P/E/G ratio of 1.09 and a beta of 0.46. The stock has a 50-day simple moving average of $102.65 and a 200-day simple moving average of $99.54.

Neurocrine Biosciences (NASDAQ:NBIX) last announced its quarterly earnings results on Tuesday, August 1st. The company reported $0.95 EPS for the quarter, beating the consensus estimate of $0.77 by $0.18. The company had revenue of $452.70 million for the quarter, compared to analyst estimates of $448.29 million. Neurocrine Biosciences had a net margin of 10.54% and a return on equity of 10.39%. On average, equities research analysts predict that Neurocrine Biosciences will post 2.17 EPS for the current year.

Insider Activity at Neurocrine Biosciences

In other Neurocrine Biosciences news, insider Jude Onyia sold 3,198 shares of the business’s stock in a transaction on Monday, August 21st. The stock was sold at an average price of $107.37, for a total transaction of $343,369.26. Following the sale, the insider now directly owns 9,638 shares in the company, valued at $1,034,832.06. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Neurocrine Biosciences news, insider Jude Onyia sold 3,198 shares of Neurocrine Biosciences stock in a transaction dated Monday, August 21st. The shares were sold at an average price of $107.37, for a total transaction of $343,369.26. Following the completion of the transaction, the insider now owns 9,638 shares in the company, valued at $1,034,832.06. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Kevin Charles Gorman sold 9,328 shares of the company’s stock in a transaction dated Monday, August 21st. The shares were sold at an average price of $107.40, for a total transaction of $1,001,827.20. Following the completion of the sale, the chief executive officer now directly owns 499,754 shares in the company, valued at approximately $53,673,579.60. The disclosure for this sale can be found here. Insiders sold 24,646 shares of company stock valued at $2,663,790 in the last ninety days. Corporate insiders own 4.40% of the company’s stock.

Hedge Funds Weigh In On Neurocrine Biosciences

Several hedge funds have recently bought and sold shares of NBIX. Rice Hall James & Associates LLC boosted its stake in shares of Neurocrine Biosciences by 195.5% during the first quarter. Rice Hall James & Associates LLC now owns 206,755 shares of the company’s stock valued at $19,383,000 after acquiring an additional 136,782 shares during the last quarter. HighTower Advisors LLC raised its position in shares of Neurocrine Biosciences by 48.8% in the first quarter. HighTower Advisors LLC now owns 5,745 shares of the company’s stock valued at $544,000 after buying an additional 1,883 shares during the last quarter. PNC Financial Services Group Inc. boosted its position in Neurocrine Biosciences by 27.7% during the first quarter. PNC Financial Services Group Inc. now owns 3,150 shares of the company’s stock worth $296,000 after acquiring an additional 684 shares during the last quarter. Acadian Asset Management LLC acquired a new stake in Neurocrine Biosciences during the first quarter worth approximately $27,000. Finally, Dimensional Fund Advisors LP grew its stake in Neurocrine Biosciences by 39.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 417,604 shares of the company’s stock worth $39,148,000 after acquiring an additional 117,422 shares during the period. Hedge funds and other institutional investors own 93.54% of the company’s stock.

Neurocrine Biosciences Company Profile

Neurocrine Biosciences, Inc discovers, develops, and markets pharmaceuticals for neurological, endocrine, and psychiatric disorders. The company's portfolio includes treatments for tardive dyskinesia, Parkinson's disease, endometriosis, and uterine fibroids, as well as clinical programs in various therapeutic areas.