Neurocrine Biosciences (NASDAQ:NBIX) PT Raised to $150.00 at Citigroup

Neurocrine Biosciences (NASDAQ:NBIX) had its price objective lifted by equities research analysts at Citigroup from $140.00 to $150.00 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Citigroup’s price objective indicates a potential upside of 6.60% from the company’s previous close.

A number of other analysts have also issued reports on the stock. Cantor Fitzgerald reissued an “overweight” rating and issued a $155.00 price target on shares of Neurocrine Biosciences in a research report on Wednesday, April 10th. JPMorgan Chase & Co. boosted their price target on shares of Neurocrine Biosciences from $148.00 to $158.00 and gave the company an “overweight” rating in a report on Wednesday, March 20th. Needham & Company LLC reaffirmed a “hold” rating on shares of Neurocrine Biosciences in a research note on Wednesday. HC Wainwright lifted their price objective on Neurocrine Biosciences from $150.00 to $160.00 and gave the company a “buy” rating in a research report on Thursday. Finally, Barclays boosted their target price on Neurocrine Biosciences from $150.00 to $169.00 and gave the company an “overweight” rating in a research note on Thursday. Six research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to MarketBeat.com, Neurocrine Biosciences currently has an average rating of “Moderate Buy” and a consensus target price of $147.88.

Neurocrine Biosciences Stock Performance

NASDAQ NBIX opened at $140.71 on Friday. The firm’s 50 day moving average price is $137.37 and its two-hundred day moving average price is $128.88. The stock has a market cap of $14.16 billion, a price-to-earnings ratio of 38.76 and a beta of 0.28. Neurocrine Biosciences has a twelve month low of $89.04 and a twelve month high of $148.37.

Neurocrine Biosciences (NASDAQ:NBIX) last issued its quarterly earnings results 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 the consensus estimate of $518.52 million. Neurocrine Biosciences had a return on equity of 17.45% and a net margin of 18.65%. Neurocrine Biosciences’s revenue for the quarter was up 25.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.88 earnings per share. On average, research analysts forecast that Neurocrine Biosciences will post 4.78 EPS for the current fiscal year.

Insider Buying and Selling

In other Neurocrine Biosciences news, insider David W. Boyer sold 1,328 shares of Neurocrine Biosciences stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $135.41, for a total value of $179,824.48. Following the transaction, the insider now directly owns 4,895 shares of the company’s stock, valued at approximately $662,831.95. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Neurocrine Biosciences news, insider Ingrid Delaet sold 200 shares of the company’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $140.00, for a total value of $28,000.00. Following the completion of the transaction, the insider now owns 7,507 shares of the company’s stock, valued at approximately $1,050,980. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider David W. Boyer sold 1,328 shares of the company’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $135.41, for a total value of $179,824.48. Following the completion of the transaction, the insider now owns 4,895 shares of the company’s stock, valued at $662,831.95. The disclosure for this sale can be found here. In the last 90 days, insiders sold 181,547 shares of company stock valued at $25,039,887. Insiders own 4.30% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NBIX. Vanguard Group Inc. raised its holdings in shares of Neurocrine Biosciences by 1.6% in the 4th quarter. Vanguard Group Inc. now owns 9,710,328 shares of the company’s stock worth $1,279,433,000 after buying an additional 150,485 shares in the last quarter. DSM Capital Partners LLC grew its position in Neurocrine Biosciences by 15.4% in the third 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 period. Brown Advisory Inc. raised its stake in Neurocrine Biosciences by 2.2% during the fourth quarter. Brown Advisory Inc. now owns 1,113,413 shares of the company’s stock worth $146,703,000 after acquiring an additional 23,831 shares in the last quarter. Braidwell LP boosted its stake in shares of Neurocrine Biosciences by 3.7% in the 3rd quarter. Braidwell LP now owns 968,024 shares of the company’s stock valued at $108,903,000 after purchasing an additional 34,662 shares in the last quarter. Finally, Los Angeles Capital Management LLC grew its holdings in shares of Neurocrine Biosciences by 66.0% in the 4th 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 last quarter. Institutional investors 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.