BMO Capital Markets Increases Neurocrine Biosciences (NASDAQ:NBIX) Price Target to $138.00

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

A number of other research analysts also recently issued reports on the stock. Mizuho boosted their target price on shares of Neurocrine Biosciences from $116.00 to $140.00 and gave the company a neutral rating in a research report on Thursday, February 8th. HC Wainwright boosted their price objective on Neurocrine Biosciences from $150.00 to $160.00 and gave the company a buy rating in a report on Thursday. Cantor Fitzgerald reaffirmed an overweight rating and set a $155.00 target price on shares of Neurocrine Biosciences in a report on Wednesday, April 10th. Citigroup decreased their price target on Neurocrine Biosciences from $141.00 to $140.00 and set a neutral rating for the company in a report on Thursday, February 8th. Finally, Barclays raised their price objective on shares of Neurocrine Biosciences from $145.00 to $150.00 and gave the stock an overweight rating in a research note on Tuesday, January 23rd. Six equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus target price of $147.88.

Neurocrine Biosciences Stock Performance

Shares of NBIX stock opened at $140.71 on Thursday. Neurocrine Biosciences has a fifty-two week low of $89.04 and a fifty-two week high of $148.37. The firm has a market capitalization of $14.16 billion, a PE ratio of 38.76 and a beta of 0.28. The stock’s 50-day simple moving average is $137.37 and its 200-day simple moving average is $129.00.

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, 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 for the quarter, compared to the consensus estimate of $518.52 million. During the same quarter in the prior year, the company earned $0.88 EPS. Neurocrine Biosciences’s quarterly revenue was up 25.0% on a year-over-year basis. Sell-side analysts forecast that Neurocrine Biosciences will post 4.78 earnings per share for the current year.

Insider Buying and Selling at Neurocrine Biosciences

In related news, insider David W. Boyer sold 1,328 shares of the stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $135.41, for a total transaction of $179,824.48. Following the completion of the transaction, the insider now owns 4,895 shares of the company’s stock, valued at approximately $662,831.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Eric Benevich sold 75,000 shares of Neurocrine Biosciences stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $139.38, for a total value of $10,453,500.00. Following the completion of the transaction, the insider now owns 40,778 shares in the company, valued at $5,683,637.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider David W. Boyer sold 1,328 shares of the company’s stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $135.41, for a total transaction of $179,824.48. Following the sale, the insider now directly owns 4,895 shares in the company, valued at $662,831.95. The disclosure for this sale can be found here. Insiders sold a total of 181,547 shares of company stock worth $25,039,887 over the last three months. Insiders own 4.30% of the company’s stock.

Institutional Trading of Neurocrine Biosciences

A number of large investors have recently modified their holdings of the stock. Mediolanum International Funds Ltd purchased a new position in Neurocrine Biosciences in the first quarter valued at $1,351,000. BI Asset Management Fondsmaeglerselskab A S increased its stake in shares of Neurocrine Biosciences by 33.4% during the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 4,937 shares of the company’s stock worth $681,000 after buying an additional 1,235 shares during the period. Central Pacific Bank Trust Division acquired a new stake in Neurocrine Biosciences in the first quarter valued at approximately $891,000. Daiwa Securities Group Inc. lifted its stake in Neurocrine Biosciences by 32.5% in the first quarter. Daiwa Securities Group Inc. now owns 8,590 shares of the company’s stock worth $1,185,000 after acquiring an additional 2,109 shares during the last quarter. Finally, Fidelis Capital Partners LLC acquired a new position in Neurocrine Biosciences during the 1st quarter worth approximately $99,000. Hedge funds and other institutional investors 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.