Neurocrine Biosciences (NASDAQ:NBIX) Price Target Raised to $169.00

Neurocrine Biosciences (NASDAQ:NBIX) had its price objective increased by Barclays from $150.00 to $169.00 in a research note published on Thursday morning, Benzinga reports. Barclays currently has an overweight rating on the stock.

Several other brokerages have also commented on NBIX. BMO Capital Markets raised their price objective on Neurocrine Biosciences from $129.00 to $138.00 and gave the company a market perform rating in a report on Thursday. Mizuho boosted their price target on shares of Neurocrine Biosciences from $116.00 to $140.00 and gave the stock a neutral rating in a report on Thursday, February 8th. Cantor Fitzgerald reaffirmed an overweight rating and set a $155.00 price objective on shares of Neurocrine Biosciences in a report on Wednesday, April 10th. Needham & Company LLC restated a hold rating on shares of Neurocrine Biosciences in a research report on Wednesday, May 1st. Finally, The Goldman Sachs Group lifted their price objective on Neurocrine Biosciences from $134.00 to $153.00 and gave the stock a buy rating in a report on Thursday, January 25th. Six analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of Moderate Buy and a consensus price target of $147.88.

Neurocrine Biosciences Stock Performance

Shares of NASDAQ NBIX opened at $140.71 on Thursday. The company has a market capitalization of $14.16 billion, a PE ratio of 38.76 and a beta of 0.28. The company’s fifty day moving average price is $137.37 and its 200 day moving average price is $129.00. Neurocrine Biosciences has a 1 year low of $89.04 and a 1 year high of $148.37.

Neurocrine Biosciences (NASDAQ:NBIX) last posted its earnings results on Wednesday, February 7th. The company reported $1.44 earnings per share (EPS) 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 business had revenue of $515.20 million for the quarter, compared to analyst estimates of $518.52 million. During the same period in the prior year, the company posted $0.88 EPS. The company’s revenue for the quarter was up 25.0% on a year-over-year basis. On average, equities analysts expect that Neurocrine Biosciences will post 4.78 EPS for the current year.

Insider Activity

In other news, Director Richard F. Pops sold 15,000 shares of Neurocrine Biosciences 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 sale, the director now owns 29,512 shares of the company’s stock, valued at approximately $3,909,454.64. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, insider Ingrid Delaet sold 200 shares of the firm’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $140.00, for a total transaction of $28,000.00. Following the completion of the sale, the insider now directly owns 7,507 shares of the company’s stock, valued at approximately $1,050,980. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Richard F. Pops sold 15,000 shares of the company’s stock in a transaction dated 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 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 a total of 181,547 shares of company stock valued at $25,039,887 in the last 90 days. Company insiders own 4.30% of the company’s stock.

Institutional Investors Weigh In On Neurocrine Biosciences

A number of institutional investors and hedge funds have recently made changes to their positions in NBIX. Vanguard Group Inc. increased its holdings in Neurocrine Biosciences by 1.6% in the 4th quarter. Vanguard Group Inc. now owns 9,710,328 shares of the company’s stock valued at $1,279,433,000 after purchasing an additional 150,485 shares during the last quarter. DSM Capital Partners LLC grew its stake in shares of 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 buying an additional 163,747 shares in the last quarter. Brown Advisory Inc. raised its holdings 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 buying an additional 23,831 shares during the period. Braidwell LP lifted its stake in Neurocrine Biosciences by 3.7% during the 3rd quarter. Braidwell LP now owns 968,024 shares of the company’s stock worth $108,903,000 after acquiring an additional 34,662 shares in the last quarter. Finally, Los Angeles Capital Management LLC boosted its holdings in Neurocrine Biosciences by 66.0% during the 4th quarter. Los Angeles Capital Management LLC now owns 918,391 shares of the company’s stock valued at $121,007,000 after acquiring an additional 364,986 shares during the period. 92.59% of the stock is owned by hedge funds and other 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.