Analysts Set Neurocrine Biosciences, Inc. (NASDAQ:NBIX) Price Target at $162.20

Neurocrine Biosciences, Inc. (NASDAQ:NBIX) has been assigned an average rating of “Moderate Buy” from the twenty-four brokerages that are presently covering the stock, MarketBeat Ratings reports. Five research analysts have rated the stock with a hold recommendation, eighteen have given a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $162.20.

A number of research firms have recently weighed in on NBIX. StockNews.com raised Neurocrine Biosciences from a “buy” rating to a “strong-buy” rating in a report on Sunday, August 4th. Needham & Company LLC reiterated a “hold” rating on shares of Neurocrine Biosciences in a research note on Thursday, August 29th. Robert W. Baird raised their price objective on shares of Neurocrine Biosciences from $157.00 to $180.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. UBS Group raised their price objective on shares of Neurocrine Biosciences from $174.00 to $193.00 and gave the company a “buy” rating in a research note on Tuesday, May 28th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Neurocrine Biosciences from $173.00 to $181.00 and gave the company an “overweight” rating in a research note on Wednesday, August 7th.

Insider Buying and Selling at Neurocrine Biosciences

In other Neurocrine Biosciences news, insider Julie Cooke sold 10,000 shares of Neurocrine Biosciences stock in a transaction on Monday, July 1st. The shares were sold at an average price of $140.19, for a total transaction of $1,401,900.00. Following the completion of the sale, the insider now owns 18,202 shares of the company’s stock, valued at approximately $2,551,738.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, insider Julie Cooke sold 10,000 shares of Neurocrine Biosciences stock in a transaction on Monday, July 1st. The shares were sold at an average price of $140.19, for a total value of $1,401,900.00. Following the completion of the sale, the insider now owns 18,202 shares of the company’s stock, valued at approximately $2,551,738.38. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director William H. Rastetter sold 14,250 shares of Neurocrine Biosciences stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $146.69, for a total transaction of $2,090,332.50. Following the completion of the sale, the director now directly owns 37,491 shares of the company’s stock, valued at approximately $5,499,554.79. The disclosure for this sale can be found here. Insiders sold 71,798 shares of company stock valued at $10,676,096 in the last quarter. Company insiders own 4.30% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in NBIX. International Assets Investment Management LLC raised its position in Neurocrine Biosciences by 7,880.3% in the fourth quarter. International Assets Investment Management LLC now owns 5,666 shares of the company’s stock worth $747,000 after purchasing an additional 5,595 shares in the last quarter. Principal Securities Inc. acquired a new stake in shares of Neurocrine Biosciences during the fourth quarter worth approximately $75,000. QRG Capital Management Inc. increased its holdings in shares of Neurocrine Biosciences by 13.1% during the fourth quarter. QRG Capital Management Inc. now owns 14,526 shares of the company’s stock worth $1,914,000 after buying an additional 1,685 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Neurocrine Biosciences by 1.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 336,536 shares of the company’s stock worth $44,343,000 after buying an additional 5,907 shares in the last quarter. Finally, Envestnet Portfolio Solutions Inc. grew its stake in shares of Neurocrine Biosciences by 3.2% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 2,530 shares of the company’s stock valued at $333,000 after purchasing an additional 78 shares during the last quarter. Institutional investors and hedge funds own 92.59% of the company’s stock.

Neurocrine Biosciences Price Performance

Shares of NASDAQ NBIX opened at $122.25 on Thursday. The firm’s 50-day moving average price is $140.55 and its two-hundred day moving average price is $138.56. Neurocrine Biosciences has a 52-week low of $103.63 and a 52-week high of $157.98. The stock has a market capitalization of $12.30 billion, a P/E ratio of 33.68 and a beta of 0.37.

Neurocrine Biosciences (NASDAQ:NBIX) last released its quarterly earnings results on Thursday, August 1st. The company reported $0.63 earnings per share for the quarter, missing analysts’ consensus estimates of $1.15 by ($0.52). The business had revenue of $590.20 million for the quarter, compared to the consensus estimate of $545.98 million. Neurocrine Biosciences had a net margin of 16.00% and a return on equity of 14.86%. The business’s quarterly revenue was up 30.4% on a year-over-year basis. During the same period last year, the firm posted $0.95 EPS. As a group, equities research analysts expect that Neurocrine Biosciences will post 4.19 earnings per share for the current year.

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.