Neurocrine Biosciences (NASDAQ:NBIX) Price Target Raised to $180.00

Neurocrine Biosciences (NASDAQ:NBIX) had its price objective lifted by Robert W. Baird from $157.00 to $180.00 in a report released on Friday morning, Benzinga reports. They currently have an outperform rating on the stock.

Other research analysts have also recently issued research reports about the company. Wells Fargo & Company upgraded Neurocrine Biosciences from an equal weight rating to an overweight rating and boosted their price objective for the stock from $140.00 to $170.00 in a research note on Wednesday, April 24th. Guggenheim boosted their price objective on Neurocrine Biosciences from $164.00 to $170.00 and gave the company a buy rating in a report on Thursday, May 2nd. Canaccord Genuity Group boosted their price objective on Neurocrine Biosciences from $154.00 to $164.00 and gave the company a buy rating in a report on Thursday, May 2nd. Morgan Stanley boosted their price objective on Neurocrine Biosciences from $160.00 to $170.00 and gave the company an overweight rating in a report on Friday, July 12th. Finally, UBS Group boosted their price objective on Neurocrine Biosciences from $174.00 to $193.00 and gave the company a buy rating in a report on Tuesday, May 28th. Six equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, Neurocrine Biosciences has an average rating of Moderate Buy and an average target price of $157.16.

Neurocrine Biosciences Stock Performance

Neurocrine Biosciences stock traded down $4.94 during midday trading on Friday, reaching $148.20. The stock had a trading volume of 360,664 shares, compared to its average volume of 822,445. Neurocrine Biosciences has a twelve month low of $100.52 and a twelve month high of $157.98. The stock has a market capitalization of $14.91 billion, a PE ratio of 42.19 and a beta of 0.37. The stock’s 50-day simple moving average is $139.82 and its 200 day simple moving average is $138.46.

Neurocrine Biosciences (NASDAQ:NBIX) last issued its 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). Neurocrine Biosciences had a net margin of 16.00% and a return on equity of 14.86%. The firm had revenue of $590.20 million during the quarter, compared to analyst estimates of $545.98 million. During the same quarter in the previous year, the business posted $0.95 EPS. Neurocrine Biosciences’s revenue was up 30.4% compared to the same quarter last year. Equities analysts predict that Neurocrine Biosciences will post 4.22 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Gary A. Lyons sold 930 shares of the stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $150.03, for a total transaction of $139,527.90. Following the completion of the sale, the director now owns 119,047 shares in the company, valued at approximately $17,860,621.41. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Gary A. Lyons sold 930 shares of the stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $150.03, for a total transaction of $139,527.90. Following the completion of the sale, the director now owns 119,047 shares in the company, valued at approximately $17,860,621.41. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Julie Cooke sold 10,000 shares of the 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 sale, the insider now owns 18,202 shares of the company’s stock, valued at approximately $2,551,738.38. The disclosure for this sale can be found here. Insiders sold 80,436 shares of company stock worth $10,970,780 over the last ninety 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 modified their holdings of NBIX. RFP Financial Group LLC raised its stake in Neurocrine Biosciences by 346.5% during the 1st quarter. RFP Financial Group LLC now owns 192 shares of the company’s stock valued at $26,000 after purchasing an additional 149 shares during the period. Mather Group LLC. acquired a new stake in Neurocrine Biosciences during the 1st quarter valued at $26,000. Lindbrook Capital LLC raised its stake in Neurocrine Biosciences by 85.0% during the 4th quarter. Lindbrook Capital LLC now owns 209 shares of the company’s stock valued at $28,000 after purchasing an additional 96 shares during the period. Innealta Capital LLC acquired a new stake in Neurocrine Biosciences during the 2nd quarter valued at $30,000. Finally, EdgeRock Capital LLC acquired a new stake in Neurocrine Biosciences during the 4th quarter valued at $31,000. Institutional investors and hedge funds 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.