Neurocrine Biosciences (NASDAQ:NBIX) Price Target Increased to $170.00 by Analysts at Guggenheim

Neurocrine Biosciences (NASDAQ:NBIX) had its price objective upped by Guggenheim from $164.00 to $170.00 in a report issued on Thursday, Benzinga reports. They currently have a buy rating on the stock.

A number of other research firms have also recently issued reports on NBIX. JPMorgan Chase & Co. lifted their target price on Neurocrine Biosciences from $148.00 to $158.00 and gave the company an overweight rating in a research report on Wednesday, March 20th. HC Wainwright upped their price objective on shares of Neurocrine Biosciences from $150.00 to $160.00 and gave the stock a buy rating in a research report on Thursday. Mizuho raised 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. Wells Fargo & Company upgraded shares of Neurocrine Biosciences from an equal weight rating to an overweight rating and upped their price target for the stock from $140.00 to $170.00 in a report on Wednesday, April 24th. Finally, StockNews.com raised Neurocrine Biosciences from a buy rating to a strong-buy rating in a report on Thursday, February 8th. Six investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to MarketBeat, Neurocrine Biosciences presently has a consensus rating of Moderate Buy and a consensus price target of $147.88.

Neurocrine Biosciences Stock Up 0.6 %

NBIX stock opened at $140.71 on Thursday. The company’s 50-day moving average price is $137.37 and its two-hundred day moving average price is $129.00. The firm has a market cap of $14.16 billion, a P/E ratio of 38.76 and a beta of 0.28. Neurocrine Biosciences has a 12 month low of $89.04 and a 12 month high of $148.37.

Neurocrine Biosciences (NASDAQ:NBIX) last announced its quarterly earnings data on Wednesday, February 7th. The company reported $1.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $518.52 million. During the same period last year, the firm posted $0.88 earnings per share. The firm’s quarterly revenue was up 25.0% compared to the same quarter last year. Equities analysts predict that Neurocrine Biosciences will post 4.78 EPS for the current year.

Insider Transactions at Neurocrine Biosciences

In related news, insider David W. Boyer sold 1,328 shares of the company’s stock in a transaction dated 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 owns 4,895 shares in the company, valued at approximately $662,831.95. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, insider Ingrid Delaet sold 200 shares of the business’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $140.00, for a total transaction of $28,000.00. Following the transaction, the insider now owns 7,507 shares in the company, valued at approximately $1,050,980. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider David W. Boyer sold 1,328 shares of the firm’s stock in a transaction 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 completion of the sale, 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 ninety days, insiders sold 181,547 shares of company stock valued at $25,039,887. Corporate insiders own 4.30% of the company’s stock.

Hedge Funds Weigh In On Neurocrine Biosciences

Several institutional investors have recently made changes to their positions in NBIX. Vanguard Group Inc. grew its stake 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 valued at $1,279,433,000 after buying an additional 150,485 shares during the period. DSM Capital Partners LLC grew its stake 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. increased its holdings in shares of Neurocrine Biosciences by 2.2% during the fourth quarter. Brown Advisory Inc. now owns 1,113,413 shares of the company’s stock valued at $146,703,000 after acquiring an additional 23,831 shares in the last quarter. Braidwell LP raised its position in shares of Neurocrine Biosciences by 3.7% during the third quarter. Braidwell LP now owns 968,024 shares of the company’s stock worth $108,903,000 after purchasing an additional 34,662 shares during the period. Finally, Los Angeles Capital Management LLC lifted 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 in the last quarter. 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.