Neurocrine Biosciences (NASDAQ:NBIX) Given New $163.00 Price Target at Guggenheim

Neurocrine Biosciences (NASDAQ:NBIX) had its price target decreased by stock analysts at Guggenheim from $165.00 to $163.00 in a research note issued on Monday,Benzinga reports. The firm currently has a “buy” rating on the stock. Guggenheim’s price objective points to a potential upside of 39.50% from the company’s current price.

Several other analysts have also recently commented on NBIX. UBS Group raised their price target on Neurocrine Biosciences from $162.00 to $176.00 and gave the company a “buy” rating in a report on Thursday, January 30th. BMO Capital Markets decreased their target price on shares of Neurocrine Biosciences from $128.00 to $114.00 and set a “market perform” rating on the stock in a research report on Thursday, October 17th. Bank of America lowered their price target on shares of Neurocrine Biosciences from $184.00 to $179.00 and set a “buy” rating on the stock in a research note on Friday, February 7th. Barclays raised their price objective on shares of Neurocrine Biosciences from $160.00 to $165.00 and gave the company an “overweight” rating in a research note on Monday, December 23rd. Finally, StockNews.com cut shares of Neurocrine Biosciences from a “strong-buy” rating to a “buy” rating in a report on Friday, November 1st. Five research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $166.90.

Neurocrine Biosciences Stock Performance

Shares of Neurocrine Biosciences stock opened at $116.85 on Monday. Neurocrine Biosciences has a one year low of $110.95 and a one year high of $157.98. The company has a market cap of $11.83 billion, a P/E ratio of 35.52 and a beta of 0.33. The firm has a fifty day moving average of $138.66 and a two-hundred day moving average of $131.23.

Neurocrine Biosciences (NASDAQ:NBIX) last posted its quarterly earnings results on Thursday, February 6th. The company reported $1.00 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.62 by ($0.62). Neurocrine Biosciences had a return on equity of 13.45% and a net margin of 14.49%. As a group, equities analysts predict that Neurocrine Biosciences will post 6.53 earnings per share for the current year.

Insiders Place Their Bets

In other Neurocrine Biosciences news, insider Ingrid Delaet sold 1,091 shares of the business’s stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $135.00, for a total value of $147,285.00. Following the completion of the transaction, the insider now directly owns 2,507 shares in the company, valued at approximately $338,445. The trade was a 30.32 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Matt Abernethy sold 1,283 shares of the firm’s stock in a transaction on Friday, January 31st. The stock was sold at an average price of $152.87, for a total value of $196,132.21. Following the sale, the chief financial officer now owns 32,681 shares in the company, valued at $4,995,944.47. This trade represents a 3.78 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 222,693 shares of company stock valued at $32,718,279 in the last ninety days. Insiders own 4.30% of the company’s stock.

Hedge Funds Weigh In On Neurocrine Biosciences

Several large investors have recently added to or reduced their stakes in NBIX. Golden State Wealth Management LLC purchased a new stake in Neurocrine Biosciences in the 4th quarter valued at about $25,000. Brooklyn Investment Group grew its holdings in Neurocrine Biosciences by 99.1% in the fourth quarter. Brooklyn Investment Group now owns 231 shares of the company’s stock valued at $32,000 after purchasing an additional 115 shares during the period. Blue Trust Inc. increased its position in Neurocrine Biosciences by 171.9% during the third quarter. Blue Trust Inc. now owns 348 shares of the company’s stock worth $40,000 after purchasing an additional 220 shares during the last quarter. Lindbrook Capital LLC raised its stake in Neurocrine Biosciences by 53.5% during the fourth quarter. Lindbrook Capital LLC now owns 373 shares of the company’s stock worth $51,000 after purchasing an additional 130 shares during the period. Finally, R Squared Ltd acquired a new position in shares of Neurocrine Biosciences in the 4th quarter valued at $61,000. 92.59% of the stock is currently 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.