Neurocrine Biosciences (NASDAQ:NBIX) Given New $184.00 Price Target at JPMorgan Chase & Co.

Neurocrine Biosciences (NASDAQ:NBIX) had its price objective increased by analysts at JPMorgan Chase & Co. from $183.00 to $184.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 61.40% from the stock’s current price.

NBIX has been the topic of a number of other reports. Royal Bank of Canada reduced their target price on shares of Neurocrine Biosciences from $154.00 to $148.00 and set a “sector perform” rating on the stock in a report on Friday, February 7th. Morgan Stanley reissued an “overweight” rating and issued a $150.00 price objective (down previously from $185.00) on shares of Neurocrine Biosciences in a research note on Friday, March 7th. Bank of America lowered their target price on Neurocrine Biosciences from $184.00 to $179.00 and set a “buy” rating for the company in a research report on Friday, February 7th. Canaccord Genuity Group reduced their price target on Neurocrine Biosciences from $172.00 to $163.00 and set a “buy” rating on the stock in a research report on Friday, February 7th. Finally, Needham & Company LLC restated a “hold” rating on shares of Neurocrine Biosciences in a research report on Friday, February 7th. Five analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $165.38.

Neurocrine Biosciences Stock Down 0.4 %

NASDAQ NBIX opened at $114.00 on Wednesday. The company has a market cap of $11.37 billion, a price-to-earnings ratio of 34.65, a price-to-earnings-growth ratio of 0.77 and a beta of 0.35. Neurocrine Biosciences has a twelve month low of $105.18 and a twelve month high of $157.98. The business’s fifty day moving average is $124.77 and its 200 day moving average is $124.95.

Neurocrine Biosciences (NASDAQ:NBIX) last posted its earnings results on Thursday, February 6th. The company reported $1.00 EPS for the quarter, missing the consensus estimate of $1.62 by ($0.62). Neurocrine Biosciences had a net margin of 14.49% and a return on equity of 13.38%. On average, research analysts anticipate that Neurocrine Biosciences will post 4.28 earnings per share for the current fiscal year.

Neurocrine Biosciences announced that its Board of Directors has approved a share repurchase plan on Friday, February 21st that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the company to repurchase up to 4.2% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling

In other Neurocrine Biosciences news, CFO Matt Abernethy sold 2,558 shares of the company’s stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $116.86, for a total transaction of $298,927.88. Following the transaction, the chief financial officer now owns 34,775 shares in the company, valued at approximately $4,063,806.50. This represents a 6.85 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Ingrid Delaet sold 272 shares of the firm’s stock in a transaction on Tuesday, December 31st. The shares were sold at an average price of $138.10, for a total transaction of $37,563.20. Following the completion of the transaction, the insider now directly owns 2,507 shares in the company, valued at $346,216.70. This trade represents a 9.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 233,178 shares of company stock valued at $33,906,594. 4.30% of the stock is owned by company insiders.

Institutional Trading of Neurocrine Biosciences

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NBIX. Caprock Group LLC bought a new position in shares of Neurocrine Biosciences in the fourth quarter valued at approximately $236,000. Charles Schwab Investment Management Inc. lifted its stake in Neurocrine Biosciences by 2.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 762,557 shares of the company’s stock valued at $104,089,000 after acquiring an additional 15,266 shares in the last quarter. Tri Ri Asset Management Corp bought a new position in Neurocrine Biosciences during the 3rd quarter valued at $3,236,000. Oakworth Capital Inc. purchased a new position in Neurocrine Biosciences during the 4th quarter worth $379,000. Finally, Synergy Asset Management LLC bought a new stake in shares of Neurocrine Biosciences in the 4th quarter worth $996,000. 92.59% of the stock is owned by 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.