JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Neurocrine Biosciences (NASDAQ:NBIX) Stock

Neurocrine Biosciences (NASDAQ:NBIX) had its price objective boosted by stock analysts at JPMorgan Chase & Co. from $176.00 to $177.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price suggests a potential upside of 36.38% from the stock’s current price.

Several other brokerages also recently commented on NBIX. Weiss Ratings restated a “hold (c+)” rating on shares of Neurocrine Biosciences in a report on Thursday, January 22nd. Zacks Research downgraded shares of Neurocrine Biosciences from a “hold” rating to a “strong sell” rating in a research report on Tuesday, February 17th. Royal Bank Of Canada dropped their price objective on shares of Neurocrine Biosciences from $180.00 to $177.00 and set an “outperform” rating on the stock in a report on Thursday, February 12th. Needham & Company LLC cut their price objective on shares of Neurocrine Biosciences from $187.00 to $185.00 and set a “buy” rating on the stock in a research report on Thursday, February 12th. Finally, HC Wainwright reduced their target price on shares of Neurocrine Biosciences from $198.00 to $192.00 and set a “buy” rating for the company in a research note on Thursday, February 12th. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $175.10.

Neurocrine Biosciences Price Performance

Shares of Neurocrine Biosciences stock opened at $129.78 on Thursday. Neurocrine Biosciences has a 1 year low of $84.23 and a 1 year high of $160.18. The business has a 50-day moving average of $133.08 and a two-hundred day moving average of $140.24. The company has a market capitalization of $13.02 billion, a P/E ratio of 27.85, a price-to-earnings-growth ratio of 0.67 and a beta of 0.32.

Neurocrine Biosciences (NASDAQ:NBIX) last released its quarterly earnings data on Wednesday, February 11th. The company reported $1.88 earnings per share for the quarter, missing the consensus estimate of $2.36 by ($0.48). Neurocrine Biosciences had a net margin of 16.73% and a return on equity of 16.48%. The business had revenue of $805.50 million for the quarter, compared to the consensus estimate of $804.21 million. During the same quarter last year, the firm earned $1.69 EPS. The company’s revenue for the quarter was up 28.3% on a year-over-year basis. On average, equities analysts anticipate that Neurocrine Biosciences will post 4.28 EPS for the current fiscal year.

Insider Activity

In other news, CEO Kyle Gano sold 36,400 shares of the business’s stock in a transaction dated Friday, January 16th. The shares were sold at an average price of $132.70, for a total transaction of $4,830,280.00. Following the transaction, the chief executive officer directly owned 140,407 shares in the company, valued at $18,632,008.90. The trade was a 20.59% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Leslie V. Norwalk sold 5,000 shares of the company’s stock in a transaction dated Monday, December 15th. The shares were sold at an average price of $152.23, for a total transaction of $761,150.00. Following the completion of the sale, the director directly owned 7,429 shares in the company, valued at approximately $1,130,916.67. The trade was a 40.23% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 42,590 shares of company stock worth $5,775,987 over the last 90 days. 4.80% of the stock is owned by company insiders.

Institutional Trading of Neurocrine Biosciences

Several institutional investors and hedge funds have recently bought and sold shares of NBIX. USA Financial Formulas bought a new position in shares of Neurocrine Biosciences during the 4th quarter worth approximately $25,000. Golden State Wealth Management LLC raised its stake in Neurocrine Biosciences by 120.5% in the 3rd quarter. Golden State Wealth Management LLC now owns 183 shares of the company’s stock valued at $26,000 after acquiring an additional 100 shares during the period. Eastern Bank acquired a new stake in Neurocrine Biosciences during the 3rd quarter valued at $27,000. DJE Kapital AG bought a new position in Neurocrine Biosciences during the fourth quarter worth $28,000. Finally, Geneos Wealth Management Inc. boosted its position in Neurocrine Biosciences by 143.6% during the first quarter. Geneos Wealth Management Inc. now owns 229 shares of the company’s stock worth $25,000 after purchasing an additional 135 shares during the period. Institutional investors own 92.59% of the company’s stock.

About Neurocrine Biosciences

Neurocrine Biosciences (NASDAQ: NBIX) is a biopharmaceutical company based in San Diego, California, focused on developing treatments for neurological, endocrine and neuropsychiatric disorders. Since its founding in 1992, the company has pursued a research‐driven strategy aimed at addressing unmet medical needs in movement disorders, reproductive health and central nervous system conditions. Neurocrine’s operations encompass drug discovery, clinical development and commercialization activities.

The company’s lead marketed product, Ingrezza™ (valbenazine), is indicated for the treatment of tardive dyskinesia, a movement disorder associated with long-term antipsychotic use.