Neurocrine Biosciences, Inc. (NASDAQ:NBIX) Receives $201.05 Consensus Target Price from Analysts

Shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) have been assigned a consensus recommendation of “Moderate Buy” from the twenty-four ratings firms that are covering the stock, MarketBeat Ratings reports. Four investment analysts have rated the stock with a hold recommendation, nineteen have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $201.0909.

Several equities research analysts have issued reports on the stock. Wedbush boosted their price target on shares of Neurocrine Biosciences from $185.00 to $194.00 and gave the company an “outperform” rating in a report on Monday, August 3rd. Wells Fargo & Company lifted their target price on shares of Neurocrine Biosciences from $175.00 to $200.00 and gave the company an “overweight” rating in a research report on Friday, July 17th. Canaccord Genuity Group upped their target price on shares of Neurocrine Biosciences from $200.00 to $210.00 and gave the company a “buy” rating in a research note on Monday, August 3rd. Zacks Research lowered shares of Neurocrine Biosciences from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 4th. Finally, Guggenheim raised their price target on shares of Neurocrine Biosciences from $200.00 to $222.00 and gave the stock a “buy” rating in a research note on Friday, July 31st.

Insider Activity

In other Neurocrine Biosciences news, insider Ingrid Delaet sold 4,367 shares of Neurocrine Biosciences stock in a transaction on Friday, July 10th. The stock was sold at an average price of $181.02, for a total value of $790,514.34. Following the completion of the transaction, the insider owned 16,225 shares in the company, valued at approximately $2,937,049.50. The trade was a 21.21% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Leslie Norwalk sold 1,250 shares of the company’s stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $182.01, for a total transaction of $227,512.50. Following the transaction, the director owned 1,588 shares in the company, valued at approximately $289,031.88. This trade represents a 44.05% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 40,188 shares of company stock worth $7,118,633. Corporate insiders own 4.60% of the company’s stock.

Institutional Trading of Neurocrine Biosciences

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Geneos Wealth Management Inc. lifted its stake in Neurocrine Biosciences by 143.6% in the first quarter. Geneos Wealth Management Inc. now owns 229 shares of the company’s stock valued at $25,000 after buying an additional 135 shares during the period. DJE Kapital AG acquired a new position in shares of Neurocrine Biosciences during the 4th quarter worth about $28,000. Basecamp Wealth Advisors LLC grew its position in shares of Neurocrine Biosciences by 582.9% during the 1st quarter. Basecamp Wealth Advisors LLC now owns 239 shares of the company’s stock worth $31,000 after buying an additional 204 shares during the period. Cassaday & Co Wealth Management LLC bought a new stake in shares of Neurocrine Biosciences in the 1st quarter valued at about $33,000. Finally, Meeder Asset Management Inc. increased its stake in shares of Neurocrine Biosciences by 651.6% in the 4th quarter. Meeder Asset Management Inc. now owns 233 shares of the company’s stock valued at $33,000 after acquiring an additional 202 shares during the last quarter. 92.59% of the stock is currently owned by institutional investors and hedge funds.

Neurocrine Biosciences Price Performance

Shares of NBIX opened at $156.22 on Monday. The company has a market capitalization of $15.88 billion, a PE ratio of 22.91, a price-to-earnings-growth ratio of 0.73 and a beta of 0.38. Neurocrine Biosciences has a one year low of $122.14 and a one year high of $186.12. The company’s fifty day moving average price is $164.46 and its 200 day moving average price is $151.26.

Neurocrine Biosciences (NASDAQ:NBIX) last issued its quarterly earnings results on Friday, July 31st. The company reported $2.85 EPS for the quarter, topping the consensus estimate of $1.65 by $1.20. Neurocrine Biosciences had a return on equity of 22.43% and a net margin of 20.91%.The company had revenue of $959.00 million for the quarter, compared to the consensus estimate of $891.16 million. During the same period in the previous year, the business posted $1.65 EPS. The company’s revenue for the quarter was up 39.5% on a year-over-year basis. Analysts anticipate that Neurocrine Biosciences will post 7.25 earnings per share for the current year.

About Neurocrine Biosciences

Neurocrine Biosciences, Inc is a biopharmaceutical company focused on discovering, developing and commercializing medicines for neurological, neuroendocrine and psychiatric disorders. The company develops therapies for conditions with significant unmet medical needs, using expertise in neuroscience and endocrine biology.

Its primary commercial product is INGREZZA (valbenazine), a vesicular monoamine transporter 2 inhibitor approved in the United States for the treatment of tardive dyskinesia and chorea associated with Huntington’s disease.