Canaccord Genuity Group Boosts Neurocrine Biosciences (NASDAQ:NBIX) Price Target to $164.00

Neurocrine Biosciences (NASDAQ:NBIX) had its price target hoisted by Canaccord Genuity Group from $154.00 to $164.00 in a research note released on Thursday, Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other equities research analysts also recently commented on NBIX. Mizuho upped their price target 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. BMO Capital Markets raised their target price on Neurocrine Biosciences from $129.00 to $138.00 and gave the stock a market perform rating in a research report on Thursday. StockNews.com upgraded Neurocrine Biosciences from a buy rating to a strong-buy rating in a report on Thursday, February 8th. Wedbush reissued an outperform rating and issued a $147.00 price objective on shares of Neurocrine Biosciences in a research note on Wednesday, April 17th. Finally, Guggenheim lifted their target price on Neurocrine Biosciences from $164.00 to $170.00 and gave the company a buy rating in a research note on Thursday. Six equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Neurocrine Biosciences has a consensus rating of Moderate Buy and an average target price of $147.88.

Neurocrine Biosciences Trading Up 0.6 %

Shares of NASDAQ NBIX traded up $0.88 during mid-day trading on Thursday, reaching $140.71. The company had a trading volume of 616,567 shares, compared to its average volume of 795,508. The company has a 50-day moving average price of $137.37 and a two-hundred day moving average price of $128.78. The stock has a market cap of $14.16 billion, a PE ratio of 38.76 and a beta of 0.28. Neurocrine Biosciences has a 1-year low of $89.04 and a 1-year high of $148.37.

Neurocrine Biosciences (NASDAQ:NBIX) last issued its quarterly earnings results on Wednesday, February 7th. The company reported $1.44 earnings per share for the quarter, topping analysts’ consensus estimates of $1.13 by $0.31. Neurocrine Biosciences had a return on equity of 17.45% and a net margin of 18.65%. The firm had revenue of $515.20 million for the quarter, compared to analysts’ expectations of $518.52 million. During the same quarter last year, the business posted $0.88 EPS. Neurocrine Biosciences’s revenue was up 25.0% on a year-over-year basis. On average, research analysts expect that Neurocrine Biosciences will post 4.79 EPS for the current year.

Insiders Place Their Bets

In other news, insider David W. Boyer sold 456 shares of Neurocrine Biosciences stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $141.96, for a total value of $64,733.76. Following the transaction, the insider now owns 4,894 shares of the company’s stock, valued at $694,752.24. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, insider Eric Benevich sold 19,818 shares of the business’s stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $133.36, for a total transaction of $2,642,928.48. Following the completion of the transaction, the insider now owns 40,778 shares of the company’s stock, valued at approximately $5,438,154.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider David W. Boyer sold 456 shares of the firm’s stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $141.96, for a total value of $64,733.76. Following the completion of the sale, the insider now directly owns 4,894 shares in the company, valued at approximately $694,752.24. The disclosure for this sale can be found here. Insiders sold 181,547 shares of company stock valued at $25,039,887 over the last 90 days. 4.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Neurocrine Biosciences

Hedge funds have recently modified their holdings of the business. First Horizon Advisors Inc. raised its stake in Neurocrine Biosciences by 10.5% during the 4th quarter. First Horizon Advisors Inc. now owns 782 shares of the company’s stock valued at $103,000 after purchasing an additional 74 shares during the last quarter. Quadrant Capital Group LLC raised its position in shares of Neurocrine Biosciences by 3.9% during the fourth quarter. Quadrant Capital Group LLC now owns 2,075 shares of the company’s stock valued at $273,000 after buying an additional 78 shares during the last quarter. Envestnet Portfolio Solutions Inc. lifted its stake in shares of Neurocrine Biosciences by 3.2% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 2,530 shares of the company’s stock valued at $333,000 after buying an additional 78 shares during the period. Sunbelt Securities Inc. lifted its stake in shares of Neurocrine Biosciences by 34.3% in the third quarter. Sunbelt Securities Inc. now owns 325 shares of the company’s stock valued at $37,000 after buying an additional 83 shares during the period. Finally, Commonwealth Equity Services LLC grew its position in Neurocrine Biosciences by 0.6% during the first quarter. Commonwealth Equity Services LLC now owns 13,941 shares of the company’s stock worth $1,923,000 after buying an additional 84 shares in the last quarter. 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.