Neurocrine Biosciences (NASDAQ:NBIX) Given New $173.00 Price Target at Morgan Stanley

Neurocrine Biosciences (NASDAQ:NBIX) had its target price decreased by investment analysts at Morgan Stanley from $178.00 to $173.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Morgan Stanley’s price target suggests a potential upside of 15.32% from the stock’s previous close.

NBIX has been the subject of a number of other reports. Truist Financial reissued a “buy” rating and set a $172.00 target price (up from $165.00) on shares of Neurocrine Biosciences in a research note on Thursday, October 30th. Zacks Research upgraded shares of Neurocrine Biosciences from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 15th. Canaccord Genuity Group boosted their price objective on shares of Neurocrine Biosciences from $160.00 to $164.00 and gave the company a “buy” rating in a research report on Wednesday, October 29th. Wall Street Zen raised Neurocrine Biosciences from a “hold” rating to a “strong-buy” rating in a research note on Saturday, August 2nd. Finally, Needham & Company LLC increased their price objective on Neurocrine Biosciences from $170.00 to $184.00 and gave the stock a “buy” rating in a report on Wednesday, October 29th. One analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $170.53.

Neurocrine Biosciences Stock Performance

NBIX opened at $150.02 on Tuesday. The firm’s fifty day moving average is $142.23 and its two-hundred day moving average is $131.95. The firm has a market cap of $14.96 billion, a PE ratio of 35.89, a price-to-earnings-growth ratio of 0.94 and a beta of 0.22. Neurocrine Biosciences has a twelve month low of $84.23 and a twelve month high of $157.67.

Neurocrine Biosciences (NASDAQ:NBIX) last issued its quarterly earnings data on Tuesday, October 28th. The company reported $2.04 EPS for the quarter, topping the consensus estimate of $1.58 by $0.46. Neurocrine Biosciences had a return on equity of 15.82% and a net margin of 15.95%.The business had revenue of $794.90 million for the quarter, compared to the consensus estimate of $746.61 million. During the same quarter last year, the business posted $1.81 EPS. The firm’s revenue was up 27.8% compared to the same quarter last year. Equities analysts forecast that Neurocrine Biosciences will post 4.28 EPS for the current fiscal year.

Insider Buying and Selling

In other Neurocrine Biosciences news, CEO Kyle Gano sold 300 shares of the business’s stock in a transaction that occurred on Tuesday, November 4th. The stock was sold at an average price of $141.97, for a total transaction of $42,591.00. Following the transaction, the chief executive officer owned 140,407 shares of the company’s stock, valued at $19,933,581.79. The trade was a 0.21% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director William H. Rastetter sold 18,000 shares of the stock in a transaction that occurred on Wednesday, November 5th. The shares were sold at an average price of $151.82, for a total value of $2,732,760.00. Following the completion of the sale, the director directly owned 40,360 shares of the company’s stock, valued at approximately $6,127,455.20. The trade was a 30.84% decrease in their position. The SEC filing for this sale provides additional information. 4.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On Neurocrine Biosciences

A number of institutional investors have recently bought and sold shares of NBIX. AlTi Global Inc. boosted its position in Neurocrine Biosciences by 1.0% during the third quarter. AlTi Global Inc. now owns 6,828 shares of the company’s stock worth $959,000 after purchasing an additional 70 shares during the period. Vanguard Personalized Indexing Management LLC lifted its stake in shares of Neurocrine Biosciences by 0.7% during the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 11,112 shares of the company’s stock worth $1,560,000 after buying an additional 77 shares during the last quarter. Diametric Capital LP boosted its holdings in shares of Neurocrine Biosciences by 2.6% during the 2nd quarter. Diametric Capital LP now owns 3,244 shares of the company’s stock worth $408,000 after buying an additional 81 shares during the period. Great Lakes Advisors LLC boosted its holdings in shares of Neurocrine Biosciences by 2.4% during the 3rd quarter. Great Lakes Advisors LLC now owns 3,605 shares of the company’s stock worth $506,000 after buying an additional 84 shares during the period. Finally, IFP Advisors Inc grew its stake in Neurocrine Biosciences by 4.2% in the 2nd quarter. IFP Advisors Inc now owns 2,172 shares of the company’s stock valued at $273,000 after buying an additional 88 shares during the last quarter. Institutional investors and hedge funds own 92.59% of the company’s stock.

Neurocrine Biosciences Company Profile

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.