Neurocrine Biosciences (NASDAQ:NBIX) Given New $191.00 Price Target at Morgan Stanley

Neurocrine Biosciences (NASDAQ:NBIX) had its price objective lifted by equities researchers at Morgan Stanley from $185.00 to $191.00 in a note issued to investors on Friday, Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Morgan Stanley‘s price objective suggests a potential upside of 14.24% from the company’s current price.

Other equities analysts also recently issued reports about the stock. Mizuho upgraded shares of Neurocrine Biosciences to a “hold” rating in a report on Wednesday, September 16th. Wall Street Zen raised shares of Neurocrine Biosciences from a “hold” rating to a “buy” rating in a research note on Saturday, November 7th. Needham & Company LLC restated a “buy” rating and set a $204.00 target price on shares of Neurocrine Biosciences in a research report on Friday, October 16th. Royal Bank Of Canada upped their target price on Neurocrine Biosciences from $187.00 to $190.00 and gave the company an “outperform” rating in a research note on Tuesday, November 3rd. Finally, UBS Group reduced their price target on Neurocrine Biosciences from $231.00 to $214.00 and set a “buy” rating on the stock in a report on Tuesday, September 29th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and four have assigned 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 price target of $202.59.

Neurocrine Biosciences Stock Performance

NBIX stock traded down $2.21 during mid-day trading on Friday, reaching $167.19. 443,045 shares of the stock traded hands, compared to its average volume of 1,238,653. Neurocrine Biosciences has a one year low of $122.14 and a one year high of $186.12. The stock has a market capitalization of $16.92 billion, a PE ratio of 24.80, a PEG ratio of 0.71 and a beta of 0.36. The business has a 50-day moving average price of $148.40 and a two-hundred day moving average price of $148.74.

Neurocrine Biosciences (NASDAQ:NBIX) last released its earnings results on Monday, November 2nd. The company reported $3.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.91 by $1.38. Neurocrine Biosciences had a net margin of 18.98% and a return on equity of 23.39%. The firm had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.04 billion. During the same quarter last year, the business earned $2.04 EPS. The business’s revenue was up 41.3% on a year-over-year basis. On average, equities analysts expect that Neurocrine Biosciences will post 8.41 earnings per share for the current fiscal year.

Insider Buying and Selling at Neurocrine Biosciences

In other news, Director George Morrow sold 7,200 shares of the firm’s stock in a transaction that occurred on Tuesday, November 3rd. The shares were sold at an average price of $166.37, for a total transaction of $1,197,864.00. Following the transaction, the director directly owned 10,386 shares of the company’s stock, valued at approximately $1,727,918.82. This trade represents a 40.94% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Matt Abernethy sold 2,311 shares of the firm’s stock in a transaction that occurred on Monday, September 14th. The stock was sold at an average price of $157.20, for a total transaction of $363,289.20. Following the transaction, the chief financial officer directly owned 42,808 shares in the company, valued at approximately $6,729,417.60. This trade represents a 5.12% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 18,137 shares of company stock valued at $2,829,332 in the last three months. Company insiders own 4.60% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of NBIX. Entrust Financial LLC increased its holdings in Neurocrine Biosciences by 62.9% during the 3rd quarter. Entrust Financial LLC now owns 202 shares of the company’s stock worth $29,000 after purchasing an additional 78 shares during the period. Basecamp Wealth Advisors LLC raised its position in Neurocrine Biosciences by 582.9% during the 1st quarter. Basecamp Wealth Advisors LLC now owns 239 shares of the company’s stock valued at $31,000 after purchasing an additional 204 shares in the last quarter. Raleigh Capital Management Inc. raised its position in Neurocrine Biosciences by 561.8% during the 3rd quarter. Raleigh Capital Management Inc. now owns 225 shares of the company’s stock valued at $32,000 after purchasing an additional 191 shares in the last quarter. Cassaday & Co Wealth Management LLC purchased a new stake in shares of Neurocrine Biosciences in the 1st quarter worth $33,000. Finally, Jacobi Capital Management LLC purchased a new stake in shares of Neurocrine Biosciences in the 3rd quarter worth $42,000. Institutional investors own 92.59% of the company’s stock.

About Neurocrine Biosciences

Neurocrine Biosciences is a biopharmaceutical company focused on developing and commercializing treatments for neurological, endocrine and related disorders. Founded in 1992 and headquartered in San Diego, California, the company conducts research and development alongside its commercial operations. Its marketed medicines include INGREZZA (valbenazine), approved in the United States for tardive dyskinesia and chorea associated with Huntington disease, and CRENESSITY (crinecerfont), used with glucocorticoid replacement therapy to treat classic congenital adrenal hyperplasia in adults and children.