Neurocrine Biosciences (NASDAQ:NBIX) Price Target Raised to $170.00

Neurocrine Biosciences (NASDAQ:NBIX) had its price target lifted by equities research analysts at Guggenheim from $164.00 to $170.00 in a research note issued on Thursday, Benzinga reports. The firm presently has a “buy” rating on the stock. Guggenheim’s price objective would indicate a potential upside of 20.18% from the stock’s previous close.

Several other analysts also recently weighed in on NBIX. Wedbush restated an “outperform” rating and set a $147.00 price objective on shares of Neurocrine Biosciences in a research report on Wednesday, April 17th. Mizuho increased their target price on Neurocrine Biosciences from $116.00 to $140.00 and gave the company a “neutral” rating in a research report on Thursday, February 8th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $155.00 target price on shares of Neurocrine Biosciences in a research report on Wednesday, April 10th. Oppenheimer increased their target price on Neurocrine Biosciences from $200.00 to $216.00 and gave the company an “outperform” rating in a research report on Thursday. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Neurocrine Biosciences in a research report on Wednesday. Six equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $146.88.

Neurocrine Biosciences Price Performance

NASDAQ NBIX traded down $1.57 on Thursday, reaching $141.46. The stock had a trading volume of 504,878 shares, compared to its average volume of 851,695. The company has a market cap of $14.08 billion, a P/E ratio of 58.62 and a beta of 0.28. Neurocrine Biosciences has a 1-year low of $89.04 and a 1-year high of $148.37. The firm has a fifty day moving average of $137.11 and a two-hundred day moving average of $128.51.

Neurocrine Biosciences (NASDAQ:NBIX) last announced its quarterly earnings data on Wednesday, February 7th. The company reported $1.44 earnings per share for the quarter, topping the consensus estimate of $1.13 by $0.31. Neurocrine Biosciences had a return on equity of 12.85% and a net margin of 13.23%. The business had revenue of $515.20 million during the quarter, compared to the consensus estimate of $518.52 million. During the same period in the prior year, the company earned $0.88 EPS. Neurocrine Biosciences’s revenue for the quarter was up 25.0% on a year-over-year basis. Research analysts predict that Neurocrine Biosciences will post 4.8 EPS for the current fiscal year.

Insider Buying and Selling at Neurocrine Biosciences

In other Neurocrine Biosciences news, insider David W. Boyer sold 456 shares of the business’s stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $141.96, for a total value of $64,733.76. Following the sale, the insider now directly owns 4,894 shares in the company, valued at $694,752.24. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, insider David W. Boyer sold 456 shares of Neurocrine Biosciences stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $141.96, for a total value of $64,733.76. Following the completion of the transaction, the insider now directly owns 4,894 shares in the company, valued at $694,752.24. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider David W. Boyer sold 1,328 shares of Neurocrine Biosciences stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $135.41, for a total value of $179,824.48. Following the completion of the transaction, the insider now owns 4,895 shares of the company’s stock, valued at $662,831.95. The disclosure for this sale can be found here. Insiders have sold a total of 181,547 shares of company stock worth $25,039,887 over the last ninety days. 4.30% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Neurocrine Biosciences

Hedge funds have recently made changes to their positions in the stock. FCF Advisors LLC purchased a new position in shares of Neurocrine Biosciences in the fourth quarter valued at $1,157,000. abrdn plc grew its position in Neurocrine Biosciences by 2,503.0% during the fourth quarter. abrdn plc now owns 83,633 shares of the company’s stock worth $11,019,000 after buying an additional 80,420 shares in the last quarter. Redhawk Wealth Advisors Inc. purchased a new position in Neurocrine Biosciences during the fourth quarter worth about $1,245,000. HealthInvest Partners AB purchased a new position in Neurocrine Biosciences during the fourth quarter worth about $1,662,000. Finally, Roman Butler Fullerton & Co. purchased a new position in Neurocrine Biosciences during the fourth quarter worth about $1,256,000. 92.59% of the stock is currently owned by hedge funds and other institutional investors.

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.