Neurocrine Biosciences (NASDAQ:NBIX) Price Target Raised to $180.00

Neurocrine Biosciences (NASDAQ:NBIX) had its price target hoisted by Royal Bank Of Canada from $176.00 to $180.00 in a report published on Wednesday,Benzinga reports. They currently have an outperform rating on the stock.

Several other research analysts have also recently commented on the stock. Wall Street Zen upgraded shares of Neurocrine Biosciences from a “buy” rating to a “strong-buy” rating in a report on Saturday, April 25th. Canaccord Genuity Group boosted their price target on shares of Neurocrine Biosciences from $164.00 to $200.00 and gave the stock a “buy” rating in a report on Tuesday, April 7th. Weiss Ratings restated a “hold (c+)” rating on shares of Neurocrine Biosciences in a report on Tuesday, April 21st. Wedbush upped their target price on shares of Neurocrine Biosciences from $166.00 to $176.00 and gave the company an “outperform” rating in a report on Wednesday. Finally, Guggenheim restated a “buy” rating and issued a $175.00 target price on shares of Neurocrine Biosciences in a report on Wednesday. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, Neurocrine Biosciences has a consensus rating of “Moderate Buy” and a consensus price target of $184.15.

Neurocrine Biosciences Stock Up 1.8%

NASDAQ NBIX opened at $152.25 on Wednesday. Neurocrine Biosciences has a 52 week low of $115.66 and a 52 week high of $160.18. The stock has a market capitalization of $15.31 billion, a PE ratio of 23.46, a price-to-earnings-growth ratio of 1.26 and a beta of 0.34. The firm has a 50 day moving average of $131.12 and a two-hundred day moving average of $137.85.

Neurocrine Biosciences (NASDAQ:NBIX) last posted its quarterly earnings results on Wednesday, February 11th. The company reported $1.88 EPS for the quarter, missing the consensus estimate of $2.36 by ($0.48). Neurocrine Biosciences had a return on equity of 19.79% and a net margin of 21.55%.The firm had revenue of $805.50 million for the quarter, compared to analyst estimates of $804.21 million. During the same quarter last year, the firm earned $1.69 EPS. The company’s revenue was up 28.3% on a year-over-year basis. On average, equities research analysts expect that Neurocrine Biosciences will post 6.57 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of NBIX. Royal Bank of Canada boosted its holdings in shares of Neurocrine Biosciences by 36.7% in the 1st quarter. Royal Bank of Canada now owns 82,810 shares of the company’s stock valued at $9,158,000 after buying an additional 22,224 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Neurocrine Biosciences by 60.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,783 shares of the company’s stock valued at $1,647,000 after purchasing an additional 5,577 shares during the last quarter. NewEdge Advisors LLC raised its position in Neurocrine Biosciences by 56.3% in the 1st quarter. NewEdge Advisors LLC now owns 7,630 shares of the company’s stock valued at $844,000 after purchasing an additional 2,747 shares during the last quarter. Empowered Funds LLC purchased a new stake in Neurocrine Biosciences in the 1st quarter valued at $1,333,000. Finally, Geneos Wealth Management Inc. raised its position in Neurocrine Biosciences by 143.6% in the 1st quarter. Geneos Wealth Management Inc. now owns 229 shares of the company’s stock valued at $25,000 after purchasing an additional 135 shares during the last quarter. Institutional investors and hedge funds own 92.59% of the company’s stock.

Neurocrine Biosciences News Roundup

Here are the key news stories impacting Neurocrine Biosciences this week:

• Positive Sentiment: JPMorgan raised its price target on Neurocrine Biosciences to $185 from $177 and kept an overweight rating, signaling continued confidence in upside potential. Article link
• Positive Sentiment: Truist Financial lifted its price target to $155 from $140 and reiterated a buy rating, adding to the recent analyst support. Article link
• Positive Sentiment: Multiple firms, including Morgan Stanley, Guggenheim, Piper Sandler and Wedbush, issued upbeat views on NBIX, suggesting broad Wall Street optimism around the stock’s outlook. Article link
• Positive Sentiment: Neurocrine’s latest earnings beat helped reassure investors that the company’s core business remains on track, even if some analysts are still refining their models after the report. Article link
• Neutral Sentiment: A Seeking Alpha article argued that the core business is holding up, while noting the Soleno deal could add upside but also introduces risk. Article link

Neurocrine Biosciences Company Profile

Neurocrine Biosciences (NASDAQ: NBIX) is a biopharmaceutical company based in San Diego, California, focused on developing treatments for neurological, endocrine and neuropsychiatric disorders. Since its founding in 1992, the company has pursued a research‐driven strategy aimed at addressing unmet medical needs in movement disorders, reproductive health and central nervous system conditions. Neurocrine’s operations encompass drug discovery, clinical development and commercialization activities.

The company’s lead marketed product, Ingrezza™ (valbenazine), is indicated for the treatment of tardive dyskinesia, a movement disorder associated with long-term antipsychotic use.