Citigroup Raises Neurocrine Biosciences (NASDAQ:NBIX) Price Target to $150.00

Neurocrine Biosciences (NASDAQ:NBIX) had its price objective hoisted by Citigroup from $140.00 to $150.00 in a research note published on Friday morning, Benzinga reports. The brokerage currently has a neutral rating on the stock.

A number of other analysts have also recently weighed in on NBIX. BMO Capital Markets raised their price objective on shares of Neurocrine Biosciences from $129.00 to $138.00 and gave the stock a market perform rating in a report on Thursday, May 2nd. JPMorgan Chase & Co. boosted their price objective on shares of Neurocrine Biosciences from $148.00 to $158.00 and gave the stock an overweight rating in a research report on Wednesday, March 20th. HC Wainwright boosted their price objective on shares of Neurocrine Biosciences from $150.00 to $160.00 and gave the stock a buy rating in a research report on Thursday, May 2nd. Mizuho raised their target price on shares of Neurocrine Biosciences from $116.00 to $140.00 and gave the stock a neutral rating in a research report on Thursday, February 8th. Finally, Guggenheim raised their target price on shares of Neurocrine Biosciences from $164.00 to $170.00 and gave the stock a buy rating in a research report on Thursday, May 2nd. Six research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of Moderate Buy and a consensus target price of $147.88.

Neurocrine Biosciences Stock Performance

Shares of NASDAQ NBIX opened at $141.71 on Friday. The company has a market capitalization of $14.26 billion, a PE ratio of 39.04 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 company’s fifty day moving average price is $137.49 and its 200 day moving average price is $129.22.

Neurocrine Biosciences (NASDAQ:NBIX) last released its quarterly earnings data on Wednesday, February 7th. The company reported $1.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.13 by $0.31. Neurocrine Biosciences had a net margin of 18.65% and a return on equity of 17.45%. The firm had revenue of $515.20 million during the quarter, compared to analysts’ expectations of $518.52 million. During the same period last year, the business earned $0.88 earnings per share. Neurocrine Biosciences’s revenue was up 25.0% compared to the same quarter last year. On average, equities analysts expect that Neurocrine Biosciences will post 4.78 EPS for the current year.

Insider Buying and Selling at Neurocrine Biosciences

In related news, insider Ingrid Delaet sold 5,000 shares of Neurocrine Biosciences stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $145.06, for a total transaction of $725,300.00. Following the sale, the insider now directly owns 7,507 shares in the company, valued at approximately $1,088,965.42. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Neurocrine Biosciences news, Director Richard F. Pops sold 15,000 shares of the business’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $132.47, for a total transaction of $1,987,050.00. Following the completion of the sale, the director now owns 29,512 shares in the company, valued at approximately $3,909,454.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Ingrid Delaet sold 5,000 shares of the company’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $145.06, for a total transaction of $725,300.00. Following the completion of the sale, the insider now owns 7,507 shares of the company’s stock, valued at approximately $1,088,965.42. The disclosure for this sale can be found here. Insiders have sold a total of 176,771 shares of company stock valued at $24,360,922 in the last ninety days. 4.30% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Neurocrine Biosciences

Several institutional investors have recently added to or reduced their stakes in NBIX. FCF Advisors LLC bought a new position in shares of Neurocrine Biosciences in the fourth quarter valued at approximately $1,157,000. abrdn plc raised its stake in Neurocrine Biosciences by 2,503.0% in the fourth quarter. abrdn plc now owns 83,633 shares of the company’s stock valued at $11,019,000 after purchasing an additional 80,420 shares in the last quarter. Redhawk Wealth Advisors Inc. purchased a new stake in Neurocrine Biosciences in the fourth quarter valued at approximately $1,245,000. HealthInvest Partners AB purchased a new stake in Neurocrine Biosciences in the fourth quarter valued at approximately $1,662,000. Finally, Roman Butler Fullerton & Co. purchased a new stake in Neurocrine Biosciences in the fourth quarter valued at approximately $1,256,000. Institutional investors own 92.59% of the company’s stock.

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.