Brokerages Set Neurocrine Biosciences, Inc. (NASDAQ:NBIX) PT at $162.20

Shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) have received a consensus rating of “Moderate Buy” from the twenty-four research firms that are currently covering the stock, Marketbeat reports. Five research analysts have rated the stock with a hold recommendation, eighteen have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $162.20.

A number of equities research analysts have issued reports on NBIX shares. Morgan Stanley upped their price target on shares of Neurocrine Biosciences from $160.00 to $170.00 and gave the company an “overweight” rating in a report on Friday, July 12th. Needham & Company LLC reaffirmed a “hold” rating on shares of Neurocrine Biosciences in a report on Thursday, August 29th. BMO Capital Markets dropped their price target on Neurocrine Biosciences from $142.00 to $128.00 and set a “market perform” rating on the stock in a research report on Thursday, August 29th. Barclays reduced their price objective on Neurocrine Biosciences from $180.00 to $160.00 and set an “overweight” rating for the company in a research report on Monday, September 9th. Finally, Wedbush reaffirmed an “outperform” rating and set a $152.00 target price on shares of Neurocrine Biosciences in a research report on Wednesday, May 29th.

Neurocrine Biosciences Stock Performance

Shares of NBIX stock opened at $119.85 on Thursday. The company has a market capitalization of $12.06 billion, a price-to-earnings ratio of 33.02 and a beta of 0.37. The stock’s 50 day simple moving average is $139.59 and its 200 day simple moving average is $138.37. Neurocrine Biosciences has a twelve month low of $103.63 and a twelve month high of $157.98.

Neurocrine Biosciences (NASDAQ:NBIX) last released its quarterly earnings results on Thursday, August 1st. The company reported $0.63 EPS for the quarter, missing analysts’ consensus estimates of $1.15 by ($0.52). The firm had revenue of $590.20 million during the quarter, compared to the consensus estimate of $545.98 million. Neurocrine Biosciences had a net margin of 16.00% and a return on equity of 14.86%. The company’s revenue for the quarter was up 30.4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.95 EPS. On average, analysts forecast that Neurocrine Biosciences will post 4.19 EPS for the current fiscal year.

Insider Buying and Selling

In other Neurocrine Biosciences news, insider Julie Cooke sold 10,000 shares of the business’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $140.19, for a total value of $1,401,900.00. Following the transaction, the insider now directly owns 18,202 shares in the company, valued at $2,551,738.38. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other Neurocrine Biosciences news, insider Julie Cooke sold 10,000 shares of the business’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $140.19, for a total value of $1,401,900.00. Following the transaction, the insider now owns 18,202 shares of the company’s stock, valued at $2,551,738.38. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director William H. Rastetter sold 14,250 shares of the stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $146.69, for a total value of $2,090,332.50. Following the sale, the director now owns 37,491 shares in the company, valued at approximately $5,499,554.79. The disclosure for this sale can be found here. Insiders sold 71,798 shares of company stock worth $10,676,096 in the last quarter. 4.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Neurocrine Biosciences

A number of institutional investors have recently modified their holdings of NBIX. Sanctuary Advisors LLC bought a new stake in shares of Neurocrine Biosciences during the second quarter valued at approximately $510,000. Cetera Investment Advisers increased its stake in shares of Neurocrine Biosciences by 7.9% in the 2nd quarter. Cetera Investment Advisers now owns 7,112 shares of the company’s stock valued at $979,000 after buying an additional 519 shares during the period. Susquehanna Fundamental Investments LLC acquired a new position in shares of Neurocrine Biosciences during the second quarter valued at $509,000. Lion Point Capital LP boosted its holdings in Neurocrine Biosciences by 11.3% in the second quarter. Lion Point Capital LP now owns 8,350 shares of the company’s stock valued at $1,150,000 after acquiring an additional 850 shares during the last quarter. Finally, The Manufacturers Life Insurance Company increased its position in Neurocrine Biosciences by 0.9% in the second quarter. The Manufacturers Life Insurance Company now owns 125,401 shares of the company’s stock worth $17,264,000 after purchasing an additional 1,074 shares during the period. 92.59% of the stock is owned by 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.