Needham & Company LLC Increases Neurocrine Biosciences (NASDAQ:NBIX) Price Target to $139.00

Neurocrine Biosciences (NASDAQ:NBIX) had its target price upped by analysts at Needham & Company LLC from $138.00 to $139.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Needham & Company LLC’s target price would suggest a potential upside of 26.65% from the company’s previous close.

A number of other research firms have also recently issued reports on NBIX. Evercore ISI decreased their target price on Neurocrine Biosciences from $190.00 to $185.00 and set an “outperform” rating for the company in a research note on Thursday, April 24th. JPMorgan Chase & Co. boosted their price objective on shares of Neurocrine Biosciences from $183.00 to $184.00 and gave the company an “overweight” rating in a research report on Wednesday, March 26th. StockNews.com cut Neurocrine Biosciences from a “strong-buy” rating to a “buy” rating in a report on Thursday, March 20th. Royal Bank of Canada raised Neurocrine Biosciences from a “sector perform” rating to an “outperform” rating and dropped their price target for the company from $138.00 to $137.00 in a research note on Monday, April 14th. Finally, HC Wainwright reduced their price objective on Neurocrine Biosciences from $185.00 to $168.00 and set a “buy” rating for the company in a research report on Tuesday, April 22nd. Three equities research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $161.05.

Neurocrine Biosciences Stock Up 0.1 %

Shares of NBIX opened at $109.75 on Tuesday. The stock’s fifty day simple moving average is $106.03 and its 200-day simple moving average is $121.83. The firm has a market capitalization of $10.86 billion, a PE ratio of 33.36, a price-to-earnings-growth ratio of 0.77 and a beta of 0.26. Neurocrine Biosciences has a 12-month low of $84.23 and a 12-month high of $157.98.

Neurocrine Biosciences (NASDAQ:NBIX) last released its quarterly earnings data on Monday, May 5th. The company reported $0.08 EPS for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.62). Neurocrine Biosciences had a net margin of 14.49% and a return on equity of 13.38%. The firm’s quarterly revenue was up 11.1% on a year-over-year basis. During the same period in the prior year, the company posted $1.20 earnings per share. Analysts anticipate that Neurocrine Biosciences will post 4.28 EPS for the current year.

Neurocrine Biosciences declared that its board has authorized a stock repurchase program on Friday, February 21st that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the company to purchase up to 4.2% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Insider Activity

In other news, CFO Matt Abernethy sold 2,558 shares of the firm’s stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $116.86, for a total value of $298,927.88. Following the completion of the sale, the chief financial officer now directly owns 34,775 shares of the company’s stock, valued at $4,063,806.50. This trade represents a 6.85 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Julie Cooke sold 700 shares of the business’s stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $118.28, for a total value of $82,796.00. Following the transaction, the insider now directly owns 18,831 shares in the company, valued at $2,227,330.68. The trade was a 3.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 13,907 shares of company stock valued at $1,629,982. 4.30% of the stock is owned by company insiders.

Hedge Funds Weigh In On Neurocrine Biosciences

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Caprock Group LLC acquired a new stake in shares of Neurocrine Biosciences during the 4th quarter worth about $236,000. Charles Schwab Investment Management Inc. lifted its position in Neurocrine Biosciences by 2.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 762,557 shares of the company’s stock worth $104,089,000 after acquiring an additional 15,266 shares during the last quarter. Oakworth Capital Inc. bought a new stake in shares of Neurocrine Biosciences during the fourth quarter worth approximately $379,000. Avantax Advisory Services Inc. grew its position in shares of Neurocrine Biosciences by 11.4% in the fourth quarter. Avantax Advisory Services Inc. now owns 2,895 shares of the company’s stock valued at $395,000 after purchasing an additional 297 shares during the last quarter. Finally, Synergy Asset Management LLC bought a new position in shares of Neurocrine Biosciences during the fourth quarter worth approximately $996,000. 92.59% of the stock is owned by institutional investors.

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.