Neurocrine Biosciences (NASDAQ:NBIX) Price Target Raised to $165.00

Neurocrine Biosciences (NASDAQ:NBIX) had its price objective lifted by research analysts at Guggenheim from $155.00 to $165.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Guggenheim’s price objective would suggest a potential upside of 32.41% from the company’s previous close.

NBIX has been the subject of several other research reports. Bank of America decreased their price target on shares of Neurocrine Biosciences from $184.00 to $179.00 and set a “buy” rating for the company in a report on Friday, February 7th. Morgan Stanley reissued an “overweight” rating and set a $150.00 target price (down from $185.00) on shares of Neurocrine Biosciences in a research note on Friday, March 7th. HC Wainwright dropped their target price on shares of Neurocrine Biosciences from $185.00 to $168.00 and set a “buy” rating on the stock in a report on Tuesday, April 22nd. Royal Bank of Canada upgraded shares of Neurocrine Biosciences from a “sector perform” rating to an “outperform” rating and reduced their price target for the company from $138.00 to $137.00 in a report on Monday, April 14th. Finally, Wedbush dropped their price objective on shares of Neurocrine Biosciences from $157.00 to $147.00 and set an “outperform” rating on the stock in a report on Friday, February 7th. Three equities research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. According to data from MarketBeat, Neurocrine Biosciences presently has an average rating of “Moderate Buy” and an average target price of $161.90.

Neurocrine Biosciences Stock Up 13.5 %

NBIX stock traded up $14.87 during midday trading on Tuesday, reaching $124.62. The company’s stock had a trading volume of 1,331,963 shares, compared to its average volume of 1,425,389. The business’s 50-day simple moving average is $106.03 and its 200-day simple moving average is $121.83. Neurocrine Biosciences has a 52 week low of $84.23 and a 52 week high of $157.98. The stock has a market cap of $12.33 billion, a PE ratio of 38.02, a price-to-earnings-growth ratio of 0.77 and a beta of 0.26.

Neurocrine Biosciences (NASDAQ:NBIX) last announced 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 return on equity of 13.38% and a net margin of 14.49%. The company had revenue of $572.60 million for the quarter, compared to analyst estimates of $587.06 million. During the same period last year, the firm earned $1.20 earnings per share. The firm’s revenue for the quarter was up 11.1% on a year-over-year basis. As a group, equities analysts forecast that Neurocrine Biosciences will post 4.28 earnings per share for the current fiscal year.

Neurocrine Biosciences announced that its board has initiated a stock buyback program on Friday, February 21st that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the company to repurchase up to 4.2% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s management believes its stock is undervalued.

Insider Buying and Selling at Neurocrine Biosciences

In related news, insider Julie Cooke sold 700 shares of the firm’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $118.28, for a total value of $82,796.00. Following the completion of the sale, the insider now directly owns 18,831 shares in the company, valued at approximately $2,227,330.68. This trade represents a 3.58 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Kyle Gano sold 980 shares of Neurocrine Biosciences stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $118.39, for a total value of $116,022.20. Following the transaction, the chief executive officer now owns 137,658 shares of the company’s stock, valued at $16,297,330.62. The trade was a 0.71 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 13,907 shares of company stock worth $1,629,982 over the last quarter. 4.30% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Neurocrine Biosciences

Hedge funds have recently added to or reduced their stakes in the business. Pier 88 Investment Partners LLC raised its position in shares of Neurocrine Biosciences by 82.3% in the first quarter. Pier 88 Investment Partners LLC now owns 8,550 shares of the company’s stock valued at $946,000 after purchasing an additional 3,860 shares during the period. Y Intercept Hong Kong Ltd acquired a new position in Neurocrine Biosciences in the 1st quarter valued at about $1,460,000. HighPoint Advisor Group LLC grew its stake in Neurocrine Biosciences by 15.0% in the 1st quarter. HighPoint Advisor Group LLC now owns 2,812 shares of the company’s stock valued at $302,000 after buying an additional 366 shares during the last quarter. Teachers Retirement System of The State of Kentucky raised its holdings in Neurocrine Biosciences by 24.8% in the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 70,020 shares of the company’s stock valued at $7,745,000 after acquiring an additional 13,900 shares during the period. Finally, Hussman Strategic Advisors Inc. lifted its position in Neurocrine Biosciences by 200.0% during the first quarter. Hussman Strategic Advisors Inc. now owns 25,200 shares of the company’s stock worth $2,787,000 after acquiring an additional 16,800 shares during the last quarter. Institutional investors and hedge funds own 92.59% of the company’s stock.

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.