Analysts Set Neurocrine Biosciences, Inc. (NASDAQ:NBIX) Target Price at $201.50

Shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) have received an average recommendation of “Moderate Buy” from the twenty-four ratings firms that are presently covering the firm, Marketbeat Ratings reports. Four research analysts have rated the stock with a hold recommendation, nineteen have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $200.8636.

NBIX has been the topic of a number of research reports. Weiss Ratings lowered shares of Neurocrine Biosciences from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, August 11th. Zacks Research cut shares of Neurocrine Biosciences from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 4th. Piper Sandler upped their price objective on Neurocrine Biosciences from $207.00 to $210.00 and gave the stock an “overweight” rating in a report on Friday, July 31st. JPMorgan Chase & Co. upped their price objective on Neurocrine Biosciences from $177.00 to $185.00 and gave the stock an “overweight” rating in a report on Friday, May 8th. Finally, Citigroup increased their price objective on Neurocrine Biosciences from $246.00 to $249.00 and gave the company a “buy” rating in a research report on Friday, July 31st.

Insiders Place Their Bets

In other Neurocrine Biosciences news, insider Ingrid Delaet sold 8,433 shares of the business’s stock in a transaction dated Thursday, July 9th. The stock was sold at an average price of $178.72, for a total transaction of $1,507,145.76. Following the completion of the sale, the insider directly owned 16,225 shares of the company’s stock, valued at approximately $2,899,732. The trade was a 34.20% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jude Onyia sold 11,000 shares of the company’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $160.25, for a total transaction of $1,762,750.00. Following the transaction, the insider owned 25,846 shares in the company, valued at approximately $4,141,821.50. The trade was a 29.85% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 131,524 shares of company stock valued at $21,668,924 over the last 90 days. Corporate insiders own 4.60% of the company’s stock.

Institutional Investors Weigh In On Neurocrine Biosciences

Several institutional investors have recently modified their holdings of the business. Geneos Wealth Management Inc. lifted its stake in shares of 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 period. DJE Kapital AG acquired a new stake in shares of Neurocrine Biosciences during the fourth quarter worth $28,000. Basecamp Wealth Advisors LLC increased its holdings in Neurocrine Biosciences by 582.9% in the first quarter. Basecamp Wealth Advisors LLC now owns 239 shares of the company’s stock valued at $31,000 after purchasing an additional 204 shares during the last quarter. Cassaday & Co Wealth Management LLC bought a new stake in Neurocrine Biosciences in the first quarter valued at about $33,000. Finally, Meeder Asset Management Inc. increased its holdings in Neurocrine Biosciences by 651.6% in the fourth quarter. Meeder Asset Management Inc. now owns 233 shares of the company’s stock valued at $33,000 after purchasing an additional 202 shares during the last quarter. Institutional investors and hedge funds own 92.59% of the company’s stock.

Neurocrine Biosciences Stock Performance

Neurocrine Biosciences stock opened at $154.49 on Thursday. The business’s fifty day moving average is $167.81 and its two-hundred day moving average is $148.47. The firm has a market cap of $15.70 billion, a P/E ratio of 22.65, a P/E/G ratio of 0.67 and a beta of 0.39. Neurocrine Biosciences has a 52 week low of $122.14 and a 52 week high of $186.12.

Neurocrine Biosciences (NASDAQ:NBIX) last announced its earnings results on Friday, July 31st. The company reported $2.85 earnings per share for the quarter, beating analysts’ consensus estimates of $1.65 by $1.20. Neurocrine Biosciences had a return on equity of 22.43% and a net margin of 20.91%.The company had revenue of $959.00 million during the quarter, compared to analyst estimates of $891.16 million. During the same period last year, the company posted $1.65 earnings per share. The firm’s quarterly revenue was up 39.5% compared to the same quarter last year. On average, equities research analysts predict that Neurocrine Biosciences will post 7.77 earnings per share for the current year.

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.