Brokerages Set Neurocrine Biosciences, Inc. (NASDAQ:NBIX) PT at $201.05

Neurocrine Biosciences, Inc. (NASDAQ:NBIX) has been given an average recommendation of “Moderate Buy” by the twenty-four analysts that are covering the company, Marketbeat.com reports. Four investment analysts have rated the stock with a hold recommendation, nineteen have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $201.0455.

Several equities research analysts recently weighed in on the stock. Weiss Ratings upgraded shares of Neurocrine Biosciences from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday, August 25th. The Goldman Sachs Group initiated coverage on shares of Neurocrine Biosciences in a research note on Tuesday, June 2nd. They issued a “buy” rating and a $213.00 price objective for the company. Wedbush boosted their target price on shares of Neurocrine Biosciences from $185.00 to $194.00 and gave the stock an “outperform” rating in a report on Monday, August 3rd. Wells Fargo & Company upped their target price on shares of Neurocrine Biosciences from $175.00 to $200.00 and gave the company an “overweight” rating in a research report on Friday, July 17th. Finally, Stifel Nicolaus increased their price target on shares of Neurocrine Biosciences from $188.00 to $215.00 and gave the company a “buy” rating in a report on Friday, July 31st.

Neurocrine Biosciences Trading Up 0.0%

NASDAQ:NBIX opened at $155.14 on Monday. The business’s 50-day moving average is $165.18 and its 200 day moving average is $151.02. Neurocrine Biosciences has a 12 month low of $122.14 and a 12 month high of $186.12. The company has a market capitalization of $15.77 billion, a P/E ratio of 22.75, a P/E/G ratio of 0.73 and a beta of 0.38.

Neurocrine Biosciences (NASDAQ:NBIX) last released its quarterly earnings results on Friday, July 31st. The company reported $2.85 earnings per share for the quarter, beating the consensus estimate of $1.65 by $1.20. Neurocrine Biosciences had a return on equity of 22.43% and a net margin of 20.91%.The business had revenue of $959.00 million during the quarter, compared to analysts’ expectations of $891.16 million. During the same quarter last year, the business posted $1.65 EPS. The firm’s revenue for the quarter was up 39.5% compared to the same quarter last year. On average, research analysts forecast that Neurocrine Biosciences will post 7.25 earnings per share for the current year.

Insider Activity

In other news, Director Leslie Norwalk sold 1,250 shares of the stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $182.01, for a total value of $227,512.50. Following the sale, the director owned 1,588 shares of the company’s stock, valued at approximately $289,031.88. This represents a 44.05% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Ingrid Delaet sold 8,433 shares of the firm’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 owned 16,225 shares of the company’s stock, valued at $2,899,732. This trade represents a 34.20% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 40,188 shares of company stock valued at $7,118,633. 4.60% of the stock is currently owned by insiders.

Institutional Trading of Neurocrine Biosciences

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NBIX. Geneos Wealth Management Inc. boosted its position in shares of Neurocrine Biosciences by 143.6% during the first quarter. Geneos Wealth Management Inc. now owns 229 shares of the company’s stock valued at $25,000 after buying an additional 135 shares during the period. DJE Kapital AG purchased a new stake in shares of Neurocrine Biosciences in the fourth quarter worth approximately $28,000. Basecamp Wealth Advisors LLC lifted its stake in shares of Neurocrine Biosciences by 582.9% during the 1st quarter. Basecamp Wealth Advisors LLC now owns 239 shares of the company’s stock worth $31,000 after acquiring an additional 204 shares during the last quarter. Cassaday & Co Wealth Management LLC bought a new stake in shares of Neurocrine Biosciences during the 1st quarter worth approximately $33,000. Finally, Meeder Asset Management Inc. lifted its stake in shares of Neurocrine Biosciences by 651.6% during the 4th quarter. Meeder Asset Management Inc. now owns 233 shares of the company’s stock worth $33,000 after acquiring an additional 202 shares during the last quarter. 92.59% of the stock is owned by hedge funds and other institutional investors.

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.