Neurocrine Biosciences (NASDAQ:NBIX) Stock Price Expected to Rise, Morgan Stanley Analyst Says

Neurocrine Biosciences (NASDAQ:NBIX) had its price objective raised by investment analysts at Morgan Stanley from $182.00 to $183.00 in a note issued to investors on Friday, Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Morgan Stanley’s target price suggests a potential upside of 16.85% from the stock’s current price.

NBIX has been the subject of a number of other research reports. Piper Sandler lifted their target price on shares of Neurocrine Biosciences from $207.00 to $210.00 and gave the stock an “overweight” rating in a research report on Friday, July 31st. Citigroup raised their price target on Neurocrine Biosciences from $249.00 to $253.00 and gave the stock a “buy” rating in a research note on Thursday, September 3rd. TD Cowen lifted their price objective on Neurocrine Biosciences from $200.00 to $220.00 and gave the stock a “buy” rating in a report on Friday, July 31st. Canaccord Genuity Group upped their price objective on Neurocrine Biosciences from $200.00 to $210.00 and gave the company a “buy” rating in a research report on Monday, August 3rd. Finally, BMO Capital Markets increased their target price on Neurocrine Biosciences from $144.00 to $170.00 and gave the company a “market perform” rating in a report on Monday, July 13th. One analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $201.09.

Neurocrine Biosciences Stock Performance

Shares of NBIX stock traded up $0.04 during mid-day trading on Friday, hitting $156.61. The company’s stock had a trading volume of 381,264 shares, compared to its average volume of 1,191,088. The stock has a market cap of $15.92 billion, a price-to-earnings ratio of 22.98, a PEG ratio of 0.73 and a beta of 0.38. Neurocrine Biosciences has a 52-week low of $122.14 and a 52-week high of $186.12. The business has a 50-day moving average price of $164.82 and a 200 day moving average price of $151.22.

Neurocrine Biosciences (NASDAQ:NBIX) last released its quarterly earnings data on Friday, July 31st. The company reported $2.85 EPS for the quarter, topping 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 company had revenue of $959.00 million during the quarter, compared to the consensus estimate of $891.16 million. During the same period last year, the company earned $1.65 EPS. Neurocrine Biosciences’s revenue for the quarter was up 39.5% on a year-over-year basis. Equities research analysts predict that Neurocrine Biosciences will post 7.25 EPS for the current fiscal year.

Insiders Place Their Bets

In other Neurocrine Biosciences news, insider Darin Lippoldt sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 9th. The shares were sold at an average price of $179.60, for a total transaction of $1,796,000.00. Following the sale, the insider owned 54,729 shares in the company, valued at approximately $9,829,328.40. This trade represents a 15.45% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Ingrid Delaet sold 4,367 shares of the company’s stock in a transaction that occurred on Friday, July 10th. The stock was sold at an average price of $181.02, for a total transaction of $790,514.34. Following the completion of the transaction, the insider owned 16,225 shares of the company’s stock, valued at approximately $2,937,049.50. The trade was a 21.21% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 40,188 shares of company stock worth $7,118,633 over the last quarter. 4.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Neurocrine Biosciences

Institutional investors have recently bought and sold shares of the business. Sequoia Financial Advisors LLC raised its holdings in Neurocrine Biosciences by 31.0% during the second quarter. Sequoia Financial Advisors LLC now owns 6,351 shares of the company’s stock valued at $1,070,000 after acquiring an additional 1,502 shares during the period. Tidal Investments LLC grew its position in shares of Neurocrine Biosciences by 186.7% during the second quarter. Tidal Investments LLC now owns 81,460 shares of the company’s stock worth $13,729,000 after purchasing an additional 53,045 shares in the last quarter. WINTON GROUP Ltd bought a new stake in Neurocrine Biosciences during the 2nd quarter valued at approximately $270,000. Engineers Gate Manager LP lifted its holdings in Neurocrine Biosciences by 64.0% in the 2nd quarter. Engineers Gate Manager LP now owns 18,361 shares of the company’s stock worth $3,094,000 after purchasing an additional 7,163 shares in the last quarter. Finally, RFG Advisory LLC bought a new position in Neurocrine Biosciences in the 2nd quarter worth approximately $1,381,000. Hedge funds and other institutional investors own 92.59% of the company’s stock.

Neurocrine Biosciences Company Profile

Neurocrine Biosciences, Inc is a biopharmaceutical company focused on discovering, developing and commercializing medicines for neurological, neuroendocrine and psychiatric disorders. The company develops therapies for conditions with significant unmet medical needs, using expertise in neuroscience and endocrine biology.

Its primary commercial product is INGREZZA (valbenazine), a vesicular monoamine transporter 2 inhibitor approved in the United States for the treatment of tardive dyskinesia and chorea associated with Huntington’s disease.