Neurocrine Biosciences, Inc. (NASDAQ:NBIX) Receives $139.25 Consensus Target Price from Analysts

Shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) have earned an average recommendation of “Moderate Buy” from the twenty-two research firms that are currently covering the stock, Marketbeat.com reports. Six analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $139.67.

NBIX has been the subject of a number of research analyst reports. Mizuho raised their price target on Neurocrine Biosciences from $116.00 to $140.00 and gave the stock a “neutral” rating in a research note on Thursday, February 8th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $155.00 target price on shares of Neurocrine Biosciences in a research report on Wednesday, April 10th. StockNews.com raised Neurocrine Biosciences from a “buy” rating to a “strong-buy” rating in a research report on Thursday, February 8th. Wedbush reaffirmed an “outperform” rating and set a $147.00 target price on shares of Neurocrine Biosciences in a research report on Wednesday, April 17th. Finally, Barclays lifted their target price on Neurocrine Biosciences from $145.00 to $150.00 and gave the company an “overweight” rating in a research report on Tuesday, January 23rd.

Neurocrine Biosciences Stock Performance

Shares of NBIX stock opened at $132.00 on Monday. Neurocrine Biosciences has a 52-week low of $89.04 and a 52-week high of $148.37. The firm has a market capitalization of $13.14 billion, a P/E ratio of 54.55 and a beta of 0.25. The stock has a 50 day moving average price of $136.15 and a 200 day moving average price of $127.22.

Neurocrine Biosciences (NASDAQ:NBIX) last issued its quarterly earnings results on Wednesday, February 7th. The company reported $1.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.13 by $0.31. Neurocrine Biosciences had a return on equity of 12.85% and a net margin of 13.23%. The firm had revenue of $515.20 million during the quarter, compared to analyst estimates of $518.52 million. During the same period last year, the company earned $0.88 EPS. Neurocrine Biosciences’s quarterly revenue was up 25.0% compared to the same quarter last year. As a group, sell-side analysts forecast that Neurocrine Biosciences will post 4.84 EPS for the current year.

Insider Buying and Selling

In related news, Director Richard F. Pops sold 15,000 shares of the business’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $132.47, for a total transaction of $1,987,050.00. Following the transaction, the director now directly owns 29,512 shares in the company, valued at approximately $3,909,454.64. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other Neurocrine Biosciences news, CEO Kevin Charles Gorman sold 2,707 shares of the business’s stock in a transaction dated Wednesday, January 31st. The stock was sold at an average price of $140.69, for a total transaction of $380,847.83. Following the sale, the chief executive officer now owns 502,188 shares in the company, valued at approximately $70,652,829.72. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Richard F. Pops sold 15,000 shares of the business’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $132.47, for a total value of $1,987,050.00. Following the sale, the director now owns 29,512 shares in the company, valued at approximately $3,909,454.64. The disclosure for this sale can be found here. Insiders have sold a total of 186,994 shares of company stock worth $25,806,409 in the last ninety days. 4.40% of the stock is owned by insiders.

Institutional Trading of Neurocrine Biosciences

Large investors have recently added to or reduced their stakes in the company. Rice Hall James & Associates LLC lifted its holdings in shares of Neurocrine Biosciences by 195.5% in the 1st quarter. Rice Hall James & Associates LLC now owns 206,755 shares of the company’s stock valued at $19,383,000 after buying an additional 136,782 shares during the period. HighTower Advisors LLC increased its stake in Neurocrine Biosciences by 48.8% during the 1st quarter. HighTower Advisors LLC now owns 5,745 shares of the company’s stock worth $544,000 after buying an additional 1,883 shares in the last quarter. PNC Financial Services Group Inc. increased its stake in Neurocrine Biosciences by 27.7% during the 1st quarter. PNC Financial Services Group Inc. now owns 3,150 shares of the company’s stock worth $296,000 after buying an additional 684 shares in the last quarter. Acadian Asset Management LLC purchased a new stake in Neurocrine Biosciences during the 1st quarter worth approximately $27,000. Finally, Dimensional Fund Advisors LP increased its stake in Neurocrine Biosciences by 39.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 417,604 shares of the company’s stock worth $39,148,000 after buying an additional 117,422 shares in the last quarter. Hedge funds and other institutional investors own 92.59% of the company’s stock.

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.