Brokerages Set Neurocrine Biosciences, Inc. (NASDAQ:NBIX) Price Target at $180.45

Neurocrine Biosciences, Inc. (NASDAQ:NBIX) has been assigned an average rating of “Moderate Buy” from the twenty-two ratings firms that are presently covering the firm, Marketbeat Ratings reports. Five analysts have rated the stock with a hold recommendation, sixteen have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $184.15.

Several equities research analysts have weighed in on the company. Weiss Ratings restated a “hold (c+)” rating on shares of Neurocrine Biosciences in a research note on Tuesday, April 21st. Truist Financial upped their target price on Neurocrine Biosciences from $140.00 to $155.00 and gave the stock a “buy” rating in a research note on Thursday. Wall Street Zen upgraded Neurocrine Biosciences from a “buy” rating to a “strong-buy” rating in a research note on Saturday, April 25th. JPMorgan Chase & Co. upped their target price on Neurocrine Biosciences from $177.00 to $185.00 and gave the stock an “overweight” rating in a research note on Friday. Finally, Needham & Company LLC restated a “buy” rating and set a $185.00 target price on shares of Neurocrine Biosciences in a research note on Monday, April 6th.

Neurocrine Biosciences Price Performance

NASDAQ NBIX opened at $152.25 on Tuesday. The business has a fifty day moving average price of $131.12 and a two-hundred day moving average price of $137.85. Neurocrine Biosciences has a fifty-two week low of $115.66 and a fifty-two week high of $160.18. The stock has a market capitalization of $15.31 billion, a PE ratio of 23.46, a PEG ratio of 1.29 and a beta of 0.34.

Neurocrine Biosciences (NASDAQ:NBIX) last released its earnings results on Wednesday, February 11th. The company reported $1.88 earnings per share for the quarter, missing the consensus estimate of $2.36 by ($0.48). Neurocrine Biosciences had a return on equity of 19.79% and a net margin of 21.55%.The business had revenue of $805.50 million for the quarter, compared to the consensus estimate of $804.21 million. During the same quarter in the previous year, the company earned $1.69 earnings per share. The firm’s revenue for the quarter was up 28.3% on a year-over-year basis. As a group, sell-side analysts expect that Neurocrine Biosciences will post 6.57 earnings per share for the current year.

Key Headlines Impacting Neurocrine Biosciences

Here are the key news stories impacting Neurocrine Biosciences this week:

• Positive Sentiment: JPMorgan raised its price target on Neurocrine Biosciences to $185 from $177 and kept an overweight rating, signaling continued confidence in upside potential. Article link
• Positive Sentiment: Truist Financial lifted its price target to $155 from $140 and reiterated a buy rating, adding to the recent analyst support. Article link
• Positive Sentiment: Multiple firms, including Morgan Stanley, Guggenheim, Piper Sandler and Wedbush, issued upbeat views on NBIX, suggesting broad Wall Street optimism around the stock’s outlook. Article link
• Positive Sentiment: Neurocrine’s latest earnings beat helped reassure investors that the company’s core business remains on track, even if some analysts are still refining their models after the report. Article link
• Neutral Sentiment: A Seeking Alpha article argued that the core business is holding up, while noting the Soleno deal could add upside but also introduces risk. Article link

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of NBIX. Royal Bank of Canada increased its holdings in shares of Neurocrine Biosciences by 36.7% during the first quarter. Royal Bank of Canada now owns 82,810 shares of the company’s stock worth $9,158,000 after buying an additional 22,224 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Neurocrine Biosciences by 60.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,783 shares of the company’s stock worth $1,647,000 after buying an additional 5,577 shares in the last quarter. NewEdge Advisors LLC increased its holdings in shares of Neurocrine Biosciences by 56.3% during the first quarter. NewEdge Advisors LLC now owns 7,630 shares of the company’s stock worth $844,000 after buying an additional 2,747 shares in the last quarter. Empowered Funds LLC acquired a new position in shares of Neurocrine Biosciences during the first quarter worth $1,333,000. Finally, Geneos Wealth Management Inc. increased its holdings 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 worth $25,000 after buying an additional 135 shares in the last quarter. 92.59% of the stock is currently owned by institutional investors and hedge funds.

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.