Neurocrine Biosciences, Inc. (NASDAQ:NBIX) Stock Has Consensus Target Price of $201.14

Shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) have been assigned a consensus recommendation of “Moderate Buy” from the twenty-four brokerages that are currently covering the stock, Marketbeat reports. Four research analysts have rated the stock with a hold recommendation, nineteen have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $201.14.

A number of analysts have recently issued reports on the stock. Cantor Fitzgerald boosted their target price on shares of Neurocrine Biosciences from $210.00 to $215.00 and gave the company an “overweight” rating in a research note on Friday, July 31st. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $198.00 price target on shares of Neurocrine Biosciences in a research note on Tuesday, September 8th. TD Cowen raised their price target on shares of Neurocrine Biosciences from $200.00 to $220.00 and gave the stock a “buy” rating in a research note on Friday, July 31st. UBS Group decreased their price objective on shares of Neurocrine Biosciences from $231.00 to $214.00 and set a “buy” rating for the company in a report on Tuesday, September 29th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $204.00 price objective on shares of Neurocrine Biosciences in a research report on Friday, October 16th.

Insider Buying and Selling

In other news, CFO Matt Abernethy sold 2,311 shares of the firm’s stock in a transaction that occurred on Monday, September 14th. The shares were sold at an average price of $157.20, for a total transaction of $363,289.20. Following the transaction, the chief financial officer directly owned 42,808 shares of the company’s stock, valued at approximately $6,729,417.60. This trade represents a 5.12% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider David Boyer sold 826 shares of the business’s stock in a transaction that occurred on Monday, September 14th. The shares were sold at an average price of $157.45, for a total value of $130,053.70. Following the completion of the sale, the insider owned 8,722 shares of the company’s stock, valued at $1,373,278.90. The trade was a 8.65% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Company insiders own 4.60% of the company’s stock.

Hedge Funds Weigh In On Neurocrine Biosciences

A number of hedge funds and other institutional investors have recently made changes to their positions in NBIX. Basecamp Wealth Advisors LLC grew its position in 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 purchasing an additional 204 shares during the period. Raleigh Capital Management Inc. raised its position in Neurocrine Biosciences by 561.8% during the third quarter. Raleigh Capital Management Inc. now owns 225 shares of the company’s stock valued at $32,000 after acquiring an additional 191 shares in the last quarter. Cassaday & Co Wealth Management LLC acquired a new position in Neurocrine Biosciences in the first quarter valued at approximately $33,000. Ascentis Independent Advisors purchased a new stake in Neurocrine Biosciences in the 1st quarter worth approximately $40,000. Finally, SJS Investment Consulting Inc. boosted its position in Neurocrine Biosciences by 67.2% in the 1st quarter. SJS Investment Consulting Inc. now owns 341 shares of the company’s stock worth $45,000 after purchasing an additional 137 shares in the last quarter. Institutional investors own 92.59% of the company’s stock.

Neurocrine Biosciences Price Performance

Shares of NASDAQ NBIX opened at $146.10 on Tuesday. The company has a market cap of $14.85 billion, a P/E ratio of 21.42, a PEG ratio of 0.64 and a beta of 0.40. Neurocrine Biosciences has a 1 year low of $122.14 and a 1 year high of $186.12. The firm has a 50-day simple moving average of $146.63 and a two-hundred day simple moving average of $147.39.

Neurocrine Biosciences (NASDAQ:NBIX) last released its earnings results on Friday, July 31st. The company reported $2.85 EPS 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 firm had revenue of $959.00 million for the quarter, compared to analysts’ expectations of $891.16 million. During the same quarter in the prior year, the firm posted $1.65 earnings per share. The company’s quarterly revenue was up 39.5% on a year-over-year basis. As a group, equities research analysts expect that Neurocrine Biosciences will post 7.72 EPS for the current year.

About Neurocrine Biosciences

Neurocrine Biosciences, Inc is a San Diego-based biopharmaceutical company focused on discovering, developing and commercializing medicines for neurological, neuroendocrine and psychiatric disorders. The company’s research programs target conditions in which treatments may address significant unmet medical needs.

Neurocrine’s leading 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.