Neurocrine Biosciences (NASDAQ:NBIX) Price Target Raised to $200.00

Neurocrine Biosciences (NASDAQ:NBIX) had its target price increased by TD Cowen from $175.00 to $200.00 in a research note released on Friday morning,Benzinga reports. They currently have a buy rating on the stock.

A number of other research firms also recently commented on NBIX. JPMorgan Chase & Co. raised their price objective on shares of Neurocrine Biosciences from $171.00 to $179.00 and gave the stock an “overweight” rating in a report on Monday, November 3rd. Citigroup increased their target price on Neurocrine Biosciences from $175.00 to $203.00 and gave the stock a “buy” rating in a report on Wednesday, October 29th. Morgan Stanley reduced their target price on shares of Neurocrine Biosciences from $178.00 to $173.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 11th. Piper Sandler upped their price objective on shares of Neurocrine Biosciences from $175.00 to $179.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 29th. Finally, Needham & Company LLC boosted their target price on Neurocrine Biosciences from $170.00 to $184.00 and gave the stock a “buy” rating in a report on Wednesday, October 29th. One research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Neurocrine Biosciences currently has a consensus rating of “Moderate Buy” and a consensus price target of $172.00.

Neurocrine Biosciences Trading Up 0.8%

Shares of NBIX stock opened at $155.51 on Friday. Neurocrine Biosciences has a 12 month low of $84.23 and a 12 month high of $157.67. The company has a market capitalization of $15.51 billion, a P/E ratio of 37.20, a P/E/G ratio of 1.02 and a beta of 0.27. The stock has a 50 day moving average of $143.72 and a two-hundred day moving average of $136.15.

Neurocrine Biosciences (NASDAQ:NBIX) last issued its earnings results on Tuesday, October 28th. The company reported $2.17 EPS for the quarter, beating analysts’ consensus estimates of $1.58 by $0.59. The business had revenue of $794.90 million during the quarter, compared to analyst estimates of $746.61 million. Neurocrine Biosciences had a return on equity of 15.82% and a net margin of 15.95%.Neurocrine Biosciences’s revenue was up 27.8% on a year-over-year basis. During the same period in the prior year, the company posted $1.81 earnings per share. Sell-side analysts predict that Neurocrine Biosciences will post 4.28 earnings per share for the current fiscal year.

Insider Activity

In related news, Director George J. Morrow sold 15,000 shares of Neurocrine Biosciences stock in a transaction dated Tuesday, November 25th. The stock was sold at an average price of $143.37, for a total value of $2,150,550.00. Following the completion of the sale, the director directly owned 7,068 shares in the company, valued at $1,013,339.16. This trade represents a 67.97% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Kyle Gano sold 300 shares of the company’s stock in a transaction dated Tuesday, November 4th. The shares were sold at an average price of $141.97, for a total transaction of $42,591.00. Following the transaction, the chief executive officer owned 140,407 shares in the company, valued at approximately $19,933,581.79. The trade was a 0.21% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 33,300 shares of company stock valued at $4,925,901. Company insiders own 4.30% of the company’s stock.

Institutional Investors Weigh In On Neurocrine Biosciences

A number of institutional investors and hedge funds have recently modified their holdings of NBIX. Assetmark Inc. grew its position in Neurocrine Biosciences by 10.8% during the second quarter. Assetmark Inc. now owns 21,001 shares of the company’s stock worth $2,640,000 after buying an additional 2,045 shares in the last quarter. Rhenman & Partners Asset Management AB lifted its position in shares of Neurocrine Biosciences by 66.1% during the 2nd quarter. Rhenman & Partners Asset Management AB now owns 149,217 shares of the company’s stock valued at $18,755,000 after acquiring an additional 59,400 shares during the period. Saturn V Capital Management LP bought a new stake in shares of Neurocrine Biosciences during the 2nd quarter valued at $7,313,000. Capital Fund Management S.A. grew its holdings in shares of Neurocrine Biosciences by 15.9% during the 2nd quarter. Capital Fund Management S.A. now owns 203,628 shares of the company’s stock worth $25,594,000 after purchasing an additional 27,987 shares in the last quarter. Finally, Envestnet Asset Management Inc. increased its position in shares of Neurocrine Biosciences by 61.9% in the second quarter. Envestnet Asset Management Inc. now owns 198,039 shares of the company’s stock worth $24,891,000 after purchasing an additional 75,733 shares during the period. 92.59% of the stock is owned by institutional investors.

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.