Canaccord Genuity Group Raises Neurocrine Biosciences (NASDAQ:NBIX) Price Target to $200.00

Neurocrine Biosciences (NASDAQ:NBIX) had its price target hoisted by equities researchers at Canaccord Genuity Group from $164.00 to $200.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Canaccord Genuity Group’s price target points to a potential upside of 50.21% from the stock’s previous close.

NBIX has been the topic of several other research reports. Citigroup lifted their price target on shares of Neurocrine Biosciences from $203.00 to $204.00 and gave the stock a “buy” rating in a research note on Thursday, February 12th. UBS Group dropped their price target on shares of Neurocrine Biosciences from $188.00 to $178.00 and set a “buy” rating on the stock in a research note on Friday, January 23rd. Mizuho lifted their price target on shares of Neurocrine Biosciences from $146.00 to $175.00 and gave the stock a “neutral” rating in a research note on Friday, December 12th. Wedbush lifted their price target on shares of Neurocrine Biosciences from $151.00 to $166.00 and gave the stock an “outperform” rating in a research note on Tuesday. Finally, Needham & Company LLC reiterated a “buy” rating and set a $185.00 price target on shares of Neurocrine Biosciences in a research note on Monday. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $180.70.

Neurocrine Biosciences Trading Up 1.7%

Shares of NBIX stock opened at $133.15 on Tuesday. Neurocrine Biosciences has a 12-month low of $84.23 and a 12-month high of $160.18. The firm’s 50 day moving average is $131.43 and its 200 day moving average is $138.87. The stock has a market capitalization of $13.36 billion, a P/E ratio of 28.57, a P/E/G ratio of 0.69 and a beta of 0.35.

Neurocrine Biosciences (NASDAQ:NBIX) last issued its earnings results on Wednesday, February 11th. The company reported $1.88 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.36 by ($0.48). Neurocrine Biosciences had a return on equity of 16.48% and a net margin of 16.73%.The company had revenue of $805.50 million during the quarter, compared to analysts’ expectations of $804.21 million. During the same quarter in the prior year, the business posted $1.69 EPS. The company’s revenue for the quarter was up 28.3% compared to the same quarter last year. As a group, equities analysts predict that Neurocrine Biosciences will post 4.28 earnings per share for the current year.

Insider Buying and Selling at Neurocrine Biosciences

In related news, CEO Kyle Gano sold 36,400 shares of Neurocrine Biosciences stock in a transaction on Friday, January 16th. The shares were sold at an average price of $132.70, for a total transaction of $4,830,280.00. Following the transaction, the chief executive officer owned 140,407 shares in the company, valued at approximately $18,632,008.90. The trade was a 20.59% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 4.80% of the company’s stock.

Institutional Trading of Neurocrine Biosciences

A number of institutional investors and hedge funds have recently bought and sold shares of NBIX. AQR Capital Management LLC increased its holdings in Neurocrine Biosciences by 83.7% in the 3rd quarter. AQR Capital Management LLC now owns 2,773,648 shares of the company’s stock valued at $388,435,000 after acquiring an additional 1,263,633 shares during the last quarter. Norges Bank bought a new stake in Neurocrine Biosciences in the 4th quarter valued at $162,664,000. UBS Group AG increased its holdings in Neurocrine Biosciences by 169.8% in the 4th quarter. UBS Group AG now owns 983,528 shares of the company’s stock valued at $139,494,000 after acquiring an additional 618,956 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in Neurocrine Biosciences by 11.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,730,152 shares of the company’s stock valued at $664,019,000 after acquiring an additional 468,405 shares during the last quarter. Finally, Zurich Insurance Group Ltd FI bought a new stake in Neurocrine Biosciences in the 4th quarter valued at $65,162,000. 92.59% of the stock is currently owned by institutional investors.

Key Headlines Impacting Neurocrine Biosciences

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

• Positive Sentiment: Acquisition — Neurocrine agreed to buy Soleno Therapeutics for $2.9 billion, adding Vykat XR (a treatment for a rare metabolic disorder) and diversifying Neurocrine’s endocrinology/rare-disease portfolio; investors see this as near-term revenue and pipeline upside. GEN: Neurocrine grows with Soleno buyout
• Positive Sentiment: Deal details/valuation impact — Coverage notes the Soleno deal adds Vykat XR and alters Neurocrine’s valuation story by bringing a commercial asset that shortens time to value. Yahoo: Soleno deal adds Vykat XR
• Positive Sentiment: Analyst support — Multiple firms raised price targets and maintained Buy/outperform ratings (Needham reaffirmed Buy), signaling increased analyst conviction that management’s M&A and execution justify higher valuations. Needham reaffirms Buy
• Positive Sentiment: Broker upgrades — Citi raised its target sharply to $242, HC Wainwright, Canaccord, Wedbush and others lifted targets or reiterated Buys, boosting consensus upside and likely supporting the rally. Benzinga: multiple price-target raises
• Neutral Sentiment: Valuation discussion — Coverage highlights that long-term returns have outpaced a richer earnings multiple; investors should weigh growth from the Soleno acquisition against an elevated valuation. Yahoo: assessing NBIX valuation
• Neutral Sentiment: Regulatory/launch prioritization — Soleno withdrew its EU marketing application ahead of the takeover as Neurocrine prioritizes a U.S. launch; this focuses resources on the larger U.S. commercial opportunity but delays/forgoes near-term EU upside. Reuters: Soleno withdraws EU application Economic Times: EU withdrawal
• Negative Sentiment: Near-term pipeline lull risk — Analysts note the acquisition helps diversify growth but flag a near-term pipeline lull and integration/launch execution risk, which could pressure the stock if commercial uptake or synergies are slower than expected. TipRanks: acquisition offsets near-term lull

About Neurocrine Biosciences

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.