Neurocrine Biosciences (NASDAQ:NBIX) Price Target Raised to $145.00

Key Points

• JPMorgan Chase & Co. has raised its price target for Neurocrine Biosciences from $140 to $145, suggesting a potential upside of 13.08% from its previous close.
• The stock has received several upgrades from other analysts as well, with a consensus target price of $163.58 and a majority rating of "Moderate Buy."
• Shares of Neurocrine Biosciences traded down $8.53 on Thursday, landing at $128.23, while the company reported better-than-expected earnings with a revenue increase of 16.5% year-over-year.

Neurocrine Biosciences (NASDAQ:NBIX - Free Report) had its price objective boosted by JPMorgan Chase & Co. from $140.00 to $145.00 in a research report report published on Thursday,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the stock.

A number of other equities research analysts also recently weighed in on the company. HC Wainwright decreased their price objective on Neurocrine Biosciences from $185.00 to $168.00 and set a "buy" rating on the stock in a report on Tuesday, April 22nd. The Goldman Sachs Group started coverage on Neurocrine Biosciences in a report on Thursday, July 10th. They set a "buy" rating and a $182.00 price objective on the stock. Royal Bank Of Canada cut their target price on shares of Neurocrine Biosciences from $146.00 to $144.00 and set an "outperform" rating for the company in a research note on Thursday. Truist Financial started coverage on shares of Neurocrine Biosciences in a research note on Monday, July 21st. They issued a "buy" rating and a $163.00 target price for the company. Finally, UBS Group lifted their target price on shares of Neurocrine Biosciences from $152.00 to $174.00 and gave the company a "buy" rating in a research note on Wednesday, July 9th. Three analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $160.90.

Neurocrine Biosciences Trading Up 0.5%

NBIX stock traded up $0.68 during trading on Thursday, reaching $128.91. 1,395,006 shares of the stock were exchanged, compared to its average volume of 901,206. Neurocrine Biosciences has a twelve month low of $84.23 and a twelve month high of $157.40. The company has a market capitalization of $12.79 billion, a P/E ratio of 38.14, a price-to-earnings-growth ratio of 1.32 and a beta of 0.25. The stock has a 50 day simple moving average of $128.26 and a 200-day simple moving average of $120.88.

Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The company reported $1.06 earnings per share for the quarter, beating analysts' consensus estimates of $0.98 by $0.08. The company had revenue of $687.50 million for the quarter, compared to the consensus estimate of $653.09 million. Neurocrine Biosciences had a return on equity of 13.22% and a net margin of 13.88%. The company's quarterly revenue was up 16.5% on a year-over-year basis. During the same period in the previous year, the business earned $1.63 earnings per share. Equities analysts predict that Neurocrine Biosciences will post 4.28 EPS for the current year.

Insider Buying and Selling at Neurocrine Biosciences

In other Neurocrine Biosciences news, Director Kevin Charles Gorman sold 9,613 shares of the company's stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $120.38, for a total transaction of $1,157,212.94. Following the completion of the sale, the director owned 514,596 shares in the company, valued at approximately $61,947,066.48. The trade was a 1.83% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Ingrid Delaet sold 457 shares of the company's stock in a transaction on Thursday, July 10th. The shares were sold at an average price of $135.00, for a total transaction of $61,695.00. Following the sale, the insider owned 4,730 shares of the company's stock, valued at $638,550. The trade was a 8.81% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 120,251 shares of company stock worth $14,978,602. 4.80% of the stock is currently owned by insiders.

Institutional Trading of Neurocrine Biosciences

Several institutional investors and hedge funds have recently made changes to their positions in the business. Dodge & Cox raised its position in shares of Neurocrine Biosciences by 83.5% during the 1st quarter. Dodge & Cox now owns 5,534,624 shares of the company's stock valued at $612,129,000 after acquiring an additional 2,518,199 shares during the last quarter. Wellington Management Group LLP increased its position in shares of Neurocrine Biosciences by 44.0% in the 1st quarter. Wellington Management Group LLP now owns 2,097,981 shares of the company's stock valued at $232,037,000 after buying an additional 640,556 shares in the last quarter. AQR Capital Management LLC increased its position in shares of Neurocrine Biosciences by 2.9% in the 4th quarter. AQR Capital Management LLC now owns 1,896,891 shares of the company's stock valued at $258,926,000 after buying an additional 53,610 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Neurocrine Biosciences by 0.9% in the 4th quarter. Geode Capital Management LLC now owns 1,875,062 shares of the company's stock valued at $255,523,000 after buying an additional 15,830 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD increased its position in shares of Neurocrine Biosciences by 3.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,539,601 shares of the company's stock valued at $170,281,000 after buying an additional 49,088 shares in the last quarter. Institutional investors own 92.59% of the company's stock.

Neurocrine Biosciences Company Profile

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.