Morgan Stanley Issues Positive Forecast for Neurocrine Biosciences (NASDAQ:NBIX) Stock Price

Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) had its target price raised by research analysts at Morgan Stanley from $148.00 to $150.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage presently has an "overweight" rating on the stock. Morgan Stanley's price target points to a potential upside of 13.95% from the stock's current price.

Other analysts have also issued reports about the company. Wedbush reissued an "outperform" rating on shares of Neurocrine Biosciences in a report on Tuesday, May 6th. Needham & Company LLC upped their target price on Neurocrine Biosciences from $138.00 to $139.00 and gave the company a "buy" rating in a report on Tuesday, May 6th. Truist Financial initiated coverage on Neurocrine Biosciences in a report on Monday. They set a "buy" rating and a $163.00 target price for the company. BMO Capital Markets upped their target price on Neurocrine Biosciences from $96.00 to $115.00 and gave the company a "market perform" rating in a report on Tuesday, May 6th. Finally, Guggenheim upped their target price on Neurocrine Biosciences from $155.00 to $165.00 and gave the company a "buy" rating in a report on Tuesday, May 6th. Three research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $163.87.

Neurocrine Biosciences Stock Down 1.5%

NASDAQ NBIX traded down $2.02 during mid-day trading on Tuesday, hitting $131.64. The stock had a trading volume of 885,761 shares, compared to its average volume of 1,291,279. The company has a 50 day simple moving average of $126.68 and a 200 day simple moving average of $121.38. The company has a market cap of $13.03 billion, a price-to-earnings ratio of 44.62, a P/E/G ratio of 1.36 and a beta of 0.24. Neurocrine Biosciences has a 52-week low of $84.23 and a 52-week high of $157.98.

Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) last issued its quarterly earnings data on Monday, May 5th. The company reported $0.08 EPS for the quarter, missing analysts' consensus estimates of $0.70 by ($0.62). Neurocrine Biosciences had a return on equity of 11.81% and a net margin of 12.68%. The company had revenue of $572.60 million for the quarter, compared to analyst estimates of $587.06 million. During the same quarter in the prior year, the firm earned $1.20 EPS. The company's revenue for the quarter was up 11.1% compared to the same quarter last year. As a group, equities analysts anticipate that Neurocrine Biosciences will post 4.28 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Ingrid Delaet sold 457 shares of the stock in a transaction that occurred on Thursday, July 10th. The shares were sold at an average price of $135.00, for a total value of $61,695.00. Following the completion of the transaction, the insider owned 4,730 shares of the company's stock, valued at $638,550. This represents a 8.81% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Kevin Charles Gorman sold 9,613 shares of the firm'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 transaction, the director directly owned 514,596 shares of the company's stock, valued at $61,947,066.48. The trade was a 1.83% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 120,251 shares of company stock worth $14,978,602. Insiders own 4.80% of the company's stock.

Hedge Funds Weigh In On Neurocrine Biosciences

Several large investors have recently modified their holdings of the business. OneDigital Investment Advisors LLC lifted its stake in shares of Neurocrine Biosciences by 2.1% in the 4th quarter. OneDigital Investment Advisors LLC now owns 4,215 shares of the company's stock worth $575,000 after purchasing an additional 87 shares during the period. IFP Advisors Inc lifted its stake in shares of Neurocrine Biosciences by 4.2% in the 2nd quarter. IFP Advisors Inc now owns 2,172 shares of the company's stock worth $273,000 after purchasing an additional 88 shares during the period. HighPoint Advisor Group LLC lifted its stake in shares of Neurocrine Biosciences by 4.1% in the 4th quarter. HighPoint Advisor Group LLC now owns 2,446 shares of the company's stock worth $334,000 after purchasing an additional 96 shares during the period. Huntington National Bank lifted its stake in shares of Neurocrine Biosciences by 73.5% in the 4th quarter. Huntington National Bank now owns 229 shares of the company's stock worth $31,000 after purchasing an additional 97 shares during the period. Finally, Utah Retirement Systems lifted its stake in shares of Neurocrine Biosciences by 0.6% in the 4th quarter. Utah Retirement Systems now owns 16,583 shares of the company's stock worth $2,264,000 after purchasing an additional 100 shares during the period. 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.