Brokerages Set Neurocrine Biosciences, Inc. (NASDAQ:NBIX) PT at $162.00

Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Get Free Report) has been assigned a consensus rating of "Moderate Buy" from the twenty-two analysts that are covering the firm, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold rating and nineteen have issued a buy rating on the company. The average twelve-month target price among brokers that have covered the stock in the last year is $163.05.

NBIX has been the subject of a number of analyst reports. JPMorgan Chase & Co. increased their target price on shares of Neurocrine Biosciences from $183.00 to $184.00 and gave the stock an "overweight" rating in a report on Wednesday, March 26th. Evercore ISI lowered their price objective on shares of Neurocrine Biosciences from $190.00 to $185.00 and set an "outperform" rating for the company in a report on Thursday, April 24th. HC Wainwright lowered their price objective on shares of Neurocrine Biosciences from $185.00 to $168.00 and set a "buy" rating for the company in a report on Tuesday, April 22nd. Canaccord Genuity Group raised their price objective on shares of Neurocrine Biosciences from $158.00 to $160.00 and gave the stock a "buy" rating in a report on Tuesday, May 6th. Finally, Guggenheim raised their price objective on shares of Neurocrine Biosciences from $155.00 to $165.00 and gave the stock a "buy" rating in a report on Tuesday, May 6th.

Insider Activity at Neurocrine Biosciences

In related news, Director William H. Rastetter sold 30,000 shares of the firm's stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $110.20, for a total value of $3,306,000.00. Following the sale, the director owned 37,491 shares in the company, valued at approximately $4,131,508.20. This trade represents a 44.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Kevin Charles Gorman sold 9,613 shares of the firm's stock in a transaction that occurred on Tuesday, May 27th. The stock was 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 $61,947,066.48. This represents a 1.83% decrease in their position. The disclosure for this sale can be found here. Insiders sold 59,975 shares of company stock valued at $7,112,920 over the last 90 days. Corporate insiders own 4.30% of the company's stock.

Institutional Investors Weigh In On Neurocrine Biosciences

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Geneos Wealth Management Inc. boosted its holdings in Neurocrine Biosciences by 143.6% in the first quarter. Geneos Wealth Management Inc. now owns 229 shares of the company's stock worth $25,000 after purchasing an additional 135 shares during the last quarter. Huntington National Bank boosted its holdings in Neurocrine Biosciences by 73.5% in the fourth quarter. Huntington National Bank now owns 229 shares of the company's stock worth $31,000 after purchasing an additional 97 shares during the last quarter. WPG Advisers LLC purchased a new stake in Neurocrine Biosciences in the first quarter worth approximately $32,000. Smallwood Wealth Investment Management LLC purchased a new stake in Neurocrine Biosciences in the first quarter worth approximately $34,000. Finally, GeoWealth Management LLC boosted its holdings in Neurocrine Biosciences by 65.4% in the fourth quarter. GeoWealth Management LLC now owns 258 shares of the company's stock worth $35,000 after purchasing an additional 102 shares during the last quarter. Hedge funds and other institutional investors own 92.59% of the company's stock.

Neurocrine Biosciences Stock Up 3.7%

Shares of Neurocrine Biosciences stock traded up $4.77 during trading on Wednesday, reaching $133.51. 1,261,236 shares of the stock were exchanged, compared to its average volume of 1,142,388. The stock's fifty day moving average is $122.63 and its 200 day moving average is $121.58. The firm has a market cap of $13.21 billion, a price-to-earnings ratio of 45.26, a price-to-earnings-growth ratio of 1.31 and a beta of 0.24. Neurocrine Biosciences has a 1 year low of $84.23 and a 1 year high of $157.98.

Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) last posted its earnings results on Monday, May 5th. The company reported $0.08 earnings per share for the quarter, missing analysts' consensus estimates of $0.70 by ($0.62). The firm had revenue of $572.60 million for the quarter, compared to analysts' expectations of $587.06 million. Neurocrine Biosciences had a return on equity of 11.81% and a net margin of 12.68%. The business's revenue for the quarter was up 11.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.20 earnings per share. Equities analysts forecast that Neurocrine Biosciences will post 4.28 earnings per share for the current year.

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.