Neurocrine Biosciences, Inc. (NASDAQ:NBIX) Receives $162.00 Consensus Price Target from Brokerages

Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Get Free Report) has earned a consensus recommendation of "Moderate Buy" from the twenty-three brokerages that are covering the firm, Marketbeat reports. Three equities research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $163.91.

A number of equities research analysts recently commented on NBIX shares. UBS Group raised their price objective on shares of Neurocrine Biosciences from $152.00 to $174.00 and gave the company a "buy" rating in a research report on Wednesday. JPMorgan Chase & Co. lifted their price target on Neurocrine Biosciences from $183.00 to $184.00 and gave the company an "overweight" rating in a research note on Wednesday, March 26th. Canaccord Genuity Group increased their price objective on Neurocrine Biosciences from $158.00 to $160.00 and gave the stock a "buy" rating in a research report on Tuesday, May 6th. Evercore ISI decreased their target price on shares of Neurocrine Biosciences from $190.00 to $185.00 and set an "outperform" rating on the stock in a research report on Thursday, April 24th. Finally, Piper Sandler reaffirmed an "overweight" rating and set a $154.00 price target (down from $160.00) on shares of Neurocrine Biosciences in a research note on Tuesday, May 6th.

Insider Activity

In other news, Director Kevin Charles Gorman sold 9,613 shares of the business'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 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 filing with the SEC, which is accessible through the SEC website. Also, Director William H. Rastetter sold 30,000 shares of the firm's stock in a transaction 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 transaction, the director owned 37,491 shares of the company's stock, valued at $4,131,508.20. The trade was a 44.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 59,975 shares of company stock worth $7,112,920. 4.80% of the stock is currently owned by corporate insiders.

Institutional Trading of Neurocrine Biosciences

Hedge funds have recently bought and sold shares of the stock. Huntington National Bank boosted its stake in 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. Geneos Wealth Management Inc. grew its stake in Neurocrine Biosciences by 143.6% during the first quarter. Geneos Wealth Management Inc. now owns 229 shares of the company's stock valued at $25,000 after acquiring an additional 135 shares in the last quarter. GeoWealth Management LLC increased its holdings in Neurocrine Biosciences by 65.4% in the 4th quarter. GeoWealth Management LLC now owns 258 shares of the company's stock valued at $35,000 after acquiring an additional 102 shares during the last quarter. WPG Advisers LLC bought a new stake in Neurocrine Biosciences in the 1st quarter valued at $32,000. Finally, Smallwood Wealth Investment Management LLC purchased a new stake in Neurocrine Biosciences in the 1st quarter worth $34,000. Institutional investors own 92.59% of the company's stock.

Neurocrine Biosciences Price Performance

Shares of NASDAQ:NBIX traded up $1.41 during trading on Wednesday, reaching $134.92. The company had a trading volume of 1,051,174 shares, compared to its average volume of 1,145,529. Neurocrine Biosciences has a fifty-two week low of $84.23 and a fifty-two week high of $157.98. The stock's fifty day moving average price is $123.15 and its 200 day moving average price is $121.67. The firm has a market capitalization of $13.35 billion, a price-to-earnings ratio of 45.74, a price-to-earnings-growth ratio of 1.37 and a beta of 0.24.

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