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

Shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Get Free Report) have been given a consensus rating of "Moderate Buy" by the twenty-three research firms that are currently covering the company, MarketBeat.com reports. Three 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 research analysts recently commented on NBIX shares. UBS Group boosted 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. Needham & Company LLC boosted their price target on shares of Neurocrine Biosciences from $138.00 to $139.00 and gave the company a "buy" rating in a report on Tuesday, May 6th. Wall Street Zen downgraded shares of Neurocrine Biosciences from a "strong-buy" rating to a "buy" rating in a research note on Thursday, March 20th. Royal Bank Of Canada reissued an "outperform" rating and set a $145.00 price objective on shares of Neurocrine Biosciences in a research report on Monday, June 2nd. Finally, Canaccord Genuity Group boosted their target price on Neurocrine Biosciences from $158.00 to $160.00 and gave the company a "buy" rating in a research note on Tuesday, May 6th.

Neurocrine Biosciences Stock Down 1.1%

Shares of NBIX traded down $1.45 during mid-day trading on Wednesday, reaching $133.47. The company's stock had a trading volume of 431,137 shares, compared to its average volume of 1,143,821. The company has a market cap of $13.21 billion, a price-to-earnings ratio of 45.24, a price-to-earnings-growth ratio of 1.37 and a beta of 0.24. The business has a fifty day moving average of $123.15 and a 200 day moving average of $121.67. 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 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 return on equity of 11.81% and a net margin of 12.68%. The business had revenue of $572.60 million during the quarter, compared to analysts' expectations of $587.06 million. During the same period in the prior year, the company posted $1.20 earnings per share. The firm's revenue was up 11.1% on a year-over-year basis. On average, analysts predict that Neurocrine Biosciences will post 4.28 earnings per share for the current year.

Insider Activity at Neurocrine Biosciences

In other Neurocrine Biosciences news, Director Kevin Charles Gorman sold 9,613 shares of the company'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 value of $1,157,212.94. Following the completion of the transaction, the director owned 514,596 shares of the company's stock, valued at $61,947,066.48. This represents a 1.83% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director William H. Rastetter sold 30,000 shares of Neurocrine Biosciences stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $110.20, for a total value of $3,306,000.00. Following the sale, the director directly owned 37,491 shares in the company, valued at $4,131,508.20. The trade was a 44.45% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 59,975 shares of company stock worth $7,112,920. Company insiders own 4.80% of the company's stock.

Hedge Funds Weigh In On Neurocrine Biosciences

A number of hedge funds have recently made changes to their positions in NBIX. Vanguard Group Inc. boosted its stake in shares of Neurocrine Biosciences by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 10,119,641 shares of the company's stock valued at $1,381,331,000 after purchasing an additional 122,681 shares in the last quarter. Dodge & Cox lifted its holdings in Neurocrine Biosciences by 83.5% in the first quarter. Dodge & Cox now owns 5,534,624 shares of the company's stock valued at $612,129,000 after buying an additional 2,518,199 shares during the period. Wellington Management Group LLP grew its stake in shares of Neurocrine Biosciences by 44.0% during the first quarter. Wellington Management Group LLP now owns 2,097,981 shares of the company's stock worth $232,037,000 after purchasing an additional 640,556 shares during the period. AQR Capital Management LLC increased its stake 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 acquiring an additional 53,610 shares during the last quarter. Finally, Geode Capital Management LLC grew 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 purchasing an additional 15,830 shares during the period. Institutional investors and hedge funds own 92.59% of the company's stock.

About Neurocrine Biosciences

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.