Analysts Set Neurocrine Biosciences, Inc. (NASDAQ:NBIX) Price Target at $161.14

Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Get Free Report) has received an average rating of "Moderate Buy" from the twenty-two brokerages that are covering the stock, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold recommendation and nineteen have given a buy recommendation to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $160.90.

A number of equities analysts recently weighed in on the stock. Morgan Stanley reiterated an "overweight" rating and issued a $150.00 price objective (down from $185.00) on shares of Neurocrine Biosciences in a research report on Friday, March 7th. UBS Group lowered their price objective on shares of Neurocrine Biosciences from $154.00 to $137.00 and set a "buy" rating on the stock in a research report on Friday, April 4th. 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. Deutsche Bank Aktiengesellschaft began coverage on Neurocrine Biosciences in a research note on Tuesday, February 11th. They set a "hold" rating and a $138.00 price target for the company. Finally, Canaccord Genuity Group cut their target price on shares of Neurocrine Biosciences from $163.00 to $158.00 and set a "buy" rating for the company in a research note on Monday.

Insider Activity

In other Neurocrine Biosciences news, insider Ingrid Delaet sold 623 shares of the business's stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $149.29, for a total transaction of $93,007.67. Following the sale, the insider now directly owns 3,442 shares of the company's stock, valued at $513,856.18. The trade was a 15.33 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Kevin Charles Gorman sold 2,707 shares of the business's stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $152.92, for a total transaction of $413,954.44. Following the sale, the director now directly owns 517,030 shares in the company, valued at $79,064,227.60. This trade represents a 0.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 21,801 shares of company stock valued at $2,834,677 in the last quarter. Company insiders own 4.30% of the company's stock.

Institutional Trading of Neurocrine Biosciences

Hedge funds and other institutional investors have recently modified their holdings of the stock. Blackhawk Capital Partners LLC. raised its position in shares of Neurocrine Biosciences by 48.6% in the 1st quarter. Blackhawk Capital Partners LLC. now owns 14,521 shares of the company's stock valued at $1,606,000 after buying an additional 4,750 shares in the last quarter. Crossmark Global Holdings Inc. grew its holdings in Neurocrine Biosciences by 3.8% during the 1st quarter. Crossmark Global Holdings Inc. now owns 8,785 shares of the company's stock worth $972,000 after acquiring an additional 320 shares during the last quarter. IFM Investors Pty Ltd grew its holdings in Neurocrine Biosciences by 2.5% during the 1st quarter. IFM Investors Pty Ltd now owns 19,459 shares of the company's stock worth $2,242,000 after acquiring an additional 469 shares during the last quarter. GF Fund Management CO. LTD. boosted its stake in shares of Neurocrine Biosciences by 22.0% in the 1st quarter. GF Fund Management CO. LTD. now owns 2,593 shares of the company's stock valued at $287,000 after purchasing an additional 467 shares during the last quarter. Finally, Vontobel Holding Ltd. boosted its stake in shares of Neurocrine Biosciences by 17.8% in the 1st quarter. Vontobel Holding Ltd. now owns 9,943 shares of the company's stock valued at $1,100,000 after purchasing an additional 1,501 shares during the last quarter. Institutional investors own 92.59% of the company's stock.

Neurocrine Biosciences Stock Performance

NASDAQ NBIX traded down $0.69 during trading on Friday, reaching $106.55. 56,646 shares of the company's stock were exchanged, compared to its average volume of 1,065,110. The stock has a market cap of $10.54 billion, a P/E ratio of 32.38, a price-to-earnings-growth ratio of 0.77 and a beta of 0.33. The company has a 50 day moving average price of $106.82 and a two-hundred day moving average price of $122.06. 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 results on Thursday, February 6th. The company reported $1.00 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.62 by ($0.62). Neurocrine Biosciences had a return on equity of 13.38% and a net margin of 14.49%. Research analysts forecast that Neurocrine Biosciences will post 4.28 EPS for the current fiscal year.

Neurocrine Biosciences declared that its Board of Directors has initiated a stock repurchase plan on Friday, February 21st that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the company to buy up to 4.2% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's leadership believes its shares are undervalued.

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.