BMO Capital Markets Raises Neurocrine Biosciences (NASDAQ:NBIX) Price Target to $115.00

Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) had its price target boosted by stock analysts at BMO Capital Markets from $96.00 to $115.00 in a research report issued on Tuesday,Benzinga reports. The brokerage currently has a "market perform" rating on the stock. BMO Capital Markets' target price indicates a potential downside of 0.61% from the company's previous close.

A number of other analysts also recently weighed in on the stock. HC Wainwright cut their price target on shares of Neurocrine Biosciences from $185.00 to $168.00 and set a "buy" rating on the stock in a research report on Tuesday, April 22nd. JPMorgan Chase & Co. lifted their price target on shares of Neurocrine Biosciences from $183.00 to $184.00 and gave the stock an "overweight" rating in a research report on Wednesday, March 26th. Needham & Company LLC raised their price objective on Neurocrine Biosciences from $138.00 to $139.00 and gave the stock a "buy" rating in a research note on Tuesday, May 6th. Bank of America lowered their price target on Neurocrine Biosciences from $184.00 to $179.00 and set a "buy" rating for the company in a report on Friday, February 7th. Finally, Canaccord Genuity Group lifted their price objective on Neurocrine Biosciences from $158.00 to $160.00 and gave the company a "buy" rating in a report on Tuesday, May 6th. Three equities research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $162.00.

Neurocrine Biosciences Stock Down 1.5 %

NBIX stock traded down $1.81 during midday trading on Tuesday, reaching $115.71. The company's stock had a trading volume of 1,319,681 shares, compared to its average volume of 1,115,471. The business's 50-day simple moving average is $106.23 and its 200-day simple moving average is $121.85. Neurocrine Biosciences has a 52 week low of $84.23 and a 52 week high of $157.98. The stock has a market cap of $11.45 billion, a PE ratio of 35.17, a price-to-earnings-growth ratio of 0.77 and a beta of 0.26.

Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) last announced 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 13.38% and a net margin of 14.49%. The company had revenue of $572.60 million for the quarter, compared to analyst estimates of $587.06 million. During the same period last year, the firm earned $1.20 earnings per share. The firm's revenue for the quarter was up 11.1% on a year-over-year basis. As a group, equities analysts forecast that Neurocrine Biosciences will post 4.28 earnings per share for the current fiscal year.

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

Insider Transactions at Neurocrine Biosciences

In other news, Director William H. Rastetter sold 30,000 shares of Neurocrine Biosciences 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 completion of the sale, the director now directly owns 37,491 shares in the company, valued at approximately $4,131,508.20. The trade was a 44.45 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Kevin Charles Gorman sold 5,844 shares of the stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $116.69, for a total value of $681,936.36. Following the sale, the director now directly owns 521,618 shares in the company, valued at $60,867,604.42. This represents a 1.11 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 43,907 shares of company stock worth $4,935,982. Company insiders own 4.80% of the company's stock.

Institutional Investors Weigh In On Neurocrine Biosciences

A number of large investors have recently bought and sold shares of NBIX. Dodge & Cox lifted its holdings in shares of Neurocrine Biosciences by 134.2% during the 4th quarter. Dodge & Cox now owns 3,016,425 shares of the company's stock worth $411,742,000 after acquiring an additional 1,728,605 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of Neurocrine Biosciences in the 4th quarter valued at $115,193,000. Wellington Management Group LLP boosted its holdings in shares of Neurocrine Biosciences by 102.9% in the 4th quarter. Wellington Management Group LLP now owns 1,457,425 shares of the company's stock valued at $198,939,000 after purchasing an additional 739,199 shares in the last quarter. Thrivent Financial for Lutherans increased its stake in shares of Neurocrine Biosciences by 2,759.4% in the 4th quarter. Thrivent Financial for Lutherans now owns 737,772 shares of the company's stock valued at $100,705,000 after purchasing an additional 711,970 shares during the last quarter. Finally, Orbimed Advisors LLC raised its holdings in shares of Neurocrine Biosciences by 210.4% during the 4th quarter. Orbimed Advisors LLC now owns 938,120 shares of the company's stock worth $128,053,000 after buying an additional 635,900 shares in the last quarter. 92.59% of the stock is currently owned by institutional investors and hedge funds.

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.