Neurocrine Biosciences (NASDAQ:NBIX) Price Target Raised to $165.00

Neurocrine Biosciences (NASDAQ:NBIX - Free Report) had its target price boosted by Guggenheim from $155.00 to $165.00 in a research report sent to investors on Tuesday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

NBIX has been the topic of several other reports. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Neurocrine Biosciences in a report on Tuesday, February 11th. They issued a "hold" rating and a $138.00 price target on the stock. UBS Group lowered their price target on Neurocrine Biosciences from $154.00 to $137.00 and set a "buy" rating for the company in a report on Friday, April 4th. HC Wainwright dropped their target price 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. Evercore ISI decreased their price target 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. Finally, Needham & Company LLC boosted their price objective 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. Three research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $162.00.

Neurocrine Biosciences Trading Down 1.5 %

NASDAQ:NBIX traded down $1.81 during mid-day 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 stock has a market cap of $11.45 billion, a P/E ratio of 35.17, a PEG ratio of 0.77 and a beta of 0.26. The firm's fifty day moving average price is $106.23 and its two-hundred day moving average price is $121.85. Neurocrine Biosciences has a 12-month low of $84.23 and a 12-month high of $157.98.

Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) last posted its quarterly earnings data 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 during the quarter, compared to analysts' expectations of $587.06 million. Neurocrine Biosciences had a return on equity of 13.38% and a net margin of 14.49%. The business's revenue for the quarter was up 11.1% compared to the same quarter last year. During the same period last year, the company earned $1.20 earnings per share. Analysts predict that Neurocrine Biosciences will post 4.28 earnings per share for the current fiscal year.

Neurocrine Biosciences declared that its Board of Directors has approved a stock repurchase program 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 stock through open market purchases. Stock repurchase programs are often an indication that the company's management believes its shares are undervalued.

Insider Buying and Selling

In related news, insider Julie Cooke sold 700 shares of the company's stock in a transaction on Monday, February 10th. The stock was sold at an average price of $118.28, for a total transaction of $82,796.00. Following the transaction, the insider now directly owns 18,831 shares of the company's stock, valued at approximately $2,227,330.68. The trade was a 3.58 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kevin Charles Gorman sold 2,274 shares of Neurocrine Biosciences stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $118.37, for a total value of $269,173.38. Following the sale, the director now owns 519,074 shares of the company's stock, valued at approximately $61,442,789.38. This represents a 0.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 43,907 shares of company stock valued at $4,935,982. Insiders own 4.80% of the company's stock.

Institutional Trading of Neurocrine Biosciences

A number of hedge funds and other institutional investors have recently made changes to their positions in NBIX. Golden State Wealth Management LLC acquired a new position in Neurocrine Biosciences during the fourth quarter worth approximately $25,000. 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 valued at $31,000 after purchasing an additional 97 shares during the period. Brooklyn Investment Group grew its holdings in Neurocrine Biosciences by 99.1% in the 4th quarter. Brooklyn Investment Group now owns 231 shares of the company's stock valued at $32,000 after buying an additional 115 shares in the last quarter. Smallwood Wealth Investment Management LLC bought a new position in Neurocrine Biosciences in the first quarter valued at approximately $34,000. Finally, GeoWealth Management LLC increased its holdings in Neurocrine Biosciences by 65.4% in the fourth quarter. GeoWealth Management LLC now owns 258 shares of the company's stock valued at $35,000 after purchasing an additional 102 shares during the period. 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.