Neurocrine Biosciences (NASDAQ:NBIX) Price Target Raised to $174.00

Key Points

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Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) had its price target increased by analysts at Stifel Nicolaus from $166.00 to $174.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has a "buy" rating on the stock. Stifel Nicolaus' target price would indicate a potential upside of 34.98% from the company's current price.

Several other analysts have also recently issued reports on NBIX. HC Wainwright cut their target price on Neurocrine Biosciences from $185.00 to $168.00 and set a "buy" rating on the stock in a research note on Tuesday, April 22nd. Evercore ISI cut their target price on Neurocrine Biosciences from $190.00 to $185.00 and set an "outperform" rating on the stock in a research note on Thursday, April 24th. Piper Sandler raised their target price on Neurocrine Biosciences from $154.00 to $175.00 and gave the stock an "overweight" rating in a research note on Thursday. Needham & Company LLC raised their target price on Neurocrine Biosciences from $138.00 to $139.00 and gave the stock a "buy" rating in a research note on Tuesday, May 6th. Finally, Morgan Stanley raised their target price on Neurocrine Biosciences from $148.00 to $150.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 22nd. Three equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $160.90.

Neurocrine Biosciences Trading Up 0.5%

Shares of NASDAQ:NBIX traded up $0.68 on Thursday, reaching $128.91. 1,395,006 shares of the company traded hands, compared to its average volume of 901,206. The business's 50-day simple moving average is $128.26 and its 200 day simple moving average is $120.88. Neurocrine Biosciences has a 52 week low of $84.23 and a 52 week high of $157.40. The stock has a market capitalization of $12.79 billion, a P/E ratio of 38.14, a price-to-earnings-growth ratio of 1.32 and a beta of 0.25.

Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) last posted its earnings results on Wednesday, July 30th. The company reported $1.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.98 by $0.08. The company had revenue of $687.50 million for the quarter, compared to analysts' expectations of $653.09 million. Neurocrine Biosciences had a return on equity of 13.22% and a net margin of 13.88%. Neurocrine Biosciences's quarterly revenue was up 16.5% on a year-over-year basis. During the same period last year, the firm earned $1.63 earnings per share. Sell-side analysts expect that Neurocrine Biosciences will post 4.28 EPS for the current fiscal year.

Insider Activity

In related news, insider Jude Onyia sold 59,819 shares of the firm's stock in a transaction that occurred on Wednesday, July 9th. The shares were sold at an average price of $130.46, for a total transaction of $7,803,986.74. Following the completion of the sale, the insider owned 18,289 shares of the company's stock, valued at $2,385,982.94. This trade represents a 76.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director William H. Rastetter sold 30,000 shares of the firm's stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $110.20, for a total transaction of $3,306,000.00. Following the sale, the director directly owned 37,491 shares of the company's stock, valued at $4,131,508.20. This trade represents a 44.45% decrease in their position. The disclosure for this sale can be found here. Insiders sold 120,251 shares of company stock worth $14,978,602 over the last three months. 4.80% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Neurocrine Biosciences

Several institutional investors and hedge funds have recently made changes to their positions in NBIX. Dodge & Cox grew its position in Neurocrine Biosciences by 83.5% in the 1st quarter. Dodge & Cox now owns 5,534,624 shares of the company's stock worth $612,129,000 after purchasing an additional 2,518,199 shares during the period. Wellington Management Group LLP raised its stake in Neurocrine Biosciences by 44.0% during the 1st quarter. Wellington Management Group LLP now owns 2,097,981 shares of the company's stock valued at $232,037,000 after buying an additional 640,556 shares during the last quarter. AQR Capital Management LLC raised its stake in Neurocrine Biosciences by 2.9% during the 4th quarter. AQR Capital Management LLC now owns 1,896,891 shares of the company's stock valued at $258,926,000 after buying an additional 53,610 shares during the last quarter. Geode Capital Management LLC raised its stake in Neurocrine Biosciences by 0.9% during the 4th quarter. Geode Capital Management LLC now owns 1,875,062 shares of the company's stock valued at $255,523,000 after buying an additional 15,830 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD raised its stake in Neurocrine Biosciences by 3.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,539,601 shares of the company's stock valued at $170,281,000 after buying an additional 49,088 shares during the last quarter. Institutional investors own 92.59% of the company's stock.

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.