The Goldman Sachs Group Begins Coverage on Neurocrine Biosciences (NASDAQ:NBIX)

The Goldman Sachs Group initiated coverage on shares of Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) in a research report issued to clients and investors on Thursday, Marketbeat reports. The firm set a "buy" rating and a $182.00 price target on the stock. The Goldman Sachs Group's target price indicates a potential upside of 36.32% from the company's previous close.

NBIX has been the topic of a number of other research reports. HC Wainwright reduced their price objective 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. 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 report on Tuesday, May 6th. JPMorgan Chase & Co. boosted their target price on Neurocrine Biosciences from $183.00 to $184.00 and gave the company an "overweight" rating in a research report on Wednesday, March 26th. Guggenheim boosted their target price on Neurocrine Biosciences from $155.00 to $165.00 and gave the company a "buy" rating in a research report on Tuesday, May 6th. Finally, Needham & Company LLC boosted their target price on Neurocrine Biosciences from $138.00 to $139.00 and gave the company a "buy" rating in a research report on Tuesday, May 6th. Three research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $163.91.

Neurocrine Biosciences Price Performance

NASDAQ:NBIX opened at $133.51 on Thursday. Neurocrine Biosciences has a 1 year low of $84.23 and a 1 year high of $157.98. The stock's 50 day simple moving average is $122.63 and its two-hundred day simple moving average is $121.58. The company has a market cap of $13.21 billion, a price-to-earnings ratio of 45.26, a PEG ratio of 1.32 and a beta of 0.24.

Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) last released its quarterly earnings data on Monday, May 5th. The company reported $0.08 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.70 by ($0.62). Neurocrine Biosciences had a return on equity of 11.81% and a net margin of 12.68%. The firm had revenue of $572.60 million during the quarter, compared to the consensus estimate of $587.06 million. During the same period in the previous year, the firm earned $1.20 EPS. The business's revenue was up 11.1% compared to the same quarter last year. As a group, analysts anticipate that Neurocrine Biosciences will post 4.28 EPS for the current year.

Insider Buying and Selling

In related news, Director Kevin Charles Gorman sold 9,613 shares of the company's stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $120.38, for a total transaction of $1,157,212.94. Following the completion of the sale, the director directly owned 514,596 shares in the company, valued at $61,947,066.48. This represents a 1.83% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Jude Onyia sold 20,362 shares of the company's stock in a transaction on Wednesday, July 2nd. The stock was sold at an average price of $130.13, for a total value of $2,649,707.06. Following the sale, the insider owned 18,289 shares of the company's stock, valued at $2,379,947.57. This trade represents a 52.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 59,975 shares of company stock worth $7,112,920 in the last three months. 4.80% of the stock is owned by insiders.

Institutional Investors Weigh In On Neurocrine Biosciences

Hedge funds have recently made changes to their positions in the stock. Geneos Wealth Management Inc. lifted its stake in shares of Neurocrine Biosciences by 143.6% during the 1st quarter. Geneos Wealth Management Inc. now owns 229 shares of the company's stock worth $25,000 after purchasing an additional 135 shares during the last quarter. Huntington National Bank raised its stake in Neurocrine Biosciences by 73.5% in the fourth quarter. Huntington National Bank now owns 229 shares of the company's stock valued at $31,000 after buying an additional 97 shares during the last quarter. WPG Advisers LLC purchased a new stake in Neurocrine Biosciences in the first quarter valued at about $32,000. Smallwood Wealth Investment Management LLC purchased a new stake in Neurocrine Biosciences in the first quarter valued at about $34,000. Finally, GeoWealth Management LLC raised its stake 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 buying an additional 102 shares during the last quarter. 92.59% of the stock is currently owned by hedge funds and other institutional investors.

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.

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