Guggenheim Boosts Neurocrine Biosciences (NASDAQ:NBIX) Price Target to $170.00

Neurocrine Biosciences (NASDAQ:NBIX) had its target price upped by Guggenheim from $164.00 to $170.00 in a report published on Thursday, Benzinga reports. They currently have a buy rating on the stock.

A number of other research firms also recently commented on NBIX. Citigroup decreased their price target on Neurocrine Biosciences from $141.00 to $140.00 and set a neutral rating for the company in a research note on Thursday, February 8th. Wedbush reissued an outperform rating and set a $147.00 price target on shares of Neurocrine Biosciences in a research report on Wednesday, April 17th. Needham & Company LLC reaffirmed a hold rating on shares of Neurocrine Biosciences in a report on Wednesday. The Goldman Sachs Group increased their target price on shares of Neurocrine Biosciences from $134.00 to $153.00 and gave the stock a buy rating in a report on Thursday, January 25th. Finally, Wells Fargo & Company raised shares of Neurocrine Biosciences from an equal weight rating to an overweight rating and lifted their price target for the company from $140.00 to $170.00 in a report on Wednesday, April 24th. Six equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus target price of $147.88.

Neurocrine Biosciences Stock Up 0.6 %

Shares of Neurocrine Biosciences stock traded up $0.88 during trading hours on Thursday, hitting $140.71. 616,567 shares of the company’s stock traded hands, compared to its average volume of 795,508. The stock has a 50 day simple moving average of $137.37 and a 200-day simple moving average of $128.78. Neurocrine Biosciences has a twelve month low of $89.04 and a twelve month high of $148.37. The company has a market cap of $14.16 billion, a PE ratio of 38.76 and a beta of 0.28.

Neurocrine Biosciences (NASDAQ:NBIX) last released its quarterly earnings results on Wednesday, February 7th. The company reported $1.44 earnings per share for the quarter, topping analysts’ consensus estimates of $1.13 by $0.31. The business had revenue of $515.20 million during the quarter, compared to the consensus estimate of $518.52 million. Neurocrine Biosciences had a net margin of 18.65% and a return on equity of 17.45%. The business’s quarterly revenue was up 25.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.88 earnings per share. As a group, equities research analysts predict that Neurocrine Biosciences will post 4.79 EPS for the current year.

Insiders Place Their Bets

In other Neurocrine Biosciences news, insider Eric Benevich sold 75,000 shares of the firm’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $139.38, for a total value of $10,453,500.00. Following the completion of the transaction, the insider now directly owns 40,778 shares in the company, valued at $5,683,637.64. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other Neurocrine Biosciences news, insider David W. Boyer sold 456 shares of Neurocrine Biosciences stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $141.96, for a total transaction of $64,733.76. Following the transaction, the insider now owns 4,894 shares of the company’s stock, valued at approximately $694,752.24. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Eric Benevich sold 75,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $139.38, for a total transaction of $10,453,500.00. Following the sale, the insider now owns 40,778 shares of the company’s stock, valued at $5,683,637.64. The disclosure for this sale can be found here. In the last quarter, insiders have sold 181,547 shares of company stock worth $25,039,887. Company insiders own 4.30% of the company’s stock.

Institutional Investors Weigh In On Neurocrine Biosciences

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NBIX. Mather Group LLC. acquired a new position in shares of Neurocrine Biosciences in the first quarter worth $26,000. Lindbrook Capital LLC grew its stake in Neurocrine Biosciences by 85.0% in the fourth quarter. Lindbrook Capital LLC now owns 209 shares of the company’s stock valued at $28,000 after purchasing an additional 96 shares in the last quarter. EdgeRock Capital LLC acquired a new position in Neurocrine Biosciences in the 4th quarter worth about $31,000. Benjamin F. Edwards & Company Inc. purchased a new stake in shares of Neurocrine Biosciences during the 4th quarter worth about $33,000. Finally, Headinvest LLC acquired a new stake in shares of Neurocrine Biosciences during the 3rd quarter valued at about $28,000. Hedge funds and other institutional investors own 92.59% of the company’s stock.

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.