Neurocrine Biosciences (NASDAQ:NBIX) Price Target Increased to $160.00 by Analysts at HC Wainwright

Neurocrine Biosciences (NASDAQ:NBIX) had its price objective hoisted by HC Wainwright from $150.00 to $160.00 in a report released on Thursday morning, Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other analysts also recently commented on the stock. Citigroup dropped their target price on shares of Neurocrine Biosciences from $141.00 to $140.00 and set a neutral rating on the stock in a report on Thursday, February 8th. Mizuho boosted their target price on Neurocrine Biosciences from $116.00 to $140.00 and gave the stock a neutral rating in a research report on Thursday, February 8th. JPMorgan Chase & Co. boosted their target price on shares of Neurocrine Biosciences from $148.00 to $158.00 and gave the company an overweight rating in a research note on Wednesday, March 20th. Wedbush restated an outperform rating and set a $147.00 price target on shares of Neurocrine Biosciences in a report on Wednesday, April 17th. Finally, Wells Fargo & Company upgraded shares of Neurocrine Biosciences from an equal weight rating to an overweight rating and upped their price objective for the company from $140.00 to $170.00 in a research note on Wednesday, April 24th. Six equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Neurocrine Biosciences has a consensus rating of Moderate Buy and an average price target of $147.88.

Neurocrine Biosciences Stock Up 0.6 %

NBIX traded up $0.88 during trading on Thursday, reaching $140.71. The stock had a trading volume of 616,567 shares, compared to its average volume of 795,508. The stock has a 50 day moving average of $137.37 and a two-hundred day moving average of $128.78. The firm has a market capitalization of $14.16 billion, a price-to-earnings ratio of 38.76 and a beta of 0.28. Neurocrine Biosciences has a 1-year low of $89.04 and a 1-year high of $148.37.

Neurocrine Biosciences (NASDAQ:NBIX) last announced its quarterly earnings data on Wednesday, February 7th. The company reported $1.44 earnings per share for the quarter, beating the consensus estimate of $1.13 by $0.31. The business had revenue of $515.20 million during the quarter, compared to analyst estimates of $518.52 million. Neurocrine Biosciences had a return on equity of 17.45% and a net margin of 18.65%. The company’s revenue was up 25.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.88 earnings per share. On average, research analysts forecast that Neurocrine Biosciences will post 4.79 EPS for the current fiscal year.

Insider Activity

In other news, CEO Kevin Charles Gorman sold 3,040 shares of Neurocrine Biosciences stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $142.18, for a total transaction of $432,227.20. Following the sale, the chief executive officer now directly owns 504,919 shares in the company, valued at approximately $71,789,383.42. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Neurocrine Biosciences news, Director Richard F. Pops sold 15,000 shares of Neurocrine Biosciences stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $132.47, for a total transaction of $1,987,050.00. Following the completion of the transaction, the director now directly owns 29,512 shares of the company’s stock, valued at $3,909,454.64. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Kevin Charles Gorman sold 3,040 shares of the company’s stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $142.18, for a total transaction of $432,227.20. Following the completion of the sale, the chief executive officer now directly owns 504,919 shares in the company, valued at approximately $71,789,383.42. The disclosure for this sale can be found here. In the last 90 days, insiders sold 181,547 shares of company stock worth $25,039,887. 4.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Neurocrine Biosciences

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Asset Management One Co. Ltd. grew its position in Neurocrine Biosciences by 0.5% during the 3rd quarter. Asset Management One Co. Ltd. now owns 38,662 shares of the company’s stock worth $4,349,000 after acquiring an additional 207 shares during the last quarter. FinTrust Capital Advisors LLC grew its holdings in shares of Neurocrine Biosciences by 34.3% during the third quarter. FinTrust Capital Advisors LLC now owns 2,015 shares of the company’s stock worth $227,000 after purchasing an additional 515 shares during the last quarter. Forsta AP Fonden acquired a new stake in shares of Neurocrine Biosciences in the third quarter valued at $2,048,000. New York State Teachers Retirement System raised its holdings in shares of Neurocrine Biosciences by 0.8% in the third quarter. New York State Teachers Retirement System now owns 96,989 shares of the company’s stock valued at $10,911,000 after buying an additional 740 shares during the last quarter. Finally, BluePath Capital Management LLC acquired a new position in Neurocrine Biosciences during the 3rd quarter worth about $35,000. 92.59% of the stock is currently owned by institutional investors and hedge funds.

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.