Neurocrine Biosciences (NASDAQ:NBIX) Price Target Raised to $164.00 at Canaccord Genuity Group

Neurocrine Biosciences (NASDAQ:NBIX) had its target price lifted by Canaccord Genuity Group from $154.00 to $164.00 in a research note released on Thursday, Benzinga reports. They currently have a buy rating on the stock.

Other research analysts have also issued reports about the stock. BMO Capital Markets boosted their price target on shares of Neurocrine Biosciences from $129.00 to $138.00 and gave the stock a market perform rating in a research note on Thursday. Citigroup dropped their target price on Neurocrine Biosciences from $141.00 to $140.00 and set a neutral rating on the stock in a research report on Thursday, February 8th. Cantor Fitzgerald reissued an overweight rating and issued a $155.00 price target on shares of Neurocrine Biosciences in a report on Wednesday, April 10th. Guggenheim lifted their price target on Neurocrine Biosciences from $164.00 to $170.00 and gave the company a buy rating in a research note on Thursday. Finally, Oppenheimer increased their price objective on Neurocrine Biosciences from $200.00 to $216.00 and gave the stock an outperform rating in a research report on Thursday. Six investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of Moderate Buy and a consensus target price of $147.88.

Neurocrine Biosciences Price Performance

Shares of NBIX stock traded up $0.88 during midday trading on Thursday, hitting $140.71. The company had a trading volume of 616,567 shares, compared to its average volume of 795,508. Neurocrine Biosciences has a 52-week low of $89.04 and a 52-week high of $148.37. The company’s 50 day simple moving average is $137.37 and its 200 day simple moving average is $128.78. The stock has a market cap of $14.16 billion, a price-to-earnings ratio of 38.76 and a beta of 0.28.

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

Insider Activity at Neurocrine Biosciences

In other Neurocrine Biosciences news, CEO Kevin Charles Gorman sold 3,040 shares of the business’s stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $142.18, for a total value of $432,227.20. Following the completion of the transaction, 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Neurocrine Biosciences news, CEO Kevin Charles Gorman sold 3,040 shares of the firm’s stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $142.18, for a total value of $432,227.20. Following the sale, the chief executive officer now directly owns 504,919 shares of the company’s stock, valued at approximately $71,789,383.42. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider David W. Boyer sold 1,328 shares of the company’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $135.41, for a total transaction of $179,824.48. Following the transaction, the insider now directly owns 4,895 shares of the company’s stock, valued at approximately $662,831.95. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 181,547 shares of company stock valued at $25,039,887. Company insiders own 4.30% of the company’s stock.

Institutional Inflows and Outflows

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