Neurocrine Biosciences (NASDAQ:NBIX) Given New $138.00 Price Target at BMO Capital Markets

Neurocrine Biosciences (NASDAQ:NBIX) had its price objective increased by BMO Capital Markets from $129.00 to $138.00 in a research report released on Thursday morning, Benzinga reports. The brokerage currently has a market perform rating on the stock.

Other equities research analysts also recently issued reports about the stock. Citigroup lowered their target price on shares of Neurocrine Biosciences from $141.00 to $140.00 and set a neutral rating for the company in a report on Thursday, February 8th. Needham & Company LLC reiterated a hold rating on shares of Neurocrine Biosciences in a report on Wednesday. Wedbush restated an outperform rating and set a $147.00 price objective on shares of Neurocrine Biosciences in a report on Wednesday, April 17th. Wells Fargo & Company upgraded Neurocrine Biosciences from an equal weight rating to an overweight rating and lifted their target price for the company from $140.00 to $170.00 in a report on Wednesday, April 24th. Finally, JPMorgan Chase & Co. boosted their price target on Neurocrine Biosciences from $148.00 to $158.00 and gave the company an overweight rating in a research report on Wednesday, March 20th. Six equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of Moderate Buy and a consensus price target of $147.88.

Neurocrine Biosciences Price Performance

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

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

Insider Activity at Neurocrine Biosciences

In other news, insider David W. Boyer sold 456 shares of the firm’s stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $141.96, for a total transaction of $64,733.76. Following the completion of the sale, the insider now owns 4,894 shares of the company’s stock, valued at $694,752.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider David W. Boyer sold 456 shares of the stock in a transaction dated Tuesday, February 6th. The shares were 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 $694,752.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Ingrid Delaet sold 5,000 shares of Neurocrine Biosciences stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $145.06, for a total value of $725,300.00. Following the completion of the transaction, the insider now owns 7,507 shares of the company’s stock, valued at $1,088,965.42. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 181,547 shares of company stock valued at $25,039,887. Insiders own 4.30% of the company’s stock.

Hedge Funds Weigh In On Neurocrine Biosciences

Several large investors have recently added to or reduced their stakes in the company. Mather Group LLC. bought a new position in Neurocrine Biosciences in the first quarter worth about $26,000. Lindbrook Capital LLC raised its position in shares of Neurocrine Biosciences by 85.0% during the 4th quarter. Lindbrook Capital LLC now owns 209 shares of the company’s stock worth $28,000 after purchasing an additional 96 shares during the period. EdgeRock Capital LLC bought a new stake in shares of Neurocrine Biosciences in the 4th quarter worth approximately $31,000. Benjamin F. Edwards & Company Inc. acquired a new position in Neurocrine Biosciences during the 4th quarter valued at approximately $33,000. Finally, Headinvest LLC bought a new position in Neurocrine Biosciences during the 3rd quarter worth $28,000. 92.59% of the stock is currently owned by 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.