Neurocrine Biosciences (NASDAQ:NBIX) Price Target Raised to $179.00

Neurocrine Biosciences (NASDAQ:NBIX) had its price objective hoisted by research analysts at JPMorgan Chase & Co. from $171.00 to $179.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price would indicate a potential upside of 28.18% from the company’s previous close.

A number of other research firms have also weighed in on NBIX. Morgan Stanley lifted their price objective on shares of Neurocrine Biosciences from $163.00 to $168.00 and gave the company an “overweight” rating in a research note on Monday, October 20th. Wedbush restated an “outperform” rating on shares of Neurocrine Biosciences in a research report on Monday, September 22nd. Royal Bank Of Canada boosted their price target on shares of Neurocrine Biosciences from $156.00 to $160.00 and gave the company an “outperform” rating in a research report on Wednesday, October 29th. Weiss Ratings restated a “hold (c+)” rating on shares of Neurocrine Biosciences in a research report on Wednesday, October 8th. Finally, Guggenheim boosted their price target on shares of Neurocrine Biosciences from $165.00 to $175.00 and gave the company a “buy” rating in a research report on Friday, August 1st. One investment analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $170.26.

Neurocrine Biosciences Trading Down 2.5%

Shares of NASDAQ:NBIX traded down $3.56 during mid-day trading on Monday, reaching $139.65. The company had a trading volume of 104,540 shares, compared to its average volume of 1,163,391. The firm has a market cap of $13.92 billion, a price-to-earnings ratio of 33.45, a PEG ratio of 0.94 and a beta of 0.21. The company’s 50-day moving average price is $140.85 and its 200-day moving average price is $129.96. Neurocrine Biosciences has a one year low of $84.23 and a one year high of $154.61.

Neurocrine Biosciences (NASDAQ:NBIX) last posted its quarterly earnings results on Tuesday, October 28th. The company reported $2.04 EPS for the quarter, topping analysts’ consensus estimates of $1.58 by $0.46. Neurocrine Biosciences had a net margin of 15.95% and a return on equity of 15.82%. The company had revenue of $794.90 million for the quarter, compared to analysts’ expectations of $746.61 million. During the same quarter in the previous year, the firm posted $1.81 EPS. Neurocrine Biosciences’s revenue was up 27.8% on a year-over-year basis. On average, research analysts anticipate that Neurocrine Biosciences will post 4.28 EPS for the current fiscal year.

Insider Activity

In related news, Director Kevin Charles Gorman sold 106,322 shares of the business’s stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $126.41, for a total transaction of $13,440,164.02. Following the transaction, the director owned 514,596 shares in the company, valued at $65,050,080.36. The trade was a 17.12% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 4.80% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Neurocrine Biosciences

Institutional investors have recently made changes to their positions in the company. Y Intercept Hong Kong Ltd bought a new position in Neurocrine Biosciences in the first quarter worth approximately $1,460,000. Financiere des Professionnels Fonds d investissement inc. bought a new stake in shares of Neurocrine Biosciences during the 2nd quarter valued at $696,000. Wealth Enhancement Advisory Services LLC raised its position in shares of Neurocrine Biosciences by 229.1% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 19,107 shares of the company’s stock valued at $2,467,000 after purchasing an additional 13,301 shares during the period. Sequoia Financial Advisors LLC bought a new stake in shares of Neurocrine Biosciences during the 2nd quarter valued at $342,000. Finally, Integrated Wealth Concepts LLC raised its position in shares of Neurocrine Biosciences by 167.2% during the 1st quarter. Integrated Wealth Concepts LLC now owns 7,233 shares of the company’s stock valued at $800,000 after purchasing an additional 4,526 shares during the period. Hedge funds and other institutional investors 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.