TD Cowen Boosts Neurocrine Biosciences (NASDAQ:NBIX) Price Target to $200.00

Neurocrine Biosciences (NASDAQ:NBIX) had its price target lifted by equities researchers at TD Cowen from $175.00 to $200.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. TD Cowen’s price target would suggest a potential upside of 28.42% from the company’s previous close.

Several other analysts have also issued reports on the stock. Truist Financial reiterated a “buy” rating and set a $172.00 price target (up previously from $165.00) on shares of Neurocrine Biosciences in a research report on Thursday, October 30th. Citigroup upped their target price on Neurocrine Biosciences from $175.00 to $203.00 and gave the stock a “buy” rating in a research note on Wednesday, October 29th. Needham & Company LLC lifted their price target on Neurocrine Biosciences from $170.00 to $184.00 and gave the company a “buy” rating in a research note on Wednesday, October 29th. Stifel Nicolaus upped their price objective on Neurocrine Biosciences from $174.00 to $183.00 and gave the stock a “buy” rating in a research report on Wednesday, October 29th. Finally, Royal Bank Of Canada lifted their target price on Neurocrine Biosciences from $156.00 to $160.00 and gave the company an “outperform” rating in a research report on Wednesday, October 29th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $172.00.

Neurocrine Biosciences Price Performance

NBIX stock traded up $1.52 during midday trading on Friday, reaching $155.74. 438,757 shares of the company were exchanged, compared to its average volume of 1,152,463. Neurocrine Biosciences has a one year low of $84.23 and a one year high of $157.67. The firm has a market capitalization of $15.53 billion, a price-to-earnings ratio of 37.26, a price-to-earnings-growth ratio of 1.02 and a beta of 0.27. The business has a 50-day moving average price of $143.45 and a two-hundred day moving average price of $135.73.

Neurocrine Biosciences (NASDAQ:NBIX) last announced its earnings results on Tuesday, October 28th. The company reported $2.17 earnings per share for the quarter, topping analysts’ consensus estimates of $1.58 by $0.59. Neurocrine Biosciences had a return on equity of 15.82% and a net margin of 15.95%.The company had revenue of $794.90 million for the quarter, compared to analyst estimates of $746.61 million. During the same quarter last year, the company earned $1.81 earnings per share. The firm’s quarterly revenue was up 27.8% compared to the same quarter last year. As a group, analysts anticipate that Neurocrine Biosciences will post 4.28 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Neurocrine Biosciences news, Director George J. Morrow sold 15,000 shares of the business’s stock in a transaction dated Tuesday, November 25th. The shares were sold at an average price of $143.37, for a total transaction of $2,150,550.00. Following the completion of the transaction, the director directly owned 7,068 shares of the company’s stock, valued at $1,013,339.16. The trade was a 67.97% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Kyle Gano sold 300 shares of the firm’s stock in a transaction dated Tuesday, November 4th. The shares were sold at an average price of $141.97, for a total transaction of $42,591.00. Following the transaction, the chief executive officer directly owned 140,407 shares in the company, valued at approximately $19,933,581.79. The trade was a 0.21% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 33,300 shares of company stock worth $4,925,901 over the last quarter. 4.80% of the stock is owned by company insiders.

Institutional Trading of Neurocrine Biosciences

Several large investors have recently modified their holdings of NBIX. Geneos Wealth Management Inc. grew its position in shares of Neurocrine Biosciences by 143.6% in the first quarter. Geneos Wealth Management Inc. now owns 229 shares of the company’s stock valued at $25,000 after purchasing an additional 135 shares during the last quarter. Golden State Wealth Management LLC increased its holdings in shares of Neurocrine Biosciences by 120.5% during the 3rd quarter. Golden State Wealth Management LLC now owns 183 shares of the company’s stock worth $26,000 after purchasing an additional 100 shares during the period. Eastern Bank acquired a new position in shares of Neurocrine Biosciences during the third quarter valued at about $27,000. WPG Advisers LLC bought a new stake in shares of Neurocrine Biosciences in the first quarter valued at about $32,000. Finally, Quent Capital LLC bought a new stake in shares of Neurocrine Biosciences in the third quarter valued at about $32,000. 92.59% of the stock is owned by institutional investors.

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.