Neurocrine Biosciences (NASDAQ:NBIX) Price Target Raised to $180.00

Neurocrine Biosciences (NASDAQ:NBIX) had its price objective boosted by equities research analysts at Royal Bank Of Canada from $160.00 to $180.00 in a report issued on Monday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Royal Bank Of Canada’s target price points to a potential upside of 13.05% from the company’s current price.

NBIX has been the subject of a number of other research reports. Citigroup upped their price objective on shares of Neurocrine Biosciences from $175.00 to $203.00 and gave the company a “buy” rating in a research note on Wednesday, October 29th. Wedbush reissued an “outperform” rating on shares of Neurocrine Biosciences in a research note on Monday, September 22nd. UBS Group raised their price objective on Neurocrine Biosciences from $188.00 to $195.00 and gave the company a “buy” rating in a research note on Thursday, October 9th. Morgan Stanley lowered their target price on Neurocrine Biosciences from $178.00 to $173.00 and set an “overweight” rating for the company in a research note on Tuesday, November 11th. Finally, Stifel Nicolaus raised their price target on Neurocrine Biosciences from $174.00 to $183.00 and gave the stock a “buy” rating in a research report on Wednesday, October 29th. One research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $173.00.

Neurocrine Biosciences Trading Up 2.4%

Shares of NBIX traded up $3.71 during midday trading on Monday, reaching $159.22. The stock had a trading volume of 111,956 shares, compared to its average volume of 1,149,735. The company has a market capitalization of $15.88 billion, a price-to-earnings ratio of 37.94, a price-to-earnings-growth ratio of 1.02 and a beta of 0.27. The company’s 50-day moving average is $143.72 and its 200 day moving average is $136.15. Neurocrine Biosciences has a 12-month low of $84.23 and a 12-month high of $159.00.

Neurocrine Biosciences (NASDAQ:NBIX) last released 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. The company had revenue of $794.90 million during the quarter, compared to the consensus estimate of $746.61 million. Neurocrine Biosciences had a return on equity of 15.82% and a net margin of 15.95%.Neurocrine Biosciences’s quarterly revenue was up 27.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.81 EPS. Research analysts forecast that Neurocrine Biosciences will post 4.28 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director George J. Morrow sold 15,000 shares of the firm’s stock in a transaction dated Tuesday, November 25th. The shares were sold at an average price of $143.37, for a total value of $2,150,550.00. Following the completion of the sale, the director directly owned 7,068 shares of the company’s stock, valued at approximately $1,013,339.16. This trade represents a 67.97% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director William H. Rastetter sold 18,000 shares of the stock in a transaction dated Wednesday, November 5th. The stock was sold at an average price of $151.82, for a total transaction of $2,732,760.00. Following the completion of the transaction, the director directly owned 40,360 shares of the company’s stock, valued at approximately $6,127,455.20. The trade was a 30.84% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 33,300 shares of company stock worth $4,925,901. 4.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Neurocrine Biosciences

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NBIX. Dodge & Cox raised its holdings in Neurocrine Biosciences by 83.5% in the first quarter. Dodge & Cox now owns 5,534,624 shares of the company’s stock worth $612,129,000 after purchasing an additional 2,518,199 shares in the last quarter. JPMorgan Chase & Co. grew its position in shares of Neurocrine Biosciences by 59.6% in the 2nd quarter. JPMorgan Chase & Co. now owns 4,261,747 shares of the company’s stock worth $535,659,000 after buying an additional 1,590,749 shares during the period. AQR Capital Management LLC grew its position in shares of Neurocrine Biosciences by 83.7% in the 3rd quarter. AQR Capital Management LLC now owns 2,773,648 shares of the company’s stock worth $388,435,000 after buying an additional 1,263,633 shares during the period. Norges Bank bought a new position in shares of Neurocrine Biosciences in the 2nd quarter worth about $122,278,000. Finally, Los Angeles Capital Management LLC lifted its position in Neurocrine Biosciences by 19,454.9% during the 2nd quarter. Los Angeles Capital Management LLC now owns 744,650 shares of the company’s stock valued at $93,595,000 after acquiring an additional 740,842 shares during the period. 92.59% of the stock is owned by hedge funds and other 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.