Neurocrine Biosciences (NASDAQ:NBIX) Given New $185.00 Price Target at Morgan Stanley

Neurocrine Biosciences (NASDAQ:NBIX) had its price objective hoisted by Morgan Stanley from $173.00 to $185.00 in a report released on Friday,Benzinga reports. The firm currently has an equal weight rating on the stock.

Other equities research analysts have also recently issued reports about the company. Citigroup increased their target price on Neurocrine Biosciences from $204.00 to $242.00 and gave the stock a “buy” rating in a research note on Tuesday. JPMorgan Chase & Co. increased their target price on Neurocrine Biosciences from $176.00 to $177.00 and gave the stock an “overweight” rating in a research note on Thursday, March 12th. Mizuho increased their target price on Neurocrine Biosciences from $146.00 to $175.00 and gave the stock a “neutral” rating in a research note on Friday, December 12th. BMO Capital Markets cut their target price on Neurocrine Biosciences from $147.00 to $140.00 and set a “market perform” rating on the stock in a research note on Thursday, February 12th. Finally, Stifel Nicolaus increased their target price on Neurocrine Biosciences from $183.00 to $188.00 and gave the stock a “buy” rating in a research note on Thursday, December 11th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $181.20.

Neurocrine Biosciences Trading Down 2.1%

NBIX opened at $128.89 on Friday. The stock has a fifty day simple moving average of $131.16 and a two-hundred day simple moving average of $138.69. The company has a market cap of $12.94 billion, a price-to-earnings ratio of 27.66, a price-to-earnings-growth ratio of 0.68 and a beta of 0.35. Neurocrine Biosciences has a 12-month low of $88.35 and a 12-month high of $160.18.

Neurocrine Biosciences (NASDAQ:NBIX) last released its earnings results on Wednesday, February 11th. The company reported $1.88 EPS for the quarter, missing analysts’ consensus estimates of $2.36 by ($0.48). Neurocrine Biosciences had a return on equity of 16.48% and a net margin of 16.73%.The company had revenue of $805.50 million during the quarter, compared to analysts’ expectations of $804.21 million. During the same period in the prior year, the company posted $1.69 earnings per share. The company’s revenue was up 28.3% on a year-over-year basis. On average, analysts predict that Neurocrine Biosciences will post 4.28 EPS for the current year.

Insider Activity at Neurocrine Biosciences

In related news, CEO Kyle Gano sold 36,400 shares of the stock in a transaction on Friday, January 16th. The stock was sold at an average price of $132.70, for a total transaction of $4,830,280.00. Following the sale, the chief executive officer directly owned 140,407 shares of the company’s stock, valued at $18,632,008.90. This trade represents a 20.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 4.80% of the stock is owned by company insiders.

Institutional Investors Weigh In On Neurocrine Biosciences

Several institutional investors have recently modified their holdings of NBIX. USA Financial Formulas purchased a new stake in shares of Neurocrine Biosciences during the fourth quarter valued at $25,000. Geneos Wealth Management Inc. boosted its position in shares of Neurocrine Biosciences by 143.6% during the first quarter. Geneos Wealth Management Inc. now owns 229 shares of the company’s stock valued at $25,000 after buying an additional 135 shares during the last quarter. Golden State Wealth Management LLC boosted its position in shares of Neurocrine Biosciences by 120.5% during the third quarter. Golden State Wealth Management LLC now owns 183 shares of the company’s stock valued at $26,000 after buying an additional 100 shares during the last quarter. Eastern Bank purchased a new stake in shares of Neurocrine Biosciences during the third quarter valued at $27,000. Finally, DJE Kapital AG purchased a new stake in shares of Neurocrine Biosciences during the fourth quarter valued at $28,000. 92.59% of the stock is owned by hedge funds and other institutional investors.

About Neurocrine Biosciences

Neurocrine Biosciences (NASDAQ: NBIX) is a biopharmaceutical company based in San Diego, California, focused on developing treatments for neurological, endocrine and neuropsychiatric disorders. Since its founding in 1992, the company has pursued a research‐driven strategy aimed at addressing unmet medical needs in movement disorders, reproductive health and central nervous system conditions. Neurocrine’s operations encompass drug discovery, clinical development and commercialization activities.

The company’s lead marketed product, Ingrezza™ (valbenazine), is indicated for the treatment of tardive dyskinesia, a movement disorder associated with long-term antipsychotic use.