Neurocrine Biosciences (NASDAQ:NBIX) Stock Gets Price Target Increase from Morgan Stanley

Neurocrine Biosciences (NASDAQ:NBIX) had its target price lifted by equities researchers at Morgan Stanley from $185.00 to $191.00 in a research note issued on Friday, Benzinga reports. The firm presently has an “equal weight” rating on the stock. Morgan Stanley‘s target price indicates a potential upside of 14.10% from the company’s previous close.

NBIX has been the topic of several other research reports. Wells Fargo & Company upped their price objective on Neurocrine Biosciences from $175.00 to $200.00 and gave the company an “overweight” rating in a research note on Friday, July 17th. Mizuho raised Neurocrine Biosciences to a “hold” rating in a report on Wednesday, September 16th. TD Cowen increased their price target on Neurocrine Biosciences from $200.00 to $220.00 and gave the company a “buy” rating in a research note on Friday, July 31st. Cantor Fitzgerald raised their price target on Neurocrine Biosciences from $210.00 to $215.00 and gave the company an “overweight” rating in a report on Friday, July 31st. Finally, BMO Capital Markets cut their price target on Neurocrine Biosciences from $164.00 to $150.00 and set a “market perform” rating for the company in a report on Monday, October 12th. One analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $202.59.

Neurocrine Biosciences Stock Down 1.2%

Shares of NBIX stock traded down $2.00 on Friday, reaching $167.40. The stock had a trading volume of 1,380,843 shares, compared to its average volume of 1,432,286. Neurocrine Biosciences has a 12 month low of $122.14 and a 12 month high of $186.12. The firm has a market capitalization of $16.94 billion, a price-to-earnings ratio of 24.84, a P/E/G ratio of 0.69 and a beta of 0.36. The firm’s 50-day moving average is $148.58 and its two-hundred day moving average is $148.91.

Neurocrine Biosciences (NASDAQ:NBIX) last posted its quarterly earnings results on Monday, November 2nd. The company reported $3.29 EPS for the quarter, topping analysts’ consensus estimates of $1.91 by $1.38. The business had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.04 billion. Neurocrine Biosciences had a return on equity of 23.39% and a net margin of 18.98%. Neurocrine Biosciences’s quarterly revenue was up 41.3% on a year-over-year basis. During the same quarter last year, the company posted $2.04 earnings per share. On average, sell-side analysts forecast that Neurocrine Biosciences will post 8.41 earnings per share for the current fiscal year.

Insider Transactions at Neurocrine Biosciences

In related news, insider David W. Boyer sold 826 shares of the business’s stock in a transaction that occurred on Monday, September 14th. The stock was sold at an average price of $157.45, for a total value of $130,053.70. Following the completion of the sale, the insider directly owned 8,722 shares in the company, valued at approximately $1,373,278.90. The trade was a 8.65% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director George Morrow sold 7,500 shares of the stock in a transaction that occurred on Monday, November 2nd. The stock was sold at an average price of $145.79, for a total value of $1,093,425.00. Following the sale, the director directly owned 10,386 shares in the company, valued at $1,514,174.94. This represents a 41.93% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 18,137 shares of company stock valued at $2,829,332. 4.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Neurocrine Biosciences

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Parallel Advisors LLC increased its holdings in shares of Neurocrine Biosciences by 3.5% in the 3rd quarter. Parallel Advisors LLC now owns 1,780 shares of the company’s stock worth $252,000 after buying an additional 61 shares during the last quarter. NewEdge Advisors LLC raised its position in shares of Neurocrine Biosciences by 0.5% during the 1st quarter. NewEdge Advisors LLC now owns 13,066 shares of the company’s stock valued at $1,721,000 after buying an additional 68 shares in the last quarter. Entrust Financial LLC lifted its holdings in shares of Neurocrine Biosciences by 62.9% during the 3rd quarter. Entrust Financial LLC now owns 202 shares of the company’s stock worth $29,000 after acquiring an additional 78 shares during the last quarter. Keybank National Association OH lifted its holdings in shares of Neurocrine Biosciences by 4.7% during the 3rd quarter. Keybank National Association OH now owns 2,001 shares of the company’s stock worth $284,000 after acquiring an additional 89 shares during the last quarter. Finally, Westpac Banking Corp grew its position in Neurocrine Biosciences by 6.0% in the first quarter. Westpac Banking Corp now owns 1,615 shares of the company’s stock worth $213,000 after acquiring an additional 91 shares in the last quarter. 92.59% of the stock is owned by institutional investors and hedge funds.

About Neurocrine Biosciences

Neurocrine Biosciences is a biopharmaceutical company focused on developing and commercializing treatments for neurological, endocrine and related disorders. Founded in 1992 and headquartered in San Diego, California, the company conducts research and development alongside its commercial operations. Its marketed medicines include INGREZZA (valbenazine), approved in the United States for tardive dyskinesia and chorea associated with Huntington disease, and CRENESSITY (crinecerfont), used with glucocorticoid replacement therapy to treat classic congenital adrenal hyperplasia in adults and children.