Neurocrine Biosciences, Inc. (NASDAQ:NBIX) Receives $139.25 Average Price Target from Brokerages

Shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) have earned an average recommendation of “Moderate Buy” from the twenty-two ratings firms that are covering the company, MarketBeat reports. Six analysts have rated the stock with a hold recommendation and sixteen have issued a buy recommendation on the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $139.67.

Several analysts recently commented on NBIX shares. Citigroup dropped their price target on Neurocrine Biosciences from $141.00 to $140.00 and set a “neutral” rating for the company in a research report on Thursday, February 8th. Cantor Fitzgerald reissued an “overweight” rating and issued a $155.00 price target on shares of Neurocrine Biosciences in a research note on Wednesday, April 10th. Wells Fargo & Company increased their price objective on shares of Neurocrine Biosciences from $127.00 to $140.00 and gave the company an “equal weight” rating in a report on Thursday, February 8th. The Goldman Sachs Group raised their target price on shares of Neurocrine Biosciences from $134.00 to $153.00 and gave the stock a “buy” rating in a research note on Thursday, January 25th. Finally, Mizuho upped their price target on Neurocrine Biosciences from $116.00 to $140.00 and gave the company a “neutral” rating in a research report on Thursday, February 8th.

Neurocrine Biosciences Stock Performance

Neurocrine Biosciences stock opened at $133.23 on Monday. The company’s fifty day moving average price is $136.19 and its 200 day moving average price is $126.81. The stock has a market capitalization of $13.26 billion, a P/E ratio of 55.05 and a beta of 0.25. Neurocrine Biosciences has a 1 year low of $89.04 and a 1 year high of $148.37.

Neurocrine Biosciences (NASDAQ:NBIX) last released its earnings results on Wednesday, February 7th. The company reported $1.44 EPS for the quarter, topping analysts’ consensus estimates of $1.13 by $0.31. The business had revenue of $515.20 million during the quarter, compared to analysts’ expectations of $518.52 million. Neurocrine Biosciences had a net margin of 13.23% and a return on equity of 12.85%. During the same quarter in the previous year, the company earned $0.88 earnings per share. The company’s quarterly revenue was up 25.0% on a year-over-year basis. Sell-side analysts predict that Neurocrine Biosciences will post 4.84 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Kevin Charles Gorman sold 2,707 shares of the business’s stock in a transaction dated Wednesday, January 31st. The stock was sold at an average price of $140.69, for a total value of $380,847.83. Following the completion of the sale, the chief executive officer now directly owns 502,188 shares of the company’s stock, valued at approximately $70,652,829.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Kevin Charles Gorman sold 2,707 shares of Neurocrine Biosciences stock in a transaction on Wednesday, January 31st. The shares were sold at an average price of $140.69, for a total value of $380,847.83. Following the transaction, the chief executive officer now directly owns 502,188 shares of the company’s stock, valued at approximately $70,652,829.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Darin Lippoldt sold 10,000 shares of the stock in a transaction on Monday, January 22nd. The stock was sold at an average price of $139.86, for a total transaction of $1,398,600.00. Following the sale, the insider now owns 35,882 shares of the company’s stock, valued at approximately $5,018,456.52. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 196,994 shares of company stock valued at $27,205,009. 4.60% of the stock is currently owned by insiders.

Institutional Trading of Neurocrine Biosciences

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. FCF Advisors LLC purchased a new stake in shares of Neurocrine Biosciences during the fourth quarter worth approximately $1,157,000. Redhawk Wealth Advisors Inc. purchased a new position in Neurocrine Biosciences during the 4th quarter worth $1,245,000. HealthInvest Partners AB acquired a new stake in shares of Neurocrine Biosciences in the 4th quarter worth $1,662,000. Nordea Investment Management AB boosted its holdings in shares of Neurocrine Biosciences by 205.7% in the third quarter. Nordea Investment Management AB now owns 28,591 shares of the company’s stock valued at $3,279,000 after acquiring an additional 19,238 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale increased its stake in shares of Neurocrine Biosciences by 28.3% during the fourth quarter. DekaBank Deutsche Girozentrale now owns 69,596 shares of the company’s stock worth $9,138,000 after acquiring an additional 15,367 shares during the period. 92.59% of the stock is owned by hedge funds and other 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.