Oppenheimer Boosts Neurocrine Biosciences (NASDAQ:NBIX) Price Target to $216.00

Neurocrine Biosciences (NASDAQ:NBIX) had its target price raised by Oppenheimer from $200.00 to $216.00 in a research note released on Thursday morning, Benzinga reports. They currently have an outperform rating on the stock.

Other equities analysts have also issued research reports about the stock. Wedbush reissued an outperform rating and issued a $147.00 price target on shares of Neurocrine Biosciences in a report on Wednesday, April 17th. StockNews.com raised Neurocrine Biosciences from a buy rating to a strong-buy rating in a research note on Thursday, February 8th. HC Wainwright increased their target price on Neurocrine Biosciences from $150.00 to $160.00 and gave the stock a buy rating in a report on Thursday. JPMorgan Chase & Co. lifted their price objective on shares of Neurocrine Biosciences from $148.00 to $158.00 and gave the company an overweight rating in a report on Wednesday, March 20th. Finally, Citigroup decreased their target price on shares of Neurocrine Biosciences from $141.00 to $140.00 and set a neutral rating for the company in a research report on Thursday, February 8th. Six analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of Moderate Buy and an average target price of $147.88.

Neurocrine Biosciences Price Performance

Shares of NASDAQ:NBIX opened at $140.71 on Thursday. The business’s fifty day moving average price is $137.37 and its two-hundred day moving average price is $129.00. Neurocrine Biosciences has a fifty-two week low of $89.04 and a fifty-two week high of $148.37. The stock has a market capitalization of $14.16 billion, a price-to-earnings ratio of 38.76 and a beta of 0.28.

Neurocrine Biosciences (NASDAQ:NBIX) last released its quarterly earnings results on Wednesday, February 7th. The company reported $1.44 EPS for the quarter, beating the consensus estimate of $1.13 by $0.31. The business had revenue of $515.20 million for the quarter, compared to analysts’ expectations of $518.52 million. Neurocrine Biosciences had a net margin of 18.65% and a return on equity of 17.45%. Neurocrine Biosciences’s revenue was up 25.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.88 earnings per share. Research analysts expect that Neurocrine Biosciences will post 4.78 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Eric Benevich sold 19,818 shares of the business’s stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $133.36, for a total value of $2,642,928.48. Following the sale, the insider now owns 40,778 shares of the company’s stock, valued at $5,438,154.08. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Neurocrine Biosciences news, insider Ingrid Delaet sold 5,000 shares of the company’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $145.06, for a total value of $725,300.00. Following the transaction, the insider now directly owns 7,507 shares in the company, valued at approximately $1,088,965.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Eric Benevich sold 19,818 shares of Neurocrine Biosciences stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $133.36, for a total transaction of $2,642,928.48. Following the sale, the insider now owns 40,778 shares of the company’s stock, valued at $5,438,154.08. The disclosure for this sale can be found here. Insiders sold 181,547 shares of company stock valued at $25,039,887 over the last ninety days. 4.30% of the stock is currently owned by insiders.

Institutional Trading of Neurocrine Biosciences

Several institutional investors have recently added to or reduced their stakes in NBIX. Asset Management One Co. Ltd. raised its holdings in Neurocrine Biosciences by 0.5% during the 3rd quarter. Asset Management One Co. Ltd. now owns 38,662 shares of the company’s stock valued at $4,349,000 after buying an additional 207 shares during the last quarter. FinTrust Capital Advisors LLC boosted its holdings in shares of Neurocrine Biosciences by 34.3% during the third quarter. FinTrust Capital Advisors LLC now owns 2,015 shares of the company’s stock worth $227,000 after purchasing an additional 515 shares during the period. Forsta AP Fonden purchased a new stake in shares of Neurocrine Biosciences during the third quarter worth about $2,048,000. New York State Teachers Retirement System grew its stake in shares of Neurocrine Biosciences by 0.8% in the third quarter. New York State Teachers Retirement System now owns 96,989 shares of the company’s stock worth $10,911,000 after purchasing an additional 740 shares during the last quarter. Finally, BluePath Capital Management LLC purchased a new position in Neurocrine Biosciences during the 3rd quarter valued at about $35,000. 92.59% of the stock is currently 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.