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

Neurocrine Biosciences (NASDAQ:NBIX) had its target price upped by Guggenheim from $170.00 to $180.00 in a research note issued to investors on Friday morning, Benzinga reports. They currently have a buy rating on the stock.

Other equities analysts have also issued research reports about the stock. HC Wainwright boosted their target price on shares of Neurocrine Biosciences from $150.00 to $160.00 and gave the stock a buy rating in a research report on Thursday, May 2nd. Robert W. Baird upped their price objective on shares of Neurocrine Biosciences from $157.00 to $180.00 and gave the stock an outperform rating in a research note on Friday. Oppenheimer upped their price target on shares of Neurocrine Biosciences from $216.00 to $219.00 and gave the stock an outperform rating in a research report on Friday. JPMorgan Chase & Co. raised their price objective on shares of Neurocrine Biosciences from $169.00 to $173.00 and gave the company an overweight rating in a research note on Wednesday, July 10th. Finally, StockNews.com lowered shares of Neurocrine Biosciences from a strong-buy rating to a buy rating in a report on Saturday, July 27th. Six equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average target price of $157.16.

Neurocrine Biosciences Price Performance

Shares of NBIX stock traded down $3.87 on Friday, hitting $149.27. The company’s stock had a trading volume of 455,829 shares, compared to its average volume of 823,238. Neurocrine Biosciences has a fifty-two week low of $100.52 and a fifty-two week high of $157.98. The firm’s fifty day moving average price is $139.82 and its 200-day moving average price is $138.46. The stock has a market capitalization of $15.02 billion, a price-to-earnings ratio of 42.19 and a beta of 0.37.

Neurocrine Biosciences (NASDAQ:NBIX) last posted its quarterly earnings data on Thursday, August 1st. The company reported $0.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.15 by ($0.52). The firm had revenue of $590.20 million for the quarter, compared to the consensus estimate of $545.98 million. Neurocrine Biosciences had a return on equity of 14.86% and a net margin of 16.00%. Neurocrine Biosciences’s quarterly revenue was up 30.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.95 earnings per share. Analysts predict that Neurocrine Biosciences will post 4.22 EPS for the current fiscal year.

Insider Activity at Neurocrine Biosciences

In related news, Director Gary A. Lyons sold 12,500 shares of the business’s stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $135.63, for a total transaction of $1,695,375.00. Following the transaction, the director now directly owns 116,947 shares of the company’s stock, valued at approximately $15,861,521.61. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Gary A. Lyons sold 12,500 shares of Neurocrine Biosciences stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $135.63, for a total transaction of $1,695,375.00. Following the completion of the sale, the director now owns 116,947 shares of the company’s stock, valued at approximately $15,861,521.61. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Matt Abernethy sold 15,000 shares of the company’s stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $140.24, for a total transaction of $2,103,600.00. Following the completion of the transaction, the chief financial officer now owns 31,528 shares in the company, valued at approximately $4,421,486.72. The disclosure for this sale can be found here. In the last ninety days, insiders sold 80,436 shares of company stock worth $10,970,780. Insiders own 4.30% of the company’s stock.

Institutional Trading of Neurocrine Biosciences

Hedge funds have recently added to or reduced their stakes in the company. Victory Capital Management Inc. increased its position in Neurocrine Biosciences by 1.2% during the 2nd quarter. Victory Capital Management Inc. now owns 137,543 shares of the company’s stock worth $18,936,000 after buying an additional 1,676 shares during the period. Impact Partnership Wealth LLC bought a new position in Neurocrine Biosciences during the second quarter worth about $284,000. Belpointe Asset Management LLC increased its position in Neurocrine Biosciences by 91.5% during the second quarter. Belpointe Asset Management LLC now owns 8,113 shares of the company’s stock worth $1,117,000 after acquiring an additional 3,877 shares during the period. Fortis Capital Advisors LLC raised its stake in Neurocrine Biosciences by 91.5% in the 2nd quarter. Fortis Capital Advisors LLC now owns 8,113 shares of the company’s stock worth $1,117,000 after purchasing an additional 3,877 shares in the last quarter. Finally, Fiera Capital Corp boosted its holdings in Neurocrine Biosciences by 3.2% in the 2nd quarter. Fiera Capital Corp now owns 527,902 shares of the company’s stock valued at $72,676,000 after purchasing an additional 16,360 shares during the period. 92.59% of the stock is owned by institutional investors and hedge funds.

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.